Hi ,
I am not understanding how the system is doing HRA exemption when employee joined in mind of the month .I am giving below details .Can any body explain the system calculation .This very urgent please help me out.
Monthly Employee joined on Joined Sept 05
Basic 14584 13258.18
HRA 5834 5303.64
SPL 2519 2290.00
TA 800 727.27
MA 1250 1136.36
Total 24987 22715.45
HRA Rent declared in 581 -8000INR,NON -METRO
System calculation
BEGDA ENDDA AAC BASIS ELIGI RENT DIFF
09052011 09302011 1 13258.18 5303.64 6,933.33 0.00
Finding the rent for HRA/CLA/COA in the financial year and the no.of days for HRA in coming months
BEGDA ENDDA AAC RENTFY TOTMONS
09052011 09302011 1 54,933.33 6.00000E+00
Finding the annual basis.
Elig(Annual)=Elig(YTD)Elig(curr Mon)ProjMonths*Latest value
Basis (Annual)=Basis(YTD)Basis((curr Mon)ProjMonths*Latest value
Non metro HRA Elig=
42,021.12=0.005,303.646.00E+00*6119.58
Non Metro HRA Basis=
105.045.50=0.0013,258.100.00600E00*15297.90
Non Metro HRA Exemption is 0.00
the minimum of the following three
42,018.23=40.00*105045.58/100
44,021.12
44,428.77=54,933.33-(10.00*105045.58/42021.12)
Total HRA=42,018.23
My questions :
1 .Elig(Annual)=Elig(YTD)Elig(curr Mon)ProjMonths*Latest value
Non metro HRA Elig=
42,021.12=0.005,303.646.00E+00*6119.58
As per Employee Eligible HRA -5834 , how the system is calculating 6119.58(how did this value derived )Please explain
42,021.12=0.005,303.64(sept Eligi HRA)6.00E+00*6119.58(what is this value)
2. Basis (Annual)=Basis(YTD)Basis((curr Mon)ProjMonths*Latest value
Non Metro HRA Basis=
105.045.50=0.0013,258.100.00600E00*15297.90
As per Employee Eligible Basic -14584 , how the system is calculating 152997.90(how did this value derived )Please explain
105.045.50=0.0013,258.10(sept Eligible Basic)0.00600E00*15297.90(what is this value)
Kindly explain me how the system calculating ,You answer is very valuable form me ........
Thanks
Nandu