Editing a rent free accommodation setup
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Select the “Perquisite Setup” hyperlink from the left pane.
The “Perquisite Setup” page appears.
Ensure that you have selected the “Accommodation type” option from the “Perquisite Type” drop-down list box.
Select the “Edit Accommodation Types” hyperlink from the bottom of the page.
The “Edit Rent Free Accommodation Setup” page appears. The system displays the following details.
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Company Tax Setup Unit |
The company tax setup unit selected in the previous page. |
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Date format |
The date format applicable to the login user. Tell me more |
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Tax Year |
The tax year for which the accommodation types are applicable. The tax year selected in the previous page appears. |
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Company |
The name of the company. |
It also displays all the accommodation types defined in the "Create Accommodation Types" activity.
You can modify these details.
To default from a tax year
Use this option to indicate that all the accommodation types defined for an earlier tax year are also applicable to the current tax year.
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Default From Tax Year |
Specify the tax year to indicate that all the accommodation types defined in the tax year are also applicable to the current tax year The drop-down list box lists all the tax years defined in the “Create Tax Year” activity and whose status is “Active”. |
The system retrieves all the defined accommodation types for the selected tax year in the multiline.
To edit an accommodation type
You can edit all the details of an accommodation type except the "Accommodation Code".
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Accommodation Code |
The unique code that identifies an accommodation type. |
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Accommodation Description |
The description of the accommodation type. |
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Accommodation Long Description |
A brief description of the accommodation type. |
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Ownership |
By default, the system displays with a blank value. From the drop-down list box select “Owned”, “Government Quarters”. “Leased/Rental”, or “Hotel Accommodation” to indicate the ownership of the accommodation. |
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Nature of Accommodation |
Indicate the nature of the accommodation as “Furnished” or “Not Furnished”. |
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Furnishing Details |
Indicate the nature of the furnishing details by selecting “Owned”. or “Hire/Rental”. |
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Location Details |
From the drop-down list box select. “Population Greater than four lakhs” or “Population Less than four lakhs” to indicate the location of the accommodation. |
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% of Salary |
The percentage of salary that is charged as the value of the perquisite. |
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% of Furniture Cost |
The percentage of the furniture cost that is charged as the value of the perquisite. |
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Recovery Pay Element |
The pay element through which the amount is recovered For example, if the company recovers some value for the accommodation provided. |
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Help facility available | |
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Inactive |
Set the status to “NO” to indicate that the record is available for use and “Yes” for otherwise. |
6 Hyperlinked topics below
You can use this page to edit a rent-free accommodation perquisite.