To configure hourly/day-wise salary structure, go to Settings >> Salary components >> click “New”.
Create components as below and update Rate/Wages in respective employee master details and every month's payroll run update Hour/Days in the Pay Adjustments stage.
Component | Hour/Days | Rate | Result Component |
Name | Hour/Days | Rate/Wages | Basic |
Abbreviation | HOUR | RATE | BASIC |
Paid Component | No | No | Yes |
Pay Type | Earning | Earning | Earning |
Tax Status | Non Taxable | Non Taxable | Taxable |
Calculation Type | Flat | Flat | Formula |
Formula | 0 | 0 | (Hour/Days) * (Rate/Wages) |
Round off Value | Nearest to INR 1/- | Nearest to INR 1/- | Nearest to INR 1/- |
Component Type | Variable | Fixed | Fixed |
Is FBP component | No | No | No |
Create dependent component | No | No | No |
Attendance Dependent | No | No | No |
Part of CTC | No | No | Yes |
Active | Yes | Yes | Yes |
FFS component | No | No | No |
Payable if full month LOP | No | No | No |