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spay:procguide:finproc_fiscal [2019/07/14 10:22]
mclement
spay:procguide:finproc_fiscal [2019/08/04 02:46] (current)
mclement
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Sicorax 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. Sicorax 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 Sicorax 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 through the Yearly Parameters as follows:+
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**Fiscal Year Notice:** **Fiscal Year Notice:**
-**(1) As per MRA circular letter dated 03 August 2018, for fiscal year 2018-2019, the Exemption threshold is 23,461 as shown in the below screen.**+**(1) As per the Government Notice No. 46 dated 14 March 2017, the Transport relief ceiling effective as from 01 July 2016 is 11,500, refer to the below illustration.**
-**(2) As per Government Notice No. 46 dated 14 March 2017, the Transport relief ceiling effective as from 01 July 2016 is 11,500, refer to the below illustration.**+**(2) As per the Information Note of Business Mauritius dated 31 July 2019, the NPF ceilings have been revised with effect from 1st July 2019, refer to the below illustration**
-**(3) As per the website of the MRA, the NPF ceilings have been revised as from 1st July 2019. You will be provided with a new payroll version by Friday 12th July 2019 which will automatically cater for the new ceilings.**+**(3) Levy Min Rate 1% and Levy Min Wage Rs 10,000 Parameters have been updated according to the following HRDC Training Levy criteria which has been published on the website of the MRA with effect from July 2019:**
-**(4) Minimum Wage Parameter has been updated to Rs 9,900 for the purpose of the Special Allowance and Negative Income Tax statements, refer to the below screen to view the parameter.** +**Every employer is required to pay levy at the rate of 1.5 % of the total basic wage or salary of its employees other than a household worker. For period from July 2019 to June 2020, an employer is required to pay levy at the rate of 1% for employees whose total basic wage or salary does not exceed Rs 10,000.**
- +
-{{:spay:procguide:fiscalproc_yearlyparams_2020.png|}}+
 +{{:spay:procguide:fiscalproc_yearlyparams_2019_2020.png|}}
Should you need to amend the values follow the steps below: Should you need to amend the values follow the steps below:
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  *  Step 4: View EDF categories   *  Step 4: View EDF categories
-{{:spay:procguide:edf_2020.png|}}+{{:spay:procguide:edf_2019_2020.png|}} 
 + 
 + 
 +===== Employees EDF (view, maintain, adjust) ===== 
 + 
 +  *  Sicorax Payroll will automatically update the employee EDF in August with the new EDF categories. 
 + 
 +To view the updated employees EDF category and the columns representing sections 3.2 to 3.9 of the EDF form, follow the steps below: 
 + 
 +  *  Step 1: Go to Employee 
 + 
 +  *  Step 2: Click Employee EDF 
 + 
 +  *  Step 3: Click Apply 
 + 
 +{{:spay:procguide:employeeedf_2019_2020.png|}} 
 + 
 +To perform an EDF adjustment repeat steps 1 to 3 above 
 + 
 +  *  Step 4: Select the employee 
 + 
 +  *  Step 5: Record the adjustment as follows: 
 + 
 +  *  **Adj. No.:** Remove 0 and insert 1 in the case of the first EDF adjustment of the actual fiscal year  
 + 
 +  *  **3.1 to 3.9** Press Enter and the figures will appear automatically based on figures recorded in July. However, you must amend the figures for the current month if there are changes in his EDF category and/or sections 3.2 to 3.9 of his EDF. In the case of an unchanged EDF category, the value of column 3.1 of the adjustment menu must not be removed. 
 + 
 +  *  **E.D.F Date:** Insert the date specified on the new EDF form 
 + 
 +  *  **Periods left:** Press Enter and the number of periods left will appear automatically. It refers to the number of months left in the fiscal year. 
 + 
 +  *  **Tax Ded. Adj.:** Press Enter and the difference between the previous EDF and new the EDF will appear. Depending on the EDF adjustment, the Tax Ded. Adj. can be either a positive or a negative amount 
 + 
 +{{:spay:procguide:employeeedfadj_2019_2020_1.png|}} 
 + 
 +  *  **Note:** An EDF adjustment is performed only when the employee changes his EDF category and/or sections 3.2 to 3.9 of his EDF for the current month  
 + 
 +**<fc #ff0000>In the case of the EDF category remains unchanged and there is a change only in sections 3.2 to 3.9 of his EDF, while performing the adjustment, the EDF category must not be removed.</fc>** 
-===== Update Employees EDF (verify, maintain, and adjust) ===== 
-With regards to the new fiscal year 2020 EDF, the changes announced in the budget speech have not yet been communicated by the MRA, we will keep you informed as soon as the official communique is available. 

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