Good day,
I am trying Lenvica HRMS 3.8.60 version and I want to configure income tax as per local laws as follows:
This is based on total gross pay (basic pay + any other allowances)
Gross pay 0 to 36,000 Tax=0
Gross pay 36,001 to 72,000 Tax=0 plus 5% of excess over 36,000
Gross pay 72,001 to 108,000 Tax = 1800 plus 12.5% of excess over 7200
Gross pay 108,001 to 144,000 Tax=6300 plus 18.75% of excess over 108,000
Gross pay Above 144000 Tax=13,050 plus 25% of excess over 144,000
I have defined non-payslip salary head named grosspay to calculate everything. then tried to do tax slab. Gross pay isn't calculating and that is where I'm stuck. Also How to do the tax slab?
Secondly, I need to accrue Gratuity (e.g. 15% of basic pay). This is not paid monthly, but accrued and paid on contract termination. Tax on gratuity is:
1/3 is tax free
2/3 is taxed using above table
Lastly, how do I accrue leave monthly (e.g. 2 days per month from employment date) with a cap of 40 days.
Thanks
