greytHR is now ready with the budget changes for the current financial year 2020-21. These changes will be reflected in the system from the April payroll 2020. The changes will be enabled by default.
Changing the Default Regime Settings
Navigate to Payroll > Payroll Inputs > Salary. You will see the following information box with the Revert button.
Please note that you can also change the default regime settings from Payroll > Process > Payroll Process.
- Old tax regime is selected by default for employees who have not declared IT. To change the default regime settings, click
Select a Default income tax regime from the Select drop-down menu. Default regime will be assigned for the employees who have not declared IT.
- Click Update to change the default tax regime settings.
Disabling the Budget 2020-2021 changes
At any point of time, greytHR allows you to revert to the last financial year budget. Perform the following actions to revert back to the older budget:
Navigate to either Payroll > Payroll Inputs > Salary. You will see the following information box with the Revert button.
Please note that you can also revert back to the older budget from Payroll > Process > Payroll Process.
- To revert back the greytHR application to the older budget for the purpose of payroll processing, click Revert button. The following confirmation popup appears:
- Click Confirm to revert back to the old budget changes.
Enabling the Budget 2020-2021 changes
As an admin, you can re-enable the current financial year budget changes, perform the following actions:
Navigate to Payroll > Payroll Inputs > Salary. You can view the following information box with the Enable button.
Please note that you can also enable these changes from Payroll > Process > Payroll Process.
- To switch the greytHR application to the budget 2020 changes, click Enable. The following popup appears:
- Select a default income tax regime from the Select Regime drop-down menu. Kindly note it is a mandatory field and you cannot process to next step unless you select a default regime.
- Click Update. A success toast message appears.