Revision: 8b80aa5277

Edited ByondHR Payroll Management

Restore Revision

[email protected] edited on Jul 5, 2023, 3:50:02 PM

@@ -22,11 +22,13 @@

### Earning

-<table class="table table-bordered"><tbody><tr><td data-row="row-eqro">Settings</td><td data-row="row-eqro">Description</td></tr><tr><td data-row="insert-row-below">Depends on Payment Days</td><td data-row="insert-row-below">If this component is calculated based on the employee eligible working days. If enabled, ByondHR will automatically calculate the pay in proportion of working days deducted by unpaid leave (if any).</td></tr><tr><td data-row="row-i2b8">Do not include in total</td><td data-row="row-i2b8">If this option is enabled, the component wont be added to the total of the Earnings or Deductions of the Salary Slip</td></tr><tr><td data-row="row-qk1q">Is Tax Applicable</td><td data-row="row-qk1q">If a component needs to be considered for Tax calculations specified as per the Payroll Period you may want to enable this option. It would be required that you have a Payroll Period and Income Tax Slab configured with valid Tax Slabs for payroll processing.</td></tr><tr><td data-row="row-sd67">Is EPF Applicable</td><td data-row="row-sd67">Selecting this checkbox if this component should include in the calculation of EPF</td></tr><tr><td data-row="row-qjyt">Is SOCSO Applicable</td><td data-row="row-qjyt">Selecting this checkbox if this component should include in the calculation of SOCSO</td></tr><tr><td data-row="row-yl6e">Is EIS Applicable</td><td data-row="row-yl6e">Selecting this checkbox if this component should include in the calculation of EIS</td></tr><tr><td data-row="insert-table">Is HRDF Applicable</td><td data-row="insert-table">Selecting this checkbox if this component should include in the calculation of HRDF</td></tr><tr><td data-row="insert-row-below">Deduct Full Tax on Selected Payroll Date</td><td data-row="insert-row-below">If checked and the component is used in Additional Salary, the tax amount applicable on the additional amount will be deducted on the specific payroll month. If not checked, the tax will be distributed over the remaining months of the payroll period. For example, if a bonus is given in a particular month using Additional Salary, then you can deduct full tax amount in the same month only.</td></tr><tr><td data-row="row-274z">Round to the Nearest Integer</td><td data-row="row-274z">Selecting this checkbox allows you to round the amount of this Salary Component to the nearest integer.</td></tr><tr><td data-row="row-jczo">Statistical Component</td><td data-row="row-jczo">Required basic coding capability to use this component. If selected, the value specified or calculated in this component will not contribute to the earnings or deductions. However, it's value can be referenced by other components that can be added or deducted. Also, you would not be able to set this component as a Flexible Benefit.</td></tr><tr><td data-row="row-y6yh">Remove if Zero Valued</td><td data-row="row-y6yh">Selecting this checkbox to remove the component in Salary Slip if the amount is zero.</td></tr><tr><td data-row="row-wj1u">Disabled</td><td data-row="row-wj1u">This checkbox can be selected to disable this Salary Component. A disabled Salary Component cannot be used in the Salary Structure.</td></tr><tr><td data-row="insert-row-below">Is Flexible Benefit</td><td data-row="insert-row-below">Flexible Benefits are earning components which Employees can choose to receive on a pro-rata basis or annually when they claim for. If turned on, you can specify the maximum benefit allowed for an employee in a year. You will need to  create <a href="https://help.byondhr.com/employee-benefit-application" rel="noopener noreferrer" style="background-color: rgb(255, 255, 255); font-size: 14px; color: rgb(68, 68, 68);">Employee Benefit Application</a> with the ones they opt for.</td></tr><tr><td data-row="row-bnel">Pay Against Benefit Claim</td><td data-row="row-bnel">Select this checkbox if Employees can opt to receive flexible benefits when they claim via Employee Benefit Claim. The amount allocated for the component will be paid as the Employee submits an <a href="https://help.byondhr.com/employee-benefit-claim" rel="noopener noreferrer" style="background-color: rgb(255, 255, 255); font-size: 14px; color: rgb(68, 68, 68);">Employee Benefit Claim</a>. Unselect this checkbox if the amount will be dispersed as part of the Employee's salary on a pro-rata basis.</td></tr><tr><td data-row="insert-row-below">Max Benefit Amount (Yearly)</td><td data-row="insert-row-below">You can specify the maximum benefit allowed for an employee in a year.</td></tr><tr><td data-row="row-8cje">Only Tax Impact (Cannot Claim But Part of Taxable Income)</td><td data-row="row-8cje">Such components are those which the company has already paid to the Employee in cash or by some other means, for example a car purchased for the Employee's use. The Employee cannot claim but is liable to pay tax. The amount allocated for this component will be considered while calculating the taxable income of the Employee.</td></tr></tbody></table>

