Salary Revision
Salary revision refers to a change in the salary structure of employees that affects the primary components of their pay, including basic pay, PF, and gratuity. Some companies may also include other allowances such as house rent, special allowance, medical, and travel allowance.
Steps to Revise Salary
Navigate to My Team Finance → Salary Info → Salary Revision
To revise an employee’s salary, you should have completed at least one pay run for them.
Locate the employee’s salary record.
In the Actions column, click the three dots and select Revision.
The Revise Salary window will appear.
Choose Revision Type: Revise by Percentage or Fixed Amount of CTC.
Enter the Salary Effective From date and the Payout Month for the revised salary.
Once you enter the percentage or fixed amount, the Annual CTC and Monthly CTC will be calculated automatically.
If you need to update any fixed amount in the earnings components, modify them as required.
Based on the revised salary, retirals (PF, ESI, etc.) will be calculated automatically.
Click Save.The revised salary will move to the approval process.
The incremented salary will be updated in the salary details only after approval.
Fig: Salary Revision
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