RE: PF DEDUCTIONS FORMULA EDITOR

[tvish]

#19073

HELLO,

i m facing another problem with hrm lite which is : not able to find the destination for  provident fund deductions link under  the employees-provident fund  head  in hrm lite.  Due to which the final salary does not show the provident fund deductions.  kindly let me know the way for making Provident fund deduction and the link or the destination in hrm lite, by which i can make pf deductions in the gross salary in order to reach the net salary.

thanks for your valuable support.

ravi

[natraj]

#19852

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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