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The Proof of Investment (POI) module consists of the complete process of declaration of employee's investments to save tax. To ensure minimum tax deduction, all the employees must declare the number of investments they plan at the beginning of every financial year. Employees' taxable income is then computed based on their POI(s) and subsequently, tax is then deducted from employees' salary every month. At the end of the financial year, a payroll/ finance manager enables the declaration window for employees. Employees must then submit the proof of the declared investments.  Planning and submitting the proof of investments for saving tax is solely the responsibility of employees. After submission of POIs, it is the responsibility of a payroll/ finance manager to review and submit the investment. greytHR offers a systematic process of managing the complicated process of submitting POI for admins as well as employees.

You can perform the following tasks using the POI Module:

  • Release, track, review and consider POI easily and have complete control of employees' POI form.
  • Set auto-lock date for POI.
  • Releasing the POI form for the selected or all employees.
  • Uploading and downloading the documents of individual employees in bulk.

  • Send a reminder to employees to submit POI.
  • Review individual proof attachment for each employee and take actions (Approve/Reject/Override).
  • Capture family details as part of the POI declaration.
  • Re-Release individual items for employees to declare.
  • Section-wise declaration.
  • Easy tracking of POI form for admin and employees both.

To view the Proof Of Investment page, navigate to Payroll > Admin > POI Overview.


On Proof of Investment page, you can view the following tabs: 

  1. Yet to be released
  2. Released
  3. Locked and Pending
  4. Locked and Reviewed (optional)
  5. Considered for Payroll

Yet to be released

On Proof of Investment page, under Yet to be released tab, you can view the count and list of employees for whom you are yet to release the POI form. You can release the POI declaration form for the employees either individually or in bulk. 

Releasing the POI for Employees in Bulk

  1. On Proof of Investment page, under Yet to be released tab, select Bulk Select.
  2. Select multiple or all employee(s) to release POI.
  3. Select Release

  4. Click Submit to release POI for selected employees. Release pop-up appears.

  5. Select Due Date from the Auto_Lock drop-down calendar menu.
  6. Click Release to release POI form for employees.

Releasing the POI for Individual Employees

  1. On Proof of Investment page, under Yet to be released tab, select Individual Details.

  2. Select an employee.

  3. On the right side of the screen, under the View Form tab, click 

  4. Click Submit to release POI for selected employees. Release pop-up appears.

  5. Select Due Date from the Auto_Lock drop-down calendar menu. 
  6. Click Release to release POI form for the selected employee.

Released

Once you have released the POI form for the employees from the Yet to be released tab, the employees move under the Released tab. The Released tab displays a count and list of all the employees, to whom you have released the POI declaration form. Under the Release tab, you can perform the following actions: 

Reminding employee(s) to declare POI

This option helps you to send a reminder email to the selected employee(s) for declaring IT. To send a reminder to the employee(s) for declaration, perform the following actions:

  1. On Proof of Investment page, under Released tab, select Bulk Select.
  2. Select the employee(s). 
  3. Select Remind.

  4. Click Submit. Remind pop-up appears.
  5. Specify the remarks for the employee(s) in the text box.
  6. Click Remind for sending a reminder email to the employee(s).

Rejecting POI form and locking the form for Employee(s)

This option allows you to reject and lock the POI declaration form for selected employee(s). To reject POI forms for the selected employee(s), perform the following actions:

  1. On Proof of Investment page, under Released tab, select Bulk Select.
  2. Select employee(s). 
  3. Select Reject POI and Lock to move the employee's POI form to Locked and Pending tab.
  4. Click Submit. Reject POI and Lock pop-up appears.
  5. Read and select all three check boxes. All three check boxes inform you about the effect of rejecting a POI form. Kindly note that this is a mandatory step.
  6. Click Confirm to reject and lock the POI. The form is then moved to Locked and Reviewed tab.

Changing the Auto-Lock Due Date

This option gives you an option to edit the Auto_Lock Due Date for the selected employee(s). To change the Auto-lock Due Date, perform the following actions:

  1. On Proof of Investment page, under Released tab, select Bulk Select.
  2. Select employee(s). 
  3. Select Change Auto lock Due Date.
  4. Click Submit. Change Auto lock Due Date pop-up appears.
  5. Select Due Date from the Auto_Lock drop-down calendar menu. This is a mandatory step.
  6. Click Confirm to change the Auto-lock Due Date.

Deleting the POI

Delete option lets you delete the POI declared by an individual or multiple employees. Kindly note that this option is available based on user request. To delete POI, perform the following actions:

  1. On Proof of Investment page, under Released tab, select Bulk Select.
  2. Select employee(s). 
  3. Select Delete.
  4. Click Submit. Delete pop-up appears.
  5. Read and select the two check boxes. Both the check boxes inform you about the effect of deleting a POI form. Kindly note that this is a mandatory step.
  6. Click Delete to delete the POI and move it to Yet to be released tab.

Viewing POI Form for Individual Employees

You can also view the POI form saved by an employee under the Released tab. There are two tabs available for Individual employees: View Form and Information. 

  1. On Proof of Investment page, under Released tab, select Individual Details.

  2. Select an employee. 
  3. On the right side of the screen, under the View Form tab, you can view a summary of the form. To view the form in detail, click View Form. You will be redirected to the Overview tab of Review POI page. This page displays the items that the employee has saved but not declared. Kindly note that an admin cannot edit the employee's POI form under the Released tab.
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  4. You can also view Additional Details such as Released Date and Auto locked Date under the Information tab.

