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Amendment to Taxation of Employer Contributions Not Working in Budget Patch For FI 2020-2021 (Doc ID 2666392.1)

Last updated on MAY 12, 2020

Applies to:

Oracle HRMS (India) - Version 12.1.3 and later
Information in this document applies to any platform.

Symptoms

On : 12.1.3 version, India Payroll

ACTUAL BEHAVIOR
---------------
Aggregate of amounts of the Employer contributions exceeds 750000 not treated as taxable perquisite

EXPECTED BEHAVIOR
-----------------------
Aggregate of amounts of the Employer contributions exceeds 750000 should treat as taxable perquisite

STEPS
-----------------------
The issue can be reproduced at will with the following steps:
1. Run Payroll for employee who has Employer PF Contribution above 7.5lakh per year
2. Check the Employer PF Contribution and Value of Perquisites (Section 17(2)) in SOE

 

Cause

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In this Document
Symptoms
Cause
Solution
References


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