How to write India Payroll HRA Allowance FastFormu

Oracle Human Resource (Core HR), Payroll, Time & Labor, Self Service HR, Advance Benefit, Talent Management (Performance Management, Competency Management, Performance Appraisal, Goal Management), iRecruitment, Compensation Workbench
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sivakumar999
Posts: 3
Joined: Thu Mar 07, 2013 4:03 am
Location: India

How to write India Payroll HRA Allowance FastFormu

Post by sivakumar999 »

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
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