CTC refers to the total amount of money a company spends on an employee in a year. To resolve the error message, Salary cannot be saved since CTC component is not defined! The admin must define the CTC component on the Payroll Preferences page.
To define the CTC, the admin must perform the following actions:
From the greytHR Admin portal, navigate to the Settings icon > System Settings > Payroll > Payroll Preferences. The Payroll Preferences page opens.
1. Under the Payroll section, from the Salary Type dropdown list, select CTC Based.
2. From the CTC Type dropdown list, select Monthly CTC.
3. Click Save to update your customizations.
Note: After customizing these options you will now be able to revise an employee’s salary from the Salary page without any CTC error.
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Related Links:
Video - To watch the video on admin portal, click here.
FAQs - To read more FAQs about System Settings, click here.
Documentation - To read more about Payroll preferences, click here.
Product Update - To read about the product update, click here.
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