Symbolic Account setup for Statutory Technical/Custome wagetypes-India payroll
I am setting up the posoting charectristics for wage components.
My issue here is with PF,Labor welfare fund & professional tax.
these are the components those have to be setup for posting, plz let me know if i am missing any.
EDLI contri * 1,00,000
EDLI adm chrgs * 1,00,000
PF adm chrgs * 1,00,000
Ee PF contribution
Er PF contribution
Er Pension contribution
Professional tax Basis,
Professional Tax Split Period
LWF employee Contribution
LWF Employer Cntribution.
How many symbolic accounts which are important, has to be setup for passing these components to FI.
For PF -Through different threads i came to know that these components each will have 2 different GLs as these are liabilities of the company.
So total 10 GLs(or more if i have missed out on any component).
What about the Professional, Tax which components are important
Please share your valuable in puts in this regard.