+<table class="table table-bordered"><tbody><tr><td data-row="row-eqro">Settings</td><td data-row="row-eqro">Description</td></tr><tr><td data-row="insert-row-below">Depends on Payment Days</td><td data-row="insert-row-below">If this component is calculated based on the employee eligible working days. If enabled, ByondHR will automatically calculate the pay in proportion of working days deducted by unpaid leave (if any).</td></tr><tr><td data-row="row-i2b8">Do not include in total</td><td data-row="row-i2b8">If this option is enabled, the component wont be added to the total of the Earnings or Deductions of the Salary Slip</td></tr><tr><td data-row="row-qk1q">Is Tax Applicable</td><td data-row="row-qk1q">If a component needs to be considered for Tax calculations specified as per the Payroll Period you may want to enable this option. It would be required that you have a Payroll Period and Income Tax Slab configured with valid Tax Slabs for payroll processing.</td></tr><tr><td data-row="row-sd67">Is EPF Applicable</td><td data-row="row-sd67">Selecting this checkbox if this component should include in the calculation of EPF</td></tr><tr><td data-row="row-qjyt">Is SOCSO Applicable</td><td data-row="row-qjyt">Selecting this checkbox if this component should include in the calculation of SOCSO</td></tr><tr><td data-row="row-yl6e">Is EIS Applicable</td><td data-row="row-yl6e">Selecting this checkbox if this component should include in the calculation of EIS</td></tr><tr><td data-row="insert-table">Is HRDF Applicable</td><td data-row="insert-table">Selecting this checkbox if this component should include in the calculation of HRDF</td></tr><tr><td data-row="insert-row-below">Deduct Full Tax on Selected Payroll Date</td><td data-row="insert-row-below">If checked and the component is used in Additional Salary, the tax amount applicable on the additional amount will be deducted on the specific payroll month. If not checked, the tax will be distributed over the remaining months of the payroll period. For example, if a bonus is given in a particular month using Additional Salary, then you can deduct full tax amount in the same month only.</td></tr><tr><td data-row="row-274z">Round to the Nearest Integer</td><td data-row="row-274z">Selecting this checkbox allows you to round the amount of this Salary Component to the nearest integer.</td></tr><tr><td data-row="row-jczo">Statistical Component</td><td data-row="row-jczo">Required basic coding capability to use this component. If selected, the value specified or calculated in this component will not contribute to the earnings or deductions. However, it's value can be referenced by other components that can be added or deducted. Also, you would not be able to set this component as a Flexible Benefit.</td></tr><tr><td data-row="row-y6yh">Remove if Zero Valued</td><td data-row="row-y6yh">Selecting this checkbox to remove the component in Salary Slip if the amount is zero.</td></tr><tr><td data-row="row-wj1u">Disabled</td><td data-row="row-wj1u">This checkbox can be selected to disable this Salary Component. A disabled Salary Component cannot be used in the Salary Structure.</td></tr><tr><td data-row="insert-row-below">Is Flexible Benefit</td><td data-row="insert-row-below">Flexible Benefits are earning components which Employees can choose to receive on a pro-rata basis or annually when they claim for. If turned on, you can specify the maximum benefit allowed for an employee in a year. You will need to create <a href="https://help.byondhr.com/employee-benefit-application" rel="noopener noreferrer" style="color: rgb(68, 68, 68); font-size: 14px; background-color: rgb(255, 255, 255);">Employee Benefit Application</a> with the ones they opt for.</td></tr><tr><td data-row="row-bnel">Pay Against Benefit Claim</td><td data-row="row-bnel">Select this checkbox if Employees can opt to receive flexible benefits when they claim via Employee Benefit Claim. The amount allocated for the component will be paid as the Employee submits an <a href="https://help.byondhr.com/employee-benefit-claim" rel="noopener noreferrer" style="color: rgb(68, 68, 68); font-size: 14px; background-color: rgb(255, 255, 255);">Employee Benefit Claim</a>. Unselect this checkbox if the amount will be dispersed as part of the Employee's salary on a pro-rata basis.</td></tr><tr><td data-row="insert-row-below">Max Benefit Amount (Yearly)</td><td data-row="insert-row-below">You can specify the maximum benefit allowed for an employee in a year.</td></tr><tr><td data-row="row-8cje">Only Tax Impact (Cannot Claim But Part of Taxable Income)</td><td data-row="row-8cje">Such components are those which the company has already paid to the Employee in cash or by some other means, for example a car purchased for the Employee's use. The Employee cannot claim but is liable to pay tax. The amount allocated for this component will be considered while calculating the taxable income of the Employee.</td></tr></tbody></table>

