How to configure Covid-19 PF Relief Component?

Created by Product Content Team, Modified on Mon, 18 Mar at 7:02 AM by Product Content Team

Perform the following steps to configure Covid-19 PF Relief Component:

  1. You can navigate to Covid-19 PF Relief page through Payroll > Payroll Inputs > Salary or Payroll > Process > Payroll Process. In both the pages, you can see an information box with a link to click Configure Now. Click Configure Now and you will be navigated to Covid-19 PF Relief page.   
  2.    On the Covid-19 PF Relief page, select Employee PF Contribution percentage and Employer PF Contribution percentage from the drop-down list.
  3.    Select Yes or No for Is Employer PF part of CTC and would like to pay back the excess PF amount to employees option button. If you choose Yes, you are agreeing to pay back the extra 2% amount to your employees. 
  4.   Select Monthly Employer PF component which is part of CTC from the drop-down list. The selected component will be used for calculating the differential 2% which is to be paid back to the employee.
  5.  Type the new component name in Excess amount to be paid as text box. A new component will be created under your Gross and your employees will receive the excess PF amount under this component name. 
  6. Select the disclaimer checkboxYou cannot proceed without selecting the disclaimer checkbox.
  7. Click Save to configure your Covid-19 PF relief component. You can see a success message if your configuration is saved.
  8. To see the results, process the payroll. 

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Related Links:

Video - To watch a video on Covid relief, click here.

FAQs-To read more FAQs about Covid relief, click here.

Documentation- To learn more about the Admin portal, click here.

Product Update- To read about the product update, click here.

 

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