Home Tally Prime How to Create Professional Tax deduction Pay Heads in Tally Prime?

How to Create Professional Tax deduction Pay Heads in Tally Prime?

4 min read
0
0
57

How to Create Professional Tax deduction Pay Heads in Tally Prime?

Step: GOT > Create > Pay Heads > Enter

Ø After reaching by follow above step, fill all details to create Professional Tax deduction Pay Heads like,

· Name–Enter the name of statutory deduction Pay Heads. like I Enter “Professional Tax”

· Pay head type – In this section different type of Pay heads are listed. Select “Employees’ Statutory Deductions” from list to create Statutory Deduction Pay heads.

· Statutory pay type – In this section different type of Employee Statutory Deduction are listed. Select “Professional Tax” from list to create Employee‘s Professional tax deduction Pay heads.

· Registration Number – Type Professional tax registration number of your company or Employer. Like I type “KA/PT/34567345”.

· Under – Select “Current Liabilities” because Professional tax deduction is Current Liabilities for Employer.

· Affect Net Salary – Set to this option “Yes” because Professional tax deduction Affect

net Salary.

· Name to be displayed in payslip – Type name “Professional Tax“ to print in Pay slip

· Calculation Type – Automatic set “As Computed Value”.

· Calculation Period – Select “Months” for Calculation of Professional Tax as Month-wise.

· Rounding Method – Select any rounding method to round off Decimal portion of ESI

amount. Like I select “Normal Rounding”.

· Limit – Type Limit amount of rounding to round off according to limit. Like I type “1”.

· Compute – Select “On Current Earning Total” Because we Calculate Professional Tax

basis on total earning current earning of Employee.

· Effective from – Type Date from which you apply Professional tax rate for employee in Tally prime. Like I type “1/Jan/2021”.

Ø After typing date, Fill Professional Tax slab rate which is apply in your state. Like I filling a slab rate which is apply in my state just this following table:

Amount Greater than

Amount Up To

Slab type

Value

0

5000

Value

0

5000

8000

Value

60

8000

10000

Value

100

10000

15000

Value

150

15000

Value

200

Ø Fill all Above details in Pay heads screen to create Professional tax Deduction Pay heads like following screenshot:

Ø Press Enter or Ctrl+A to save this screen.

Part 4: Create Statutory Contribution of Employer Pay heads

Statutory Contribution Pay Heads – All amount Contributed by Employer to his employees as fund for them. Like EPS, PF, ESI, NPS contribution etc.

a. PF Statutory Contribution Pay Heads

Load More Related Articles
Load More By amitgupta
Load More In Tally Prime

Leave a Reply

Check Also

What is Account Master & How to Create Modify and Delete

What is Account Master & How to Create Modify and Delete Administration > Masters &…