STEP-3
Pay Adjustments
Using Pay Adjustment, you can update one-time payments or deductions for that month.
There are 5 options:
- Employee Wise Pay Adjustment
- Import Pay Adjustment
- Component Wise Pay Adjustment
- Import Enhanced Pay Adjustments
- Import Loan Adjustment
To update the Pay Adjustment for individual Employees.
Click “Employee-wise Pay Adjustment”.
Enter the “Employee code/Name” and select the employee’s name from the drop-down.
Enter the “Amount” against the “Component”.
Click “Save”.
To update the Component-wise Pay Adjustment.
Click on “Component-wise Pay Adjustment”.
Select the components from the “drop-down”.
Enter the “Amount” against the “Employee name”.
Click “Save”.
To update the Pay Adjustment for multiple employees.
Click “Import Pay Adjustment”.
Click “Download template here” to download the import template.
Update the details under the “Import Pay Adjustment” sheet against each employee under the relevant pay/deduction component and “Save” the file.
Click “Choose file” and select the file.
Click “Import”.
Import Enhanced Pay Adjustment.
This option allows you to override the system-calculated onetime earnings/deductions or import payments or deductions month-wise pertaining to the previous month so that Income Tax Exemption or Payroll compliances are adjusted accordingly.
These payments pertain to the previous month. Even though the payment is paid this month, the exemption and tax calculations will be considered in the previous month's calculation.
Select “Import Enhanced pay adjustment” from the dropdown.
Click “Download template here”.
Update the details under the “Import Enhanced pay Adjustment” sheet in the generated Excel workbook and “Save” the file.
Click “Choose file” and select the file.
Click “Import”.
Import Loan Adjustment
If you are using the Loan Module, the loan instalment will automatically be deducted from the payroll.
But if you would like to override the instalment amount for the current month, then you will use this option.
Select the “Import Loan Adjustment” option from the dropdown.
Click “Download template here”.
Update the details under the “Import Loan Adjustment” sheet in the generated Excel workbook and “Save” the file.
Fixed duration - In this type of adjustment, the monthly instalment will be changed according to adjustments made in this month. The deduction for the following months will change based on the deduction in this month.
The EMI for the last month of the loan gets increased or decreased based on the adjustment made.
Fixed EMI - In this type of adjustment, the EMIs remain unchanged post-adjustment.
Based on the adjusted amount, an extra EMI gets added to handle the adjusted amount.
Click “Choose file” and select the file.
Click “Import”.
Click “Next” to go to the next step which is "Run Payroll". For further details, click here.
