Creating Flat Rate based Earnings Pay Head in Tally.ERP 9
To create a Flat Rate based Pay Head (e.g. Conveyance which is does not depend on Attendance),
Go toGateway of Tally > Payroll Info. > Pay Heads > Create
Enter Pay Head name in theNamefield.
SelectEarnings for Employeesas thePay Head Typefrom the list ofPay Head Type.
SelectIncomeTypefor the Pay Head.
There are two Income Types: Fixed and Variable
Pay Heads categorised under theIncome Type-Fixed, form a part of the employee’sTotal Gross Salary. For example:Basic Pay
Pay Heads categorised under theIncome Type-Variable, form a part of the employee’sTotal Earningsonly. For example:Overtime Wages
SelectIndirect Expensesfrom theList of Groupsin theUnderfield.
By default,Affect Net Salaryis set toYes. TypeNo, if you do not want this component to be included in the Pay Slip.
By default, the Pay Head component name entered in theNamefield will appear in the Pay Slip, if you want to change the default pay head component name then type required name inName to appear in Payslipfield.
By default,Use for Gratuityis set toNo. Set this toYes, if you want this Pay Head to be considered for Gratuity calculation.
In theIncome Tax Detailsscreen,
Select the required Tax component in theIncome Tax Componentfield (Transport Allowance)
InTax Calculation BasisselectOn Projectionif the Tax has computation has to be spread across the remaining period or else selectOn Actual Value
Deduct TDS across Period(s)will be set toYesforTax Calculation BasisasOn Projected Value.It can be set toYesorNoforOn Actual Value.
Select the required method of calculation from theList of Calculationin theCalculation Typefield.
Select the required calculation period from theList of Calculation Periods.
In theCalculation Periodfield select the required calculation period from theList of Calculation Periods.
Select the required Rounding off method from theRounding Methodslist and enter the required rounding limit in theLimitfield.
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