Topic 49: Cumulation classes & Evaluation class

[awin]

If possible can u please add topics 39,40 to back up classes1...

Thanks
santosh

Originally Posted by welcomewiki

Hi

Sure.

At present Topic 41, 42, 43 are in the same forum.

Thanks

[welcomewiki]

Hi

For back up classes send a email to info@wikinewforum.com

For email verification.

Thanks

Originally Posted by awin

If possible can u please add topics 39,40 to back up classes1...

Thanks
santosh

[Yogesh]

Originally Posted by freesaphr

Please show U.S.A example too.
Thanks.

[Yogesh]

Originally Posted by freesaphr

EXAMPLE

Total Gross

If there is an X in this column, flag the wage type to cumulate into cumulation class 01 in table V_512W_D. This indicates that the wage type is to be cumulated into Total Gross.

EPF/EPN Basis

If there is an X in this column, flag the wage type to cumulate into cumulation class 11 in table V_512W_D. This indicates that the wage type is to be cumulated for inclusion in EPF (Employee Provident Fund) calculations.

ESI Basis

If there is an X in this column, flag the wage type to cumulate into cumulation class 12 in table V_512W_D. This indicates that the wage type is to be cumulated for inclusion in the ESI (Employee State Insurance) calculations.

ESI Basis Nominal

If there is an X in this column, flag the wage type to cumulate into cumulation class 13 in table V_512W_D. This indicates that the wage type is to be cumulated as inclusion in the ESI (Employee State Insurance) calculations.

HRA Basis

If there is an X in this column, flag the wage type to cumulate into cumulation class 14 in table V_512W_D. This indicates that the wage type is to be cumulated for 13th month basic pay.

COA/CLS Basis

If there is an X in this column, flag the wage type to cumulate into cumulation class 15 in table V_512W_D. This indicates that the wage type is to be cumulated for 13th month total pay.

Gratuity Basis

If there is an X in this column, flag the wage type to cumulate into cumulation class 16 in table V_512W_D. This indicates that the wage type is to be cumulated for inclusion in taxable gross for further tax calculations.

Superannuation Basis

If there is an X in this column, flag the wage type to cumulate into cumulation class 17 in table V_512W_D. This indicates that the wage type is a regular payment and to be cumulated for inclusion in taxable gross for further tax calculations.

Professional Tax Basis

If there is an X in this column, flag the wage type to cumulate into cumulation class 18 in table V_512W_D. This indicates that the wage type to be included in the calculation of the employee’s Pag-IBIG/ HDMF contribution.

Professional Tax Basis Nominal

If there is an X in this column, flag the wage type to cumulate into cumulation class 19 in table V_512W_D. This indicates that the wage type is to be included in the calculation of the employee’s social security contribution.

Monthly Regular

If there is an X in this column, flag the wage type to cumulate into cumulation class 24 in table V_512W_D. This indicates that the wage type is to be cumulated into Total Gross.

Monthly Irregular

If there is an X in this column, flag the wage type to cumulate into cumulation class 25 in table V_512W_D. This indicates that the wage type is to be cumulated for inclusion in 13th months and Bonus payroll runs. This cumulation is used to limit the tax free component – any taxable component will be automatically stored in /302. Limit is stored in V_T511K – PH13B

Annual Perk

If there is an X in this column, flag the wage type to cumulate into cumulation class 27 in table V_512W_D. This indicates that the wage type is to be cumulated into Total Gorss, excluding Allowances.

Leave Encashment Basis

If there is an X in this column, flag the wage type to cumulate into cumulation class 28 in table V_512W_D. This indicates that the wage type is to be cumulated as non taxable compensation.

Voluntary Retirement Basis

If there is an X in this column, flag the wage type to cumulate into cumulation class 29 in table V_512W_D. This indicates that the wage type is to be cumulated for 13th month basic pay.

Exemption U/S 10

If there is an X in this column, flag the wage type to cumulate into cumulation class 30 in table V_512W_D. This indicates that the wage type is to be cumulated for 13th month total pay.

Annual Non Perk Amount

If there is an X in this column, flag the wage type to cumulate into cumulation class 34 in table V_512W_D. This indicates that the wage type is to be cumulated for inclusion in taxable gross for further tax calculations.

1DSD Basis Actual

If there is an X in this column, flag the wage type to cumulate into cumulation class 37 in table V_512W_D. This indicates that the wage type is a regular payment and to be cumulated for inclusion in taxable gross for further tax calculations.

Form 217 2(A) Basis

If there is an X in this column, flag the wage type to cumulate into cumulation class 38 in table V_512W_D. This indicates that the wage type to be included in the calculation of the employee’s Pag-IBIG/ HDMF contribution.

VPF Basis

If there is an X in this column, flag the wage type to cumulate into cumulation class 39 in table V_512W_D. This indicates that the wage type to be included in the calculation of the employee’s Pag-IBIG/ HDMF contribution.

You have shown the screen shot of USA and Example seems to be from India. Why this confusion? Please stick to USA as promised. What cumulation classes will be there with respect to USA as per the screen shot shown above like 401K Wages, NQP Eligible Earns etc... What NQP stands for? Thanks.

[welcomewiki]

Hi

Basically our intension is to tell what is what.

Hope you got it.

Thanks

Originally Posted by Yogesh

You have shown the screen shot of USA and Example seems to be from India. Why this confusion? Please stick to USA as promised. What cumulation classes will be there with respect to USA as per the screen shot shown above like 401K Wages, NQP Eligible Earns etc... What NQP stands for? Thanks.