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spay:userguide:employee_edfadj [2009/09/30 11:55] dbeeharry |
spay:userguide:employee_edfadj [2020/06/05 15:22] (current) mclement |
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| If however the record does not exist, it should be created. | If however the record does not exist, it should be created. | ||
| - | {{:spay:usermanual:empedf.jpg|}} | + | {{:spay:userguide:edfadj1.jpg|}} |
| ===== Create a new EDF or modify an existing EDF ===== | ===== Create a new EDF or modify an existing EDF ===== | ||
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| - a change is notified as from the 1st month of the fiscal year OR | - a change is notified as from the 1st month of the fiscal year OR | ||
| - the Government authorities officially declare new Income Exemption Threshold amounts | - the Government authorities officially declare new Income Exemption Threshold amounts | ||
| + | * **Additional Exemption:** This is the amount found on employee EDF - for those having children pursuing undergraduate course | ||
| + | * **Interest Relief:** This is the amount found on employee EDF - for those having contracted a house loan (first time home owners) | ||
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| {{skb:info.png}}An EDF adjustment is done only when the employee changes <fc #6495ed>Income Exemption Threshold</fc> category, i.e there is a change in the number of dependents of the employee. | {{skb:info.png}}An EDF adjustment is done only when the employee changes <fc #6495ed>Income Exemption Threshold</fc> category, i.e there is a change in the number of dependents of the employee. | ||
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| - | * **First Employment:** Flag is activated when employee starts working for the first time in the current fiscal year | + | * **First Employment:** Flag is activated when employee submits an EDF for the first time in the current fiscal year |
| * **Pensioner:** Flag is activated if employee is more than 60 years of age | * **Pensioner:** Flag is activated if employee is more than 60 years of age | ||
| * **Tax Exemption:** Flag is activated to force the system not to calculate tax for the employee | * **Tax Exemption:** Flag is activated to force the system not to calculate tax for the employee | ||
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| * **PAYE Er %:** The percentage tax the employer has to pay for the employee | * **PAYE Er %:** The percentage tax the employer has to pay for the employee | ||
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| ====== Apply Employee Declaration Form (EDF) Adjustment ====== | ====== Apply Employee Declaration Form (EDF) Adjustment ====== | ||
| An EDF adjustment is done when the employee changes <fc #6495ed>Income Exemption Threshold</fc> category, i.e there is a change in the number of dependents of the employee and this, as from the 2nd month of the fiscal year | An EDF adjustment is done when the employee changes <fc #6495ed>Income Exemption Threshold</fc> category, i.e there is a change in the number of dependents of the employee and this, as from the 2nd month of the fiscal year | ||
| - | {{:spay:usermanual:empedf2.jpg|}} | + | {{:spay:userguide:edfadj2.jpg|}} |
| + | The pointer must be positioned on the employee EDF record first then, input the following in the EDF adjustment form: | ||
| * **Adj. No.:** Input the numeric sequence of the adjustment | * **Adj. No.:** Input the numeric sequence of the adjustment | ||
| * **Total Tax Deduc.:** Input the new E.D.F amount as per the new E.D.F Category | * **Total Tax Deduc.:** Input the new E.D.F amount as per the new E.D.F Category | ||
| + | * **Additional Exemption.:** Input the same amount found on top of screen for this same employee (if there is an amount - else this would be zero) | ||
| + | * **Interest Relief.:** Input the same amount found on top of screen for this same employee (if there is an amount - else this would be zero) | ||
| * **E.D.F Date:** Input the date specified on the new E.D.F form | * **E.D.F Date:** Input the date specified on the new E.D.F form | ||
| * **Periods left:** The number of periods left over the current fiscal year as from the adjustment date is displayed automatically | * **Periods left:** The number of periods left over the current fiscal year as from the adjustment date is displayed automatically | ||
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| ===== Additional Information ===== | ===== Additional Information ===== | ||
| - | {{skb:info.png}} The Income Exemption threshold, E.D.F divider and other parameters vary according to each fiscal year. See below | + | {{skb:info.png}} The Income Exemption threshold, E.D.F divider and other parameters vary according to each fiscal year. See below to refer to the Yearly Parameters |
| - | {{skb:info.png}} The employees EDF list should be input for each fiscal year and can be automatically copied from the previous fiscal year to the new fiscal year at the beginning of the fiscal year. | + | {{skb:info.png}} The employees EDF list should be input for each fiscal year and can be automatically copied from the previous fiscal year to the new fiscal year at the beginning of the year. Refer to the New Fiscal Year Procedure |
| ===== Related Links ===== | ===== Related Links ===== | ||
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| - | {{skb:link.png}}[[:spay:usermanual:param_yearly|Yearly Parameters]] | ||
| {{skb:link.png}}[[:spay:usermanual:emp_empedf|Employee Declaration Form]] | {{skb:link.png}}[[:spay:usermanual:emp_empedf|Employee Declaration Form]] | ||
| {{skb:link.png}}[[:spay:procguide:finproc_fiscal|New Fiscal Year Procedure]] | {{skb:link.png}}[[:spay:procguide:finproc_fiscal|New Fiscal Year Procedure]] | ||
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| + | {{skb:link.png}}[[:spay:usermanual:param_yearly|Yearly Parameters]] | ||
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