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 type is applicable. The tax year selected in the previous page appears. |
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Company |
The name of the company. |
It also displays system defined 14 types of accommodation types in the multiline.
You can modify the accommodation type or create a new accommodation type for computing its value.
To edit accommodation type
The system displays the following in the multiline.
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Accommodation Code |
A unique code to identify the accommodation type.
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Enter/Edit the following details in the multiline.
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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 |
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 available | |
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Inactive |
Set the status to “NO” to indicate that the record is available for use and “Yes” for otherwise. |
Click on the "Save" pushbutton to save the edited details.
6 Hyperlinked topics below
You can use this page to edit a rent-free accommodation perquisite.
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