Write a Fast Formula for Voluntary Retirement Scheme
You can write your own custom logic in the fast formula to calculate the voluntary retirement scheme amount.
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Navigate to: Payroll > Fast Formulas.
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Click Create and enter the formula name: XXCUST_INDIA_VRS_CALCULATION_FF
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Enter the Type: Oracle Payroll
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Enter more details like Description, Legislative Data Group, Effective Start Date, and click Continue.
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Write the formula text in the Formula Text editor that opens.
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Click Submit.
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Compile the formula and verify that there are no errors.
/******************************************************************************
$Header:
*
* Formula Name: XXCUST_INDIA_VRS_CALCULATION_FF
* Description: Custom VRS Calculation Formula for India Localization
*
***********************************************************************************************/
/* The formula should have the below return value.
l_vrs_amount_payable
Return -1, if any value is not overriden.
*/
l_vrs_amount_payable = -1
/* Begin Custom logic */
l_vrs_amount_payable = 15000
/*Custom logic End*/
return /* Use the below return variables*/
l_vrs_amount_payable
Results:
The formula returns the values for VRS Amount Payable.