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IN PAY: How to Change in Financial Calendar for Payroll
Hi Experts,
Sorry for the blast...
We are implementing Oracle eBiz HR and payroll (R12.1.3) with IN legislation at one of the manufacturing companies in India. They are currently paying the salary for all their employees for a month on the 7th of the following month. Hence from a tax calculation perspective their first financial month is March and hence they follow a March to February cycle for all their financial and government reporting, instead of the normal April to March cycle.
I would like to know how can this be addressed by payroll for IN legislation. Has anyone come across this or a similar issue in IN or any other legislation and what was the approach suggested and the possible implications.
Sorry for the blast...
We are implementing Oracle eBiz HR and payroll (R12.1.3) with IN legislation at one of the manufacturing companies in India. They are currently paying the salary for all their employees for a month on the 7th of the following month. Hence from a tax calculation perspective their first financial month is March and hence they follow a March to February cycle for all their financial and government reporting, instead of the normal April to March cycle.
I would like to know how can this be addressed by payroll for IN legislation. Has anyone come across this or a similar issue in IN or any other legislation and what was the approach suggested and the possible implications.
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