How can I add Voluntary Provident Fund (VPF) deduction to my employees?
Voluntary Provident Fund (VPF) is a voluntary fund contribution from the employee towards his provident fund account. You can enable VPF for your employees by following these steps:
- Go to Settings > Salary Components.
- Navigate to the Deductions tab.
- Click the More icon next to Voluntary Provident Fund and select Mark as Active.
- Go to the Employees module from the left sidebar.
- Click on the employee for whom you want to enable VPF.
- Click Add > Pre-Tax Deduction.
- Select Voluntary Provident Fund from the drop down.
- Enter the percentage of Basic that you want to deduct every month.
- Select when you want the deduction to expire.
- Click Save.