Revision: 6386d5a6dc
Edited ByondHR Payroll Management
Restore Revision
@@ -12,21 +12,38 @@
## 2. Salary Component
This document allows you to define each Earning and Deduction component which can be used to create a Salary Structure and subsequently create Salary Slip or Additional Salary. You can also configure the type, condition and formula as well as other settings which are discussed below. You should be able to enable various combinations of the following options to configure each component as it fits your Company / Regional policies.
-### Salary Component in Malaysia
+### Salary Component Setup
+
+## Salary Structure
+Salary Structure represents how Salaries are structured and calculated based on Earnings and Deductions. Salary structures are used to help organizations define salary components entitled by different employee group.
+
+### Salary Structure in Malaysia
The payroll system in Malaysia closely resembles that of many other countries. It consists of various components that make up an employee's salary, including:
- • Basic Pay: The fundamental salary amount earned by an employee.
- • Allowances: Additional payments provided to employees for specific purposes, such as housing, transportation, or meal allowances.
- • Perquisites: Non-cash benefits provided to employees, such as medical benefits or company-provided accommodations.
- • Overtime: Additional compensation for hours worked beyond regular working hours.
- • Incentives: Performance-based bonuses or rewards given to employees for achieving targets or meeting specific goals.
+ • **Basic Pay:** The fundamental salary amount earned by an employee.
+ • **Allowances:** Additional payments provided to employees for specific purposes, such as housing, transportation, or meal allowances.
+ • **Perquisites:** Non-cash benefits provided to employees, such as medical benefits or company-provided accommodations.
+ • **Overtime:** Additional compensation for hours worked beyond regular working hours.
+ • **Incentives:** Performance-based bonuses or rewards given to employees for achieving targets or meeting specific goals.
Additionally, both the employer and the employee contribute to the payroll. This contribution is deducted from the employee's gross salary, and it includes various statutory deductionsm, including:
- • Social Security Organisation (SOCSO): Contributions towards social security benefits, including medical and disability coverage for employees.
- • Employees Provident Fund (EPF): Mandatory savings scheme where a portion of the employee's salary is contributed towards retirement savings.
- • Employee Insurance Scheme (EIS): Contributions made to provide employees with financial assistance in the event of job loss or retrenchment.
- • Human Resources Development Fund (HRDF): Contributions towards employee training and development initiatives aimed at enhancing skills and competitiveness.
+ • **Social Security Organisation (SOCSO):** Contributions towards social security benefits, including medical and disability coverage for employees.
+ • **Employees Provident Fund (EPF):** Mandatory savings scheme where a portion of the employee's salary is contributed towards retirement savings.
+ • **Employee Insurance Scheme (EIS):** Contributions made to provide employees with financial assistance in the event of job loss or retrenchment.
+ • **Human Resources Development Fund (HRDF):** Contributions towards employee training and development initiatives aimed at enhancing skills and competitiveness.
All of the mentioned Salary Component has preset into your ByondHR system, You can add the components into your salary structure as per your company payroll setup.
+## Salary Structure Assignment
+Salary Structure Assignment allows you to assign salary structure and specify the base pay eligible for each employee. It is important that you set the **base salary** here as this will be the base salary used for calculations as per the Salary Structure.
+
+## Processing Payroll
+You can either bulk process payroll for Employees under a department, branch or designation or process payroll individually by creating Salary Slips for each employee.
+
+### Payroll Processing Using Payroll Entry
+You can also create salary slip for multiple employees using Payroll Entry.
+
+### Creating Salary Slips Manually
+Once the Salary Structure is created and assigned to employees via Salary Structure Assignment, you can make a Salary Slip individually.
+