Component Master
The salary given to an employee consists of several components. For example, basic pay, house rent allowance, vehicle allowance, conveyance, allowance, medical allowance and so on. Some of the components are fixed, while others may be variable. Fixed components are static and defined by the company. Variable components can be planned by the employee according to their requirement, if the organization policy allows the same.
As an administrator you can define all the components defined by your organization. These components are selected while defining different pay structures for employees based on their band. You can view, add, edit or delete the salary components for the organization.
The Component master has four configuration combinations that can be selected while defining the salary components of employees:
Fixed & Earning
Fixed & Deduction
Variable & Earning
Variable & Deduction
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