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Sep 06 at 04:05 PM

Incorrect calc for monthly tax paid by ER (PY IN)

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Hi all,

I am getting incorrect amount for "Monthly tax paid by employer" wage type (/4TM)

Correct amount should be around 10,755. But, it is coming as 26,314.

I have drilled down the payroll log and sharing the PCR calculation i.e. bringing this amount.

INET * ADDWT *

INET * AMT= /3RB

INET * AMT+ /ZRB

INET * MULTI RAA

INET * AMT/KGENAU

INET * NEXTR A

INET * RTE=0

INET * ADDWT /4TA

INET * AMT=0

INET * AMT=Z /4TA

INET * AMT-C /4TM

INET * NEXTR B

INET * RTE+Z /401

INET * RTE+1

INET * DIVID ARA

INET * RTE=0

INET * ROUNDGK100

INET * NEXTR C

INET * ADDWT /4TM

INET * ADDWT /110

* /3RB Perk value: 798,173.03

GENAU= 1,00,000

* /4TA Annual Tax 249,819.46

* /4MT Monthly Tax 87,412.59 162,493.07

* /401 Projection 7.00

Also, as per the documentation below of PCR INET, the calculation brings the amount around 10,916

Procedure

This rule calculates the annual and monthly tax amount paid by the

employer on the housing perquisites by the following formulas:

o Annual tax paid by employer is saved in wage type /4TA.

/4TA = /4TR X Housing Perquisites (/3RB)

o Monthly tax paid by employer is saved in wage type /4TM.

/4TM = (/4TA - Monthly Tax Till Date) / (Projection Factor(/401) +1)

Please help, I am unable to figure out where the issue is.