Locked and Pending

After POI is released for employees, the employees must fill, attach relevant documents and submit their POI form for admin's review. Admin can view these forms under Locked and Pending tab. Under the Locked and Pending tab, you can add attachments, view, accept/ reject, and re-release each item of POI for individual employees. You can also select the employees in bulk and delete their forms. In such cases, deleted forms moves back to the Yet to be released tab. 

Kindly note that delete option for bulk employees is not available by default, it must be activated in the application.


Considering the POI items for Individual Employees

This option helps you to review and consider each item submitted by an employee and take appropriate actions for each item. You can consider, accept, reject or even re-release individual items in an employee's POI form. To review the POI form, perform the following actions:

  1. On Proof of Investment page, under Locked and Pending tab, select Individual Details.
  2. Select employee. 
  3. On the right side of the screen, under the View Form tab, click View Form. You will be redirected to the Overview tab of Review POI page. This page displays the items that the employee has declared. 

  4. Click  to go to a particular POI component. You can then view all the details and attachments of the selected POI component.

  5. Click Approve or Reject. Approve/ Reject pop-up appears.

  6. Specify the remarks in Admin Remarks text box. It is important to add remarks, especially when you are rejecting a declaration. This helps the employee to rectify and resubmit the form.
  7. Click Yes to approve the POI component.

  8. Similarly, review all the components as explained until Step 7.
  9. Once you have reviewed all the components, click Review and Consider. You are redirected to the Overview tab of Review POI page.
  10. Click Consider POI. If you have reviewed all the items, the form is considered for POI and moved to the next tab. 

Re-Releasing POI items

While reviewing an employee's POI form, there can be items which you are not satisfied with and you want to reject them. In such cases, you can re-release those items to the employee. To re-release the POI, perform the following actions:

  1. On Review POI page, click Re-Release.
  2. Select the check box against the items you require the employee to resubmit.
  3. Click Re-Release Selected to release the selected items to the employees for resubmission. 

You can also refer family details of the selected employee on the Review POI page under Re-Release tab. To view family details, click . Family Details pop-up appears. You can refer and also add employee's family members and Save the details.


Uploading attachments in Bulk

The default setting to upload attachment is the item-wise individual document upload. To upload attachments in bulk, contact our support team. Our support team will disable the following option: Enable item wise attachment in POI declaration.

Once Enable item wise attachment in POI declaration option is disabled and you have released a fresh POI for an employee, you can view the bulk upload option under the POI Components in the Review POI page. The bulk upload option is called Proof Attachment.


Locked and Reviewed 

After an employee's POI form is considered, the form is moved to the Locked and Reviewed tab. Under this tab, you can view the form in read-only mode for the individual employees. Also, you can perform the following actions for employees in bulk:

  1. Re-Release 
  2. Push to Payroll
  3. Delete


Kindly note that Locked and Reviewed tab is optional. It is available as per user requirement. From Locked and Pending tab, POIs can be directly Considered for Payroll.


Re-Releasing POI forms in bulk

You can Re-Release POI form for multiple employees at a time. Re-releasing the POI form will move the form back to the Released tab. To re-release the POI, perform the following actions:

  1. On Proof of Investment page, under Locked and Reviewed tab, select Bulk Select.
  2. Select the employee(s).
  3. Select Re-Release.
  4. Click SubmitRe-Release pop-up appears.
  5. Select Due Date from the Auto_Lock drop-down calendar menu. 
  6. Click Re-Release to release the POI form again.

Pushing POI forms to Payroll

After you have reviewed an employee's POI form, you can consider it for payroll. This helps in calculating income tax for the employee. To push a POI form to payroll, perform the following actions:

  1. On Proof of Investment page, under Locked and Reviewed tab, select Bulk Select.
  2. Select employee(s).
  3. Select Re-Release.
  4. Click SubmitPush to Payroll pop-up appears.
  5. Read and select the check box. The check box informs you about the effect of pushing a POI form. Kindly note that this is a mandatory step.
  6. Click Push to Payroll the POI and move it to Considered for Payroll tab.

Deleting the POI forms

After you have reviewed an employee's POI form, you can also delete the form. Deleting a form will move the form back to the Yet to be released tab and all the changes made to the form in the whole POI process will be deleted. To delete a POI form, perform the following actions:

  1. On Proof of Investment page, under Locked and Reviewed tab, select Bulk Select.
  2. Select employee(s).
  3. Select Delete.
  4. Click SubmitDelete pop-up appears.
  5. Read and select both the check boxes. These check boxes inform you about the effect of deleting a POI form. Kindly note that this is a mandatory step.
  6. Click Delete the POI and move it to Yet to be released tab.

Considered for Payroll

After you have considered an employee's POI form for payroll, the form is moved under Considered for Payroll tab. A form can be considered for payroll from Locked and Reviewed tab. If the Locked and Reviewed tab is unavailable then the form can be considered directly from Locked and Pending tab. Under the Considered for Payroll tab, you can view form of individual employees or you can Re-Release the form for employees in bulk.



Related Links:

POI Concept

POI Release

POI Track








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