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spay:hrmsprocguide:fair_share_contribution [2026/02/16 11:23] mclement |
spay:hrmsprocguide:fair_share_contribution [2026/02/16 14:16] (current) mclement |
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| * Step 3: Ensure that the employee’s **Reliefs and Exemptions** are correctly applied according to his EDF. | * Step 3: Ensure that the employee’s **Reliefs and Exemptions** are correctly applied according to his EDF. | ||
| * **(110000 * 9 / 13) + 0 + (0 * 1)** is illustrated via 3(a–e) and correspond to the following: | * **(110000 * 9 / 13) + 0 + (0 * 1)** is illustrated via 3(a–e) and correspond to the following: | ||
| - | * 3a → **110,000** shows an EDF was submitted in July 2025 with a total exemption of Rs 110,000 | + | * 3a → **110,000** shows an EDF was submitted in July 2025 with a total exemption of Rs 110,000. |
| - | * 3b → **9** refers to the month of February 2026, which is the 9th month of the fiscal year. | + | * 3b → **9** refers to the month of February 2026, which is the 9th month of the fiscal year. |
| * 3c → **13** represents the fiscal year runs from July 2025 to June 2026 and has 13 months, including the end-of-year bonus. | * 3c → **13** represents the fiscal year runs from July 2025 to June 2026 and has 13 months, including the end-of-year bonus. | ||
| * 3d → **0** indicates that there is no EDF adjustment for previous months. | * 3d → **0** indicates that there is no EDF adjustment for previous months. | ||
| * 3e → **0 * 1** indicates that no EDF adjustment is spread over the remaining months of the fiscal year. | * 3e → **0 * 1** indicates that no EDF adjustment is spread over the remaining months of the fiscal year. | ||
| - | * Step 4: Ensure that the **Chargeable Income** correctly corresponds to the difference between the Total emoluments (including Taxable benefits) and the "**Less Reliefs and Exemption**". | + | * Step 4: Ensure that the **Chargeable Income** correctly corresponds to the difference between the **Total emoluments (including Taxable benefits)** and the **Less Reliefs and Exemption**. |
| * Step 5: Check the **Tax Charged (PAYE)** from the Tax on Progressive Scale table. The table is illustrated via **Illustration B** below | * Step 5: Check the **Tax Charged (PAYE)** from the Tax on Progressive Scale table. The table is illustrated via **Illustration B** below | ||
| * Step 6: Check the **Tax Charged (Fair Share Contribution)** from the Fair Share Contribution table. The table is illustrated via **Illustration C** below | * Step 6: Check the **Tax Charged (Fair Share Contribution)** from the Fair Share Contribution table. The table is illustrated via **Illustration C** below | ||
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| {{:spay:hrmsprocguide:tax_withheld_in_the_month_only_step_8_detailed2.png|}} | {{:spay:hrmsprocguide:tax_withheld_in_the_month_only_step_8_detailed2.png|}} | ||
| - | {{:spay:hrmsprocguide:february_2026_steps_5_to_8.png|}} | ||
| * <fc #ff00ff>**For a clearer understanding of the figures in Steps 7 and 8, please refer to the PAYE Calculation Checklist for March 2026 below, once the February 2026 payroll has been finalised.**</fc> | * <fc #ff00ff>**For a clearer understanding of the figures in Steps 7 and 8, please refer to the PAYE Calculation Checklist for March 2026 below, once the February 2026 payroll has been finalised.**</fc> | ||