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spay:hrmsprocguide:yearlyproc_procedure [2019/07/14 11:59]
mclement
spay:hrmsprocguide:yearlyproc_procedure [2019/08/05 02:16] (current)
mclement
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 +====== Yearly Parameters ======
 +
HRMS Payroll automatically creates the new fiscal year after closure of June's payroll, It also copies previous year parameters, e.g PAYE threshold, PAYE Scale, Employee EDF's etc. to the new fiscal year. HRMS Payroll automatically creates the new fiscal year after closure of June's payroll, It also copies previous year parameters, e.g PAYE threshold, PAYE Scale, Employee EDF's etc. to the new fiscal year.
-However, with regards to the new fiscal year 2020 (01 July 2019 to 30 June 2020), the changes announced in the budget speech concerning the new EDF categories have not yet been communicated by the MRA, we will keep you informed as soon as the official communique is available. +With regards to the changes brought to the new fiscal year 2019-2020 you are requested to go through the steps below:
- +
-Concerning the new NPF ceiling of July 2019 you are requested to download the new HRMS Payroll version. The new version caters for the automatic update of the lower and upper ceiling for fiscal year 2020. After the updates have been applied, verify the the new NFP ceiling using the following steps:+
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  *  Step 3: Click **Update Yearly Parameters**   *  Step 3: Click **Update Yearly Parameters**
-{{:spay:hrmsprocguide:yearly_procedures_overview.png|}}+{{:spay:hrmsprocguide:yearly_procedures_overview_1.png|}}
  *  Step 4: Verify **NPS Monthly Factor (Min & Max)**   *  Step 4: Verify **NPS Monthly Factor (Min & Max)**
-{{:spay:hrmsprocguide:yearly_params_npf_2020.png|}}+{{:spay:hrmsprocguide:yearly_params_npf1_2019_2020.png|}} 
 + 
 +  *  Step 5: Verify **Income Exemption Threshold** 
 + 
 +{{:spay:hrmsprocguide:yearly_params_paye1_2019_2020.png|}} 
 + 
 +  *  Step 6: Verify **EDF Categories** 
 + 
 +{{:spay:hrmsprocguide:yearly_params_edf1_2019_2020.png|}} 
 + 
 +====== Statement of Emoluments and Yearly Returns ====== 
 + 
 +{{skb:link.png}}[[:spay:hrmsprocguide:yearlyproc_soereturns|Statement of Emoluments and Yearly Returns]]

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