Super Annuation Perquisite

Super Annuation Perquisite calculation in Webpay

1. Create a paycode by the name Super Annuation with following properties
Part of Gross: No
Part of Tax: No
Present Dependent: No
Calculate at Runtime: Yes
Mapping: Super Annuation
Formula: Yes (as mentioned below)

2. Create a formula for Super Annuation (Basic * 15%)

3. The limit of Super Annuation should be in Company Configuration Table. At present the limit is Rs.1,00,000.

Eg. Basic per month = 100000
Super Annuation = 15% of Basic = 15000
Annual Super Annuation = Rs.1,80,000
Perquisite Value = 180000 - 100000 = 80000

Blog by BBSPL
Webpay