To create the desired components LWF and LWF Employer Go to Settings >> Salary Components and click on New; the Configurations should be as under:
Component | LWF | LWF Employer |
Name | Labour Welfare Fund | Labour Welfare Fund Employer |
Abbreviation | LWFEE | LWFER |
Paid Component | Yes | No |
Pay Type | Deduction | Statutory |
Tax Status | Non-Taxable | NA |
Calculation Type | Flat | Flat |
Map To | None | None |
Round off Value | Nearest to INR 1/- | Nearest to INR 1/- |
Component Type | Variable | Variable |
Is FBP component | No | No |
Attendance Dependent | No | No |
Part of CTC | No | No |
Active | Yes | Yes |
FFS component | No | No |
Once created, allocate the components to the employees. (To allocate components refer this Link)
Note: To calculate LWF automatically as per the Locations, Go to Settings >> Configure Rules >> Advance Settings >> Enable LWF and click on Save.
To Populate the LWF Employer contribution, ensure to select “Show Employer Contribution” checkbox.