Updating an employee's additional provident fund or voluntary provident fund (VPF) contribution refers to the process of modifying or changing the amount of money an employee voluntarily contributes to their provident fund account beyond the mandatory contributions.
To update an employee's voluntary provident fund (VPF) contribution, the admin must perform the following actions:
- From the greytHR Admin portal, navigate to Payroll > Payroll Inputs > Salary. The Salary page opens.
- In the Search by Emp No/Name search box, enter the employee number/name for whom you want to update the provident fund contribution. The Component Group table with salary components appears.
- In the Component Group table, click +Total Deductions > VPF.
- Click the Edit icon available next to VPF. The Edit: VPF pop-up appears.
- Click +Add Row to add a new row in the pop-up.
- In the table, under the From Date column, double click to add the date from which the updated amount is applicable.
- Under the Amount column, double click to add the updated amount.
- Click Save to update the employee's additional provident fund contribution. A success message appears.
- Click the X icon to close the pop-up. The updated amount in VPF is carried forward to the next month.
❓FAQs - To read more FAQs about Voluntary Provident Fund, click here.
📃Documentation - To read more about updating an employee's salary, click here.
▶Video - To watch the video on Salary, click here.
📢Product Update - To read about the product update, click here.