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Question from indranilbabu on Aug 6 at 6:58 AM Requirement: Statutory contributions to be deducted in each bi-monthly payroll cycle based on the actual earnings of the associate. In the 1st payroll period statutory contribution amount to be decided considering actual earnings of that bi-month. To arrive statutory contribution for 2nd payroll period, contribution amount of the 1st payroll period is deducted from the contribution amount calculated for the monthly period (current and previous bi-month combined).
How to achieve this? One way may be to change the Financial Year from 1st Jan to 31th Dec.to Financial Year 16th Dec to 15th Dec.
Any other alternative advice?
Thanks in Advance
Indranil Banerjee
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