💸 Deductions Management Module

Comprehensive management and tracking of employee salary deductions

This section contains two dedicated tabs—TDS and Advance—used to manage and track deductions made from employees’ monthly compensation. These deductions directly impact the Net Pay shown in the monthly salary reports.

📋 Tabs Overview:

1. 💰 TDS (Tax Deducted at Source)

• Allows authorized users to add TDS entries for individual employees
• The specified TDS amount is automatically deducted from the employee’s gross salary each month
• This ensures accurate tax reporting and compliance with statutory regulations

2. 💳 Advance

• Enables entry of advance payments made to employees
• Two options are available under this tab:
  • Advance – General monetary advances given to the employee
  • LIC – Deductions made towards LIC (Life Insurance Corporation) payments on behalf of the employee
• These amounts are reflected in the Monthly Salary Report under respective deduction columns

⚙️ Functionality:

• Both TDS and Advance deductions contribute to calculating the employee’s Net Pay each month
• Only users with appropriate access rights can add or modify these deductions
• Ensures centralized and consistent management of financial deductions across payroll cycles

🔗 Integration with Salary Report:

• All entries made in the TDS and Advance tabs are seamlessly integrated into the Salary Sheet, ensuring:
  • Accurate deduction records
  • Transparent net pay calculations
  • Reliable payroll processing