1. Let Employees Choose Their Tax Deduction Method for One-Time Payments

2. Calculate variable earnings based on percentage of CTC

3. Carry forward unclaimed reimbursements and encash them quarterly

1. Let Employees Choose Their Tax Deduction Method for One-Time Payments 

This feature is currently in early access. Contact support@zohopayroll.com and we'll enable this feature for you.

Your employees can choose from the options you provide from the employee portal. You can give them three choices:

Option	How it works?
One-Time Deduction	The full tax amount is deducted at once. The remaining amount is credited to the employee.
Monthly Deduction	The full bonus amount is credited upfront. The tax is deducted in future months.
Ad-Hoc Deduction	An amount specified by the employees is deducted during the time of disbursement. The remaining tax is deducted in future months.

Here’s how you can implement this for the employees in your organisation:

• Go to Pay Runs on the left sidebar.
• Click Create Pay Run in the top right corner and select One Time Payout.
• Select the one time component and when you would like to pay the employees.
• Select the Allow employees to select their tax preference checkbox.
• Select if you want to allow ad-hoc based tax deductions.
• Set a deadline for employees to submit their tax preference.
• Click Save and Continue.
• Add employees to the one time payment and click Continue to Payroll.
• In the one-time payroll screen, click Allow tax preference in the top right corner.
  

Note: For employees who do not have access to the employee portal, you can select their preferred tax deduction method by selecting the employee.

Your employees can now log in to their portal and choose their preferred tax deduction method.

 You can also opt to lock the ability for employees to submit their tax preference before the deadline date, if required. To do this:

• In the one-time payroll screen, click Lock Tax Preference in the top right corner.

Your employees will no longer be able to submit their preferred tax deduction method. Once the deadline has passed, the ability for employees to submit their tax preference will be locked automatically. However, you can choose to extend the deadline for employees to submit their tax preference. Here's how:

• In the one-time payroll screen, click Extend Tax Preference in the top right corner.

 If you want to have a backup, you can also export to download the tax preference.

2. Calculate variable earnings based on percentage of CTC

This feature is currently in early access. Contact  support@zohopayroll.com and we'll enable this feature for you.

• Navigate to Settings > Salary Components.
• Click Add Component in the top right corner and select Earning.
  
• Select Bonus as the earning type.
• Select the Make this earning a part of employee's salary structure option under Other Configurations.
• Select Percentage of annual CTC as the calculation type.
• Add other details about the bonus.
• Click Save.

• You enter the bonus percentage as 5% of annual CTC for employee A and 10% of annual CTC for employee B.

3. Carry forward unclaimed reimbursements and encash them quarterly  

This feature is currently in early access. Contact  support@zohopayroll.com and we'll enable this feature for you.

• Go to Settings and select Salary Components.
• Switch to the Reimbursements tab and select Telephone Reimbursement.
• Enter the other details and select Carry forward and encash quarterly for the How do you want to handle unclaimed reimbursements? field.
• Click Save.