Best Practices for compensation data for India (CTC vs Component setup)

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Hi everyone,

I’m looking for some feedback on best practices related to storing compensation data for India in Oracle.  We are trying to help them streamline some payroll processes and appreciate any thoughts or feedback.

We currently store ‘annual salary’ in oracle representing the CTC cost combining multiple components.  In India we use ADP for payroll and not through Oracle.  Do most companies implement components in Oracle and store that data or leave it as CTC cost only?

 

Thanks for your help!