Selecting paycode properties is one of the most important steps to configure Webpay. If the selection of properties is incorrect then the salary process would be incorrect. Please read the following very carefully.
1. Code: By default a code is generated (i.e.A00001 to additional pay heads or D00001 to deduction pay heads etc.)
2. Description: Paycodes description (i.e.Basic or Hra or conv etc.)
3. Display Caption: Display caption on salary slip or salary register or tds estimation slip and all related to salary paid details(i.e. you write "conv" of description of pay heads but you want display caption on salary slip or register “conveyance” then you write "conveyance" into display caption textbox)
4. Pay Code Mapping: When you map the paycode system understands its property for tax calculation like for eg. mapping a paycode with HRA tells the system that the business rule of HRA is applicable on this paycode.
5. Pay Code Type: Pay code type (i.e. “Addition” pay heads or “Deduction” pay heads or “Other” type or “Bonus” pay code select then simple assign that type pay heads to employee but if you made “Loan” or “Advance” type pay heads then you must be use “loan” and “advance” module and if you select “Reimbursement” pay code type then must be use Reimbursement module.)
6. Calculation Method: This gets active when you create a loan or advance type paycode. This is for interest calculation.
7. Assignment: Assignment in which two type first is “Manual assign pay code” and second is “Automatic assign pay code” (i.e. “Manual assign pay code” means assign pay heads manually to employee and “Automatic assign pay code ” means Automatically will be assign to employee.)
8. Ledger Group: This is used for internal processing. Just create one ledger type and always select as this is a mandatory field.
9. Taxable: This property tells whether pay code is taxable or non taxable or partial taxable
10. Non Taxable Limit (PA): Non taxable limit(PA) this is use for part of taxable pay heads in which give partial taxable limit amount(for example – “Reimbursement” type pay heads like “Medical Reimbursement” that type pay heads create partial taxable in which Non taxable limit=”15000” according to Gvt. Rule.)
11. Tax to be deducted: Pay month means deduct the tax on the whole amount in the month of payment and remember this option is used when the paycode is of variable nature and NOT fixed. Proportionately means that the tax will be proportioned as per the remaining months.
12. Pay Code Sequence to calculate paycode at runtime: Pay code sequence to calculate pay code at runtime that means for example first create pay heads with name “Basic” then “HRA” the first sequence will be “1” and if you want calculate “Hra” on basic then pay sequence will be “2”.)
13. Pay Slip / Register Sort Order: Pay slip / Register Sort Order means display pay heads on salary slip or salary register according to sort order.
14. Calculate Salary According To: Calculate Salary According To “Day Rate” or “Month Rate” that means if select “Day Rate” then salary will be calculate according to daily wages and if select “Month Rate” alary will be calculate according to daily wages and if select “Month Rate” then salary will be consider for month wise.
15. Formula / Amount: Formula / Amount that means if create formula then must select “formula” else put “0” amount into textbox.
16. Paycode Section: You select Section 10 or Section 16 which is used to publish on form 16
17. Rounding: For rounding the paycode amount
18. Present Dependent: Present Dependent that means if check box is check then calculate amount according to present day on that pay heads and if not check then calculate according to total amount assigned.
19. Part of PF Gross: Part of Pf gross that means if check box is check then amount consider for part of Pf gross and if not checked then not consider part of Pf gross on that pay heads.
20. Part of Gross: Part of Gross means if check box is checked then amount will be add into total salary if not checked then amount not will be add into total salary on that pay heads.
20A. Part of Rate Gross: Part of Rate Gross means the paycodes which are checked will added as Rate Gross to show the employee Entitled Salary. For eg. Overtime is not part of rate gross but it is part of gross. Therefore when a paycode like overtime is create it should not be part of rate gross.
21. Show on Pay Slip: Show on pay slip that means if check box is checked then pay code will be display on salary slip if not checked then not display on salary slip.
22. Show on Salary Sheet: Show on salary sheet that means if check box is checked then pay code will be display on salary sheet if not checked then not display on salary sheet.
23. Part of Tax: Part of tax that means if check box is checked then pay code amount consider for tax if not checked then not consider for income tax.
24. Variable Paycode: Variable Pay code that means if check box then pay code consider for “variable” else “Fixed” (i.e. “variable” that means pay code amount consider for assign month only not for next month or future month and “Fixed” that means pay code amount will be consider from assign month up to last month of the financial year.
25. Calculate at Runtime: Calculate at runtime that means if check box is checked then pay code amount calculate on salary process time. It is basically use to formula type pay code only.
26. Active: Active that means if check box is checked then pays code work and not checked then not works.
27. Used For Reimb. Claim: You select this option if you pay reimbursement claim amount in the salary through this paycode.
28. Part of CTC: Part of CTC that means if check box is checked then pay code amount consider(ADD) for “CTC” if not checked then pay code amount not consider(ADD) for “CTC”.
29. Part of ESI Rate Gross: Part of ESI Rate Gross that means if check box is checked then pay code amount consider for “Part of ESI Rate Gross” only not for deduction. It is only check your company ESI limit setting like 10000
30. Part of ESI Gross: Part of ESI Gross that means if check box is checked then pay code amount consider(ADD) for ESI Gross and if not checked then pay code amount not consider(ADD) for ESI Gross.
31. Part of Professional Tax: Part of professional tax that means if check box is checked then deducts professional tax amount on that pay code amount if not check then not deduct professional tax amount on that pay code.
32. Prorate According To DOJ and DOL: Prorate According to DOJ and DOL: You can use this option only for Reimbursement Type Paycodes which are NOT Present Dependent. As per this option entitled amount will be prorated according to DOJ and DOL.
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