Salary templates are created for the benefit of employers to have multiple templates stored in the portal based on different criteria such as experience, CTC, designation, departments, etc…
It is a useful feature, where the HR can easily accommodate the salary structure of a newly joined employee in a predefined template based on the criteria mentioned earlier.
Salary templates are the selection process of the salary components for a set of employees based on their CTC structure and keep them in the portal for immediate use.
Salary templates contain the standard components like Basic, HRA, Conveyance Allowance, Medical Allowance, special allowance, etc. Also, salary templates have FBP components such as fuel reimbursement, leave travel allowance (LTA), driver reimbursement, vehicle maintenance reimbursement, telephone reimbursement and contain a provision for deductions and One-time earnings.
With the help of the clone option, you can easily copy the existing template components into a new template and modify the existing contents as per your requirement.
To Add a new Salary Template
- Navigate to Settings > Payroll settings > General settings
- Click on Salary templates
- Click on ADD NEW
- Type the template name for the salary template, which will be visible for search and select the salary template on the employee’s salary details page.
- Type the appropriate “Description” for the salary template, by which you can quickly identify the salary template.
- Type the “Annual CTC” amount.
- By default, you can view the basic component & its value under the earnings; you can modify the percentage if necessary. If you have added one or more basic components in earnings, you may choose one of the basic types from the drop-down.
- You can add the other Earnings, Reimbursement, FBP Components, Deductions, and One-time earnings by clicking the “+” button on the left side expansion panel.
- Once you add the components, you can enter (or) modify the desired amount (or) percentage for each earning, reimbursement, and Flexible Benefit Plan (FBP)component(s).
- We will auto-calculate the fixed allowance when you save the salary template.
- Similarly, If you include the employer’s contribution of EPF and ESI in CTC, it will be auto-calculated as soon as you save the salary template.
- Finally, tap on the “Save” button to save the Salary template.
Once you save the salary template, it will be in the active status. You can deactivate it if necessary. On the employee’s salary detail, you can view (or) assign only the active salary templates
Note: You cannot delete or deactivate the salary template if it is associated with one or more employees.