<fieldname="amount_python_compute">result=payslip.company_id.dearness_allowance and ((contract.wage + DA) * 0.50) or (contract.wage * 0.50) if (contract.city_type=='metro') else payslip.company_id.dearness_allowance and ((contract.wage + DA) * 0.40) or (contract.wage * 0.40) if (contract.city_type=='non-metro') else 0.00</field>
<fieldname="amount_python_compute">result = payslip.company_id.dearness_allowance and ((contract.wage + DA) * contract.house_rent_allowance_metro_nonmetro / 100) or (contract.wage * contract.house_rent_allowance_metro_nonmetro / 100)</field>
<fieldname="category_id"ref="hr_payroll.ALW"/>
<fieldname="name">House Rent Allowance for metro and nonmetro city</field>
<fieldname="note">As per Income tax rules of India, if transport bills for LTA are not provided,the amount will be taxed. E.g. If an employee has LTA allowance as Rs 50,000 in his CTC(cost to company),and he provides proofs of Rs 40,000 (boarding pass,air tickets, taxi vouchers) then income tax will be deducted for rest of the Rs 10,000. Does not matter whats the amount of LTA in an employee’s package, income tax laws only permits domestic air tickets only for LTA claim.</field>
</record>
@@ -152,8 +182,8 @@ number of years of service (date of joining – date of retirement/leaving job)<
<fieldname="note">Payment by way of leave encashment received by Central and State Govt.employees at the time of retirement in respect of the period of earned leave at credit is fully exempt. In case of other employees, the exemption is to be limited to minimum of all below:
1.The actual amount received
@@ -162,29 +192,40 @@ number of years of service (date of joining – date of retirement/leaving job)<
<fieldname="note">Some employers may provide component for buying magazines, journals and books as a part of knowledge enhancement for business growth.This part would become non taxable on providing original bills.</field>
<fieldname="name">Uniform/Dress Allowance for Senior Executive</field>
<fieldname="category_id"ref="hr_payroll.ALW"/>
<fieldname="amount_select">fix</field>
<fieldeval="0.0"name="amount_fix"/>
<fieldeval="1000"name="amount_fix"/>
<fieldname="sequence"eval="35"/>
<fieldname="note">Some sections of employees mat get allowance for purchase of office dress/uniform.In such case, the component would become non-taxable.</field>
<fieldname="name">Uniform/Dress Allowance for Junior Executive</field>
<fieldname="category_id"ref="hr_payroll.ALW"/>
<fieldname="amount_select">fix</field>
<fieldeval="600"name="amount_fix"/>
<fieldname="sequence"eval="42"/>
<fieldname="note">Some sections of employees mat get allowance for purchase of office dress/uniform.In such case, the component would become non-taxable.</field>
<fieldname="note">In some of the cases, companies may provide a component for telephone bills.Employees may provide actual phone usage bills to reimburse this component and make it non-taxable.
</field>
@@ -237,8 +288,8 @@ number of years of service (date of joining – date of retirement/leaving job)<
<fieldname="note">In case company provides component for this and employee use self owned car for official and personal purposes, Rs 1800 per month would be non-taxable on showing bills for fuel or can maintenance. This amount would be Rs 2400 in case car is more capacity than 1600cc.</field>
</record>
@@ -247,8 +298,8 @@ number of years of service (date of joining – date of retirement/leaving job)<
<fieldname="note">As per income tax rules, all payment which are taxable in nature should be done after deduction of taxes at the source itself. Hence employer compute income tax on salary payment and deduct it every month. This TDS is based on employee’s saving/investment declaration at the start of year. If investments for tax saving is not done, large amount may be deducted in last few months.</field>
</record>
@@ -297,7 +349,7 @@ number of years of service (date of joining – date of retirement/leaving job)<
<fieldname="note">VPF is a safe option wherein you can contribute more than the PF ceiling of 12% that has been mandated by the government.This additional amount enjoys all the benefits of PF except that the employer is not liable to contribute any extra amount apart from 12%.An added advantage is that the interest rate is equal to the interest rate of PF and he withdrawal is tax free. Please note that the maximum contribution towards VPF is 100% of your Basic.The highest rate of interest (close to 9%) makes it a very attractive saving scheme. Because of these advantages many employees chose not to close their PF account even after getting employment else where other than India.Employees also get a major tax break on their entire contribution to the fund up to a ceiling of Rs. 70,000/-</field>
</record>
@@ -331,27 +385,42 @@ number of years of service (date of joining – date of retirement/leaving job)<
<fieldname="note">The LWF is applicable to all the members of the organisation except the Management staff (Staffs having authority to sign on the cheque/official documents on behalf of the organisation). for e.x. Employee Contribution is Rs. 3.00 and Employer contribution Rs. 6.00 Total Rs 9.00 and deposited to the LWF office.It is half yearly contribution (June and December).</field>
<fieldname="note">The LWF is applicable to all the members of the organisation except the Management staff (Staffs having authority to sign on the cheque/official documents on behalf of the organisation). for e.x. Employee Contribution is Rs. 3.00 and Employer contribution Rs. 6.00 Total Rs 9.00 and deposited to the LWF office.It is half yearly contribution (June and December).</field>
</record>
@@ -360,8 +429,10 @@ number of years of service (date of joining – date of retirement/leaving job)<
<fieldname="name">Deduction Towards Company Provided Group Term Insurance</field>
<fieldname="note">Group term insurance provides a solid foundation to a comprehensive employee benifit program,backed up by government asistance in the form of valuable tax incentives to both employees and employers.</field>
<fieldname="note">Any amount contributed by your employer to your NPS account is treated as part of your salary and is included in your income but you can claim deduction under Section 80C for this too.thus, effectively making it exempt from tax within the limit of 10% of your basic salary. This is very useful and tax efficient for you particularly if you fall in the maximum tax.</field>
</record>
@@ -416,5 +491,60 @@ number of years of service (date of joining – date of retirement/leaving job)<
<fieldname="note">Both the employees and employer contribute to the fund at the rate of 12% of the basic wages, dearness allowance and retaining allowance, if any, payable to employees per month.</field>
'driver_salay':fields.boolean('Driver Salary',help="Check this box if you provide allowance for driver"),
'medical_insurance':fields.float('Medical Insurance',digits_compute=dp.get_precision('Payroll'),help="Deduction towards company provided medical insurance"),
'voluntary_provident_fund':fields.float('Voluntary Provident Fund',digits_compute=dp.get_precision('Payroll'),help="VPF computed as percentage(%)"),
'city_type':fields.selection([
('metro','Metro'),
('non-metro','Non Metro'),
],'Type of City'),
}
_defaults={
'city_type':'non-metro',
'house_rent_allowance_metro_nonmetro':fields.float('House Rent Allowance for Metro and Non Metro City',digits_compute=dp.get_precision('Payroll'),help="HRA computed as percentage(%)"),
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Mustufa Rangwala (OpenERP)