Create Rate Definition

Before creating an element using the element template, the rate definition for the absence payment and deduction of LGI or CAGR needs to be created. The same rate can be used for payment and deduction.

To create a new rate definition for LGI or CAGR:

Navigation: My Client Groups > Payroll > Rate definition

1. Click Create.
2. In the Create rate Definition window, select the appropriate Legislative Data Group.
3. Enter the basic details. Category should be Derived Rate.
4. Select Calculate Live rate.
5. In the Return Rate Details section, enter the Periodicity as Calendar Months, the Periodicity Conversion Formula as Standard Rate Annualized, the Currency and the decimal display.
6. In the Rate contributor section, select:
   • Balance Name: Basic salary
   • Reference Date:This Month End Date
   • Dimension:Relationship Period to Date
   • Periodicity: Calendar Month
7. Click Save.

The rate definition for IJSS, based on reconstituted salary, is delivered.