Please follow the below path to create the VPF component.
To create this component, please go to Settings >> Salary components >> click “New”
The configuration of the components is as under:
| Component |
Voluntary PF |
| Name |
Voluntary PF |
| Abbreviation |
VPF |
| Paid Component |
Yes |
| Pay Type |
Statutory component |
| Tax Status |
Non Taxable |
| Calculation Type |
Flat / Formula |
| Map To |
VPF |
| Round off Value |
Nearest to INR 1/- |
| Component Type |
Fixed |
| Is FBP component |
No |
| Attendance Dependent |
No |
| Part of CTC |
No |
| Active |
Yes |
| FFS component |
No |
| Payable if full month LOP |
No |