How to write India Payroll HRA Allowance FastFormu
Posted: Thu Mar 21, 2013 5:48 am
Hi,
I am very new to Oracle Payroll Fast Formulas. We are implementing Payroll for India Legislation. I have created House Rent Allowance Element from Element Wizard, and Primary classification as 'Allowances'. System by default created one Fast Formula with Element_Name_ACTEXP_CALC. Please advice me what I should use whether this formula or I should create new Formula Based on the Metro - 50%*Basic sal and NonMetro - 40%*Basic Sal.
If I create custom fast formula, will it create balances and tax deduction Info.
Appreciate your quick response.
Pls mail me @ sivakumar999@gmail.com if you have written fastformulas for India Legislation.
Thanks & Regards,
Sivakumar P
I am very new to Oracle Payroll Fast Formulas. We are implementing Payroll for India Legislation. I have created House Rent Allowance Element from Element Wizard, and Primary classification as 'Allowances'. System by default created one Fast Formula with Element_Name_ACTEXP_CALC. Please advice me what I should use whether this formula or I should create new Formula Based on the Metro - 50%*Basic sal and NonMetro - 40%*Basic Sal.
If I create custom fast formula, will it create balances and tax deduction Info.
Appreciate your quick response.
Pls mail me @ sivakumar999@gmail.com if you have written fastformulas for India Legislation.
Thanks & Regards,
Sivakumar P