Creating a payset
|
|
|
|
|
|
See page overview
Select "Create Payset" from the left pane.
The "Create Payset" page appears.
The system displays the following field.
|
Date Format |
The date format applicable to the login user. Tell me more |
Enter or select the values for the following fields
|
Payset Definition Unit |
Select the organization unit in which you must create paysets. The drop-down list box displays all the organization units where you have permission to create paysets. |
|
Payroll Description |
From the drop-down list box select the payroll for which the payset must be attached. The drop-down list box will display all the payrolls that are mapped with the selected payroll definition unit. |
|
Payset Code |
A unique code to identify the payset |
|
Payset Short Description |
A unique brief description of the payset. |
|
Payset Long description |
A full description of the payset. |
|
Currency |
From the drop-down list box select the currency in which the salary is paid. The drop-down will display the list of all currrencies mapped to the payroll defintiion unit. |
|
Round Type |
From the drop-down list box, select the round type. It can be one of the following: “Floor”, “Ceiling”, “Actual” or “Nearest”. For example, if the net salary of an employee = $4544.43 and the Round Factor = 10, the value will be as follows: When the type is “Floor”, the salary is rounded off to the next consecutively lower value that you defined as the round factor. The net salary will be $4540 When the type is “Ceiling”, the salary is rounded off to the next consecutively higher value that you defined as the round factor. The net salary will be $4550 When the type is “Actual”, the salary remains the same without being rounded off. The net salary will be $4544.43 When the type is “Nearest”, the salary is rounded off to the nearest whole number. The net salary will be $4540. |
|
Round Factor |
Enter the number that determines the extent of rounding off. |
|
THP Option |
From the drop-down list box, select the mode by which the Minimum Take Home Pay must be calculated. You can choose one of the following: “Amount”, “Percentage” or “Rule”. |
|
Amount” will require you to enter the exact take home amount, in the “Amount” field alongside“ | |
|
Percentage” will require you to define the percentage of salary, which forms the minimum take home pay. Enter it in the “Percentage” field alongside“ | |
|
“Rule” will require you to define a suitable rule or formula through the stored procedure builder. This rule will drive the minimum take home pay. Enter the name of the rule in the “Rule” field alongside. “ | |
|
Amount |
If you had selected the “Amount” option from the “THP Option” drop-down list box, enter the value of the minimum take home pay |
|
Percentage |
If you had selected the “Percentage” option from the “THP Option” drop-down list box, enter the percentage based on which minimum take home pay must be calculated. The system interprets it to be a percentage of the gross salary |
|
Rule |
If you had selected the “Rule” option from the “THP Option” drop-down list box, enter the name of the rule based on which minimum take home pay must be calculated. The Actual rule can be defined in the Stored procedure builder component. |
|
Applicable To |
Choose the organizational units to which the created payset details will be made available. The options in the drop-down list box are described below |
|
“All organizational units” refers to all the applicable organization units for this setup Organization Unit. It can also include the setup OU. | |
|
“Login organization unit” refers to the organizational unit you selected when you logged In | |
|
“Selective organization unit” refers to distinct organization units only. Note that these organization units can consist of one or more applicable Organization units as well as the setup unit you chose in the “Payroll Definitiion Unit” field. |
Note: If you specify that the created payset details must
be made available to distinct organizational units only, enter the “Organization
Unit Mapping” page, to choose the organization units.
Remember to save the details in the current page before opening the “Org.
Unit Mapping” page.
|
Comments |
Enter the opinions, comment, etc. |
After you complete details, select the “Save” pushbutton to create a payset.
6 Hyperlinked topics below
Use this page to create a new payset and make it available to different organizational units of the Group Company.
Creating a payset - An overview
A payset is a logical grouping of those employees whose pay elements or pay element values are similar. Through this page, you can create a payset with a unique code and description. You map the payset to a payroll, specify the currency of the payset and define the following attributes of the payset:
The Minimum Take-Home Pay. This is the predetermined limit, below which the employee’s salary must not fall. For instance, in some organizations, the minimum take-home pay of an employee must not fall below 50% of his gross salary. In such instances, any recoveries which could not be recovered in a particular process period is necessarily carried over to the next process period. TheTMHP (minimum take home pay) must be specified as an amount, a percentage of salary or a rule that is to be specified through a stored procedure builder
Round type and Factor: The type of rounding applicable to the payset and the rounding factor. You can specify the round type to be one of the following: “Floor”, “Ceiling”, “Actual” and “Nearest”. The rounding factor is to be a number that determines the extent of rounding, for example 10 with “Nearest” will indicate that the “Net Pay”of the Payset must be rounded off to the nearest $10.
You are to also map the payset to organization units, which means that the payset will be made available to these organizational units. You can map the payset to only those organization units that are currently mapped to the payroll to which payset is attached.
Note: that the actual mapping of the payset record to the organizational units is carried out in a separate page called “Org. Unit(s) mapping”.