Hi Ravi,
I hope your requirement is to define the formula for 'Provident Fund'.
Lenvica HRMS has a system defined salary head called 'Provident Fund'. You need to add this salary head to the salary group, in which you want to deduct PF. Select the 'Formula' type and click on formula button, formula editor will be displayed. There you can set your formula.
The formula for PF will look like this:
12*({Basic Pay} + {Conveyance Allowance} + {Dearness Allowance} + {House Rent Allowance} + {Medical Allowance})/100
Finally when you process salary, PF will be deducted for all the employees those who belong to that particular salary group, as per the above defined formula.
I'll attach a screenshot for your reference. In case of further help, don't hesitate to contact us…
Regards
Natraj
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