If employee regular full and final has been paid and after full and final an amount like performance linked incentive or any other payment is to be paid to employee then we can process post separation payment in the system.
Select the name of the employee for whom you want to process the payment and fill up the details as shown below and click on Next.
In the next step you can select the heads and the month against which payment has to be recorded. Click on "Confirm" once you have given the inputs.
Please note -
1. All salary heads which are in used in company salary structure will
be come in drop down. You can select the appropriate head and update amount which
you want to pay to employee
2. Statutory compliance like PF, ESI and LWF will not be deducted automatically.
Employee's last working day has already been updated on government portals for
these statutory compliance. For Profession Tax, you can update manually update
the amount to be deducted on this page. Click on "Next" to process the payment.
3. TDS will be deducted automatically based on the regime declared by the employee
and the applicable tax slab. The payment will be linked to the latest payroll which has been run in the company.
To review and download the payment and tax details. Click on "Output Files"
You can also view details of payments made through this process in Payroll Report > Employee Reports > Post separation payments.
Note -
1. If regular full and final and post separation payment are in same financial
year then calculation for TDS will be based on the annual payment and exemptions
under Section 10 and VIA will be considered
2. If regular full and final and post separation payment are in different financial
years then calculation for TDS would be based on financial year tax slab rate
in which this payment is being made
After confirming post separation payout, entry will be visible on Payroll > Files files page. You can generate the PT document from here.
After close payroll month from files page, employee name will be available for
TDS challan updation and it can be included in 24Q return. You can also generate
Form 16 Part B for these employees. You cannot process a post separation payout
if Form 16 part B has already been created for a financial year.