Tally Prime

Create Salary, PF, ESI, NPS, PF Admin Expenses Payable Ledgers in TallyPrime (Payroll) To process Salary in TallyPrime, you can create payable ledgers for salary, PF, ESI, NPS and PF admin. In This Section : Salary Payable Ledger PF Payable Ledger ESI Payable Ledger National Pension Scheme (NPS) Payable Ledger PF Admin Expenses

Create Pay Heads and Define Income Tax Details in TallyPrime (Payroll) The salary components constituting an employee’s pay structure are Pay Heads. A pay head may be a benefit or a deduction from the salary. The value of these pay heads could be fixed or variable for each payroll period. For example, Basic Pay is a fixed pay component, whereas Variable Pay and Bonus are variable components. A Pay Head Type is categorised as Earnings, Deductions or Reimbursements.  The default pay head types in TallyPrime are: Earnings for Employees Attendance based Earnings Pay Head Computation based Earnings Pay Head Flat Rate based Earnings Pay Head Production based Earnings Pay Head User Defined Earnings Pay Head  Deductions from Employees Canteen Deduction Pay Head Loans and Advances Pay Head  Employees’ Statutory Deductions PF Deduction Pay Head ESI Deduction Pay Head Professional Tax Deduction Pay Head NPS Deduction Pay Head Income Tax Deduction Pay Head  Employer’s Statutory ...

Create Employee Groups in TallyPrime (Payroll) Creating Employee Groups helps to classify employees based on different parameters, such as their job function, department, location, cadre/designation, and so on. You can also define salary structures at the Employee Group level to apply a common salary structure for an entire department such as Marketing, R&D, Sales, and Accounts.

Create Employee Categories in TallyPrime (Payroll) While an Employee Group is available by default, an Employee Category provides an additional level of employee classification. An employee category can be used to track the salaries paid to employees working in specific projects or locations such as Head Office and Regional Offices.   Create Single Employee Category 1. Gateway of Tally > Create > type or select Employee Category > and press Enter. Alternatively, press Alt+G (Go To) > Create Master > Employee Category > and press Enter. 2. Specify the name of the category to be added, in the Name field. 3. Set the option Allocate Revenue Items to Yes to allocate revenue related transaction values for employees created under this category. 4. Set the option Allocate Non-Revenue Items option to Yes to allocate non- revenue related transaction values for employees created under this category. In the Employee Category Creation screen , press F12 (Configure) > set Al...

Create Employees in TallyPrime (Payroll) The employee master in TallyPrime can be used to record all the employee related information. Along with the general information consisting of basic details of the employees, you can also enter the Payment, Statutory, and Contract details. To enter statutory details in the employee master, enable the option Provide Statutory Details in the Payroll Configurations screen. You can change the tax regime details of employees as per your requirement with revised applicable date as 01-Apr-2020 or later.

Configure Income Tax Components Pay Head Configuration in TallyPrime (Payroll) You can use the Pay Head Configuration screen to configure the Income Tax Component for all existing pay heads. You can also configure the ledgers which are used for making the Payroll payments for the respective Income Tax Component.

Override Tax Value in TallyPrime (Payroll) You can use the Override Tax Value screen to override the amount deducted towards income tax each month. You can also use the screen to specify the period in which you want to override the income tax amount. Note: When you specify the Override Tax Amount for any of the months, the actual tax amount computed by the system is not used for deduction. Gateway of Tally > Alter > type or select Income Tax Amount . Alternatively, press Alt + G (Go To) > Alter Master > type or select Income Tax Amount and press Enter . In case the master is inactive, you will be prompted to enable the Payroll feature for your Company. Select Yes or press Y to proceed. Select the required Employee from the List of Employees . In Effective From field, specify the date when the override becomes applicable. ...