Can someone please help me.
In version 12 that I am using, under the salary structure, there is no field for BASE SALARY (ie…where I can put annual gross salary before applying the formula on it to get the Monthly Basic)
Unlike in the previous version, for example, version 10, it has a base from which you can calculate your earnings.
You have to create Salary Component first and name it Base. Then in Salary Structure put it in Earnings child table.
Thank you Rahy.
For example, if i have an employee that earns 300,000 as annual salary.
If i want to get his monthly basic, it should be 300,000 divide by 12. Which will give me about 25,000.
If i create an earning component called basic, i will come to structure and add 25,000 as the employees basic earning.
But what am saying is that in the previous version, there was a field for BASE (for example annual salary of 300,000) from which i can now get monthly basic by saying:
Monthly Basic = BASE / 12 which translate to 300,000 divide by 12 = 25,000
Monthly Housing Allowance = BASE /12 * 0.02 which translate to( 300,000/12)2%
and so on.
There has always been an ANNUAL BASE from which we calculate the monthly earnings and deductions.
But in this version 12, it seems i need to do above calculation manually and input the 25,000 on my earnings component i created as BASIC.
