Compensation Components for Salary Basis where it should be a minimum of value/percentage
We need to have a Salary Basis where the Gross Salary for the Employee should be entered and it will be divided into multiple components. We were able to do it but we have few requirements where the component should be minimum of a percentage of gross salary or a fixed amount.
eg - Conveyance Allowance - 5% of Gross Salary or 2,500 whichever is lower
Also the residual amount after all the divisions should be listed as LTU.
These are very important to the client as they need to have 60% of Gross Salary as Basic Payment and the rest are needed as flexible components in order for the taxation purposes of their country.