The resettlement option allows you to reprocess the final settlement calculations.
To know more on "How to Process the Resettlement," please click here.
The amount that is paid or deducted as a resettlement amount is subject to income tax calculations.
The income tax is deducted by the system during the process of the resettlement calculation. However, you have the option to override the resettlement tax amount for your employees.
Once you have processed the resettlement and want to override the tax, you must follow the below steps:
On the home page, click “Team.”
Scroll down to “Employees.”
Click “Directory.”
Click “Manage Exit.”
Click the Add Employee drop-down.
Click the “Resettlement” option.
Click the "Add employee” drop-down button.
Click the “Override Tax” option.
Click “Download template.”
Update the override amount in the override tax option in the template against the employee and save the file to the local drive.
Please note the income tax override amount:
- Will not be more than the respective month’s earnings.
- Will not be less than the computed IT amount.
Click “Choose file” and select the file.
Click “Import.”
And your file is imported successfully.
Please note: Once the file is imported successfully, the override tax amount is replaced with the system-calculated value, and there is no need to process the resettlement again. You can directly download the report and view the payslip.
In case you click “Process,” the tax override amount will be replaced with the system-calculated tax amount.