Provident Fund (PF)
Learn how to configure Provident Fund (PF) Deduction and generate PF Returns in Runtime HRMS
Configuring PF in Runtime HRMS
Go to Setup > Statutory > PF.
As shown in image above, click ‘Enable PF Deduction’ checkbox to allow PF deduction from employee salary. The rates of deduction can be modified as per changes in law. When changing the rates of deduction, make sure you select correct ‘Effective Date’ from when the change is applicable.
Go to second tab ‘Salary Components’. Select all those components where PF is deductible. Usually PF is on Basic Salary only.
On the same page, click on ‘Locations Applicability’ tab to select locations where PF is applicable.
In case you wish to disable PF deduction for one or more employee as an exception, you can do so in employee profile. Open the employee record, go to Options tab.
Select ‘Do not deduct PF’ and save to save the changes.
Generating PF Return
PF Returns can be generated from Reports > Statutory Reports > PF Report
Select a period and click on ‘View Summary’ to display PF contribution summary on screen. Click ‘Export to Excel’ to export the report in excel. Click ‘Export PF Return’ to export the PF return for uploading on PF Portal.
PF Return is a text format file supported by PF portal. To generate report for only one location, select location in the location dropdown.
Last updated
