PF Admin Charges are paid towards maintaining the PF Account.
To create PF Admin Charges Pay Head,
Go to Gateway of Tally > Payroll Info. > Pay Heads > Create
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Enter the name of the Pay Head in the Name field
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Select Employer’s Other Charges as the Pay Head Type from the list of Pay Head Types
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Select Admin Charges (A/c No. 2) in the Statutory Pay Type field
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Select Current Liabilities from the List of Groups in the Under field
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By default, Affect Net Salary is set to No
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The Calculation Type field is pre-filled with As Computed Value and Calculation Period is pre-filled with Months by default
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By Default Rounding Method is set to Normal Rounding and Rounding Limit as 1.
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The Compute field is pre-filled with On PF Gross
Note: PF Gross is refers to the value of Pay Heads used for A/c. No. 1 (Employee PF) Pay Head.
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In the Effective Date field, enter the desired date from which the PF Admin Charges will be charged
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Enter the values in the From Amount and Amount Upto fields if required
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Slab Type is pre-filled as Percentage
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Enter the admin charges percentage in the Value Basis field
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Press Enter to accept.
Note: This Pay Head will not be included in the Salary Details for the Employees as this is an employer related expense and needs to be handled separately. |