### Deduction

-<table class="table table-bordered"><tbody><tr><td data-row="row-1ua3"> </td><td data-row="row-1ua3"> </td></tr><tr><td data-row="row-3ri4"> </td><td data-row="row-3ri4"> </td></tr><tr><td data-row="insert-table"> </td><td data-row="insert-table"> </td></tr></tbody></table>

+Similar settings will not be mentioned in this table.

+<table class="table table-bordered"><tbody><tr><td data-row="row-0zbw">Settings</td><td data-row="row-0zbw">Description</td></tr><tr><td data-row="row-bqnp">Variable Based On Taxable Salary</td><td data-row="row-bqnp">If you enable this, the component will be considered as the standard Tax deduction component. Tax will be calculated based on the Income Tax Slab linked to the employee.</td></tr><tr><td data-row="insert-table">Exempted from Income Tax</td><td data-row="insert-table">If checked, the full amount will be deducted from taxable income before calculating income tax without any declaration or proof submission.</td></tr></tbody></table>

3\. Salary Structure

--------------------

@@ -41,7 +43,7 @@

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 deductions, including:

-<table class="table table-bordered"><tbody><tr><td data-row="row-3586">Contributions</td><td data-row="row-3586">Descriptions</td></tr><tr><td data-row="row-7s9u">Social Security Organization (SOCSO)</td><td data-row="row-7s9u">Contributions towards social security benefits, including medical and disability coverage for employees.</td></tr><tr><td data-row="row-z1q0">Employees Provident Fund (EPF)</td><td data-row="row-z1q0">Mandatory savings scheme where a portion of the employee's salary is contributed towards retirement savings.</td></tr><tr><td data-row="insert-row-below">Employee Insurance Scheme (EIS)</td><td data-row="insert-row-below">Contributions made to provide employees with financial assistance in the event of job loss or retrenchment.</td></tr><tr><td data-row="row-3586">Human Resources Development Fund (HRDF)</td><td data-row="row-3586">Contributions towards employee training and development initiatives aimed at enhancing skills and competitiveness.</td></tr><tr><td data-row="insert-table"> </td><td data-row="insert-table"> </td></tr></tbody></table>

+<table class="table table-bordered"><tbody><tr><td data-row="row-3586">Contributions</td><td data-row="row-3586">Descriptions</td></tr><tr><td data-row="row-7s9u">Social Security Organization (SOCSO)</td><td data-row="row-7s9u">Contributions towards social security benefits, including medical and disability coverage for employees.</td></tr><tr><td data-row="row-z1q0">Employees Provident Fund (EPF)</td><td data-row="row-z1q0">Mandatory savings scheme where a portion of the employee's salary is contributed towards retirement savings.</td></tr><tr><td data-row="insert-row-below">Employee Insurance Scheme (EIS)</td><td data-row="insert-row-below">Contributions made to provide employees with financial assistance in the event of job loss or retrenchment.</td></tr><tr><td data-row="row-3586">Human Resources Development Fund (HRDF)</td><td data-row="row-3586">Contributions towards employee training and development initiatives aimed at enhancing skills and competitiveness.</td></tr><tr><td data-row="insert-table"> </td><td data-row="insert-table"> </td></tr></tbody></table>

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.