Compensation

In this tab, compensation for all employees is listed here. An HR can create, modify or delete the compensation report for employees.

How to create a new compensation Structure?

To create a new Compensation Structure Dynamically depends on company, click App Launcher -> Search Benefits Master -> New (refer to Fig 6.1)

Fig 6.1

In the new Benefits master form, fill out the Benefit Name, benefit type, claculate from, category, is active and click save button to save benefit master record. (fig 6.2)

Fig 6.2

In the Benefits master , select the record which need to edit and select the down arrow of that record and select edit option, do changes as required and click save button to save the record. [Edit, Delete option depends on user access privilage] (fig 6.3)

Fig 6.3

In the Benefits master, select the record name to open the record detail, select the related tab to view the related data of the select record.

To create a new compensation, click HRM -> Compensation -> New (refer to Fig 6.4)

Fig 6.4

New CTC calculator form will be available in screen to calculate the annual CTC of an employee and create compensation and assign the same to employee record automatically.
In the new CTC Calculator form, fill out the employee id, effective date, CTC value, etc.
Then click the activated check box to activate the compensation to the selected employee.
Enter the benefit values Medical insurance, provident fund employer contribution which is inclusive of total CTC. (refer fig 6.5)

Fig 6.5

The compensation values will be auto calculated if the field is maped in percentage.
Enter the values in the other fields to match the Gross amount and total allowances value.
The compensation will not be save, if there is any difference.(refer to Fig6.6)

Fig 6.6

Enter the values in deduction section fields like Providend fund, professional tax, TDS etc.
The deduction values will be auto calculated and the takehome value for both yearly and monthly will be displayed accoudingly (ref Fig6.7)

Fig 6.7

Fig 6.8

Click the create compensation button to save the record and create a compensation record and assign the same to the selected employee.

To generate a payslip Manually click HRM -> Payslip
Click new button to open payslip page
Enter Employee details like, Employee Code, Name, Payslip for, Department in information section.
Enter leave details in leaves section. (refer fig 6.9)