Maintain employee fringe benefits – A summary of the activity

Through this activity, you can maintain the employee wise fringe benefits details. Maintaining fringe benefits involves recording, editing, and viewing the employee’s fringe benefit details. Additionally, you can use the previous year’s fringe benefit details and tailor it according to the current year’s requirements.

Recording employee fringe benefits: You can record the following details.

• The tax setup unit and the tax year for which you require to maintain the employee fringe benefits details.

• The unique code identifying the employee.

• The tax item of the selected tax type.

• The taxable income and the tax exemption amount. For example you can select a particular tax item such as “Acquisition of Assets” under a tax type for which you can specify the taxable income and the tax exemption amount.

Retrieving employee fringe benefit details from a previous tax year: You can select the tax year for which you can retrieve the fringe benefit details. The system will display the fringe benefit details of the employee for the specific tax year.

Modifying existing employee fringe benefits details: You can select the tax setup unit, default tax year and tax type to retrieve the records that requires modification. . The system will retrieve the records based on the search criteria. Other than taxable income and the tax exemption amount you cannot modify any other fields.

Viewing employee fringe benefit details:You can view the existing employee fringe benefits records for a specific tax setup unit, tax year and tax type.

Getting familiar with the pages inside

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Prerequisites

Tax Year, Tax Item and Tax Type must have been defined

What you can do in this activity

Record the taxable income and the exemption amount for an employee