Enhancement in Talent Acquisition Module 05-January-2021
- Read: 10 times
Monday, January 05, 2021 | 1 New Feature Added
1. CTC Calculator Enhancements
-
A provision has been made to capture input heads such as Performance Linked Incentive or Variable Pay along with the CTC value
-
Formulae can now be defined to compute a head’s value as CTC less the input value heads. For e.g., Basic = 30% of (CTC - Variable pay)
-
Formulae can now include functions like Max or if conditions
-
Where companies have multiple PF payheads and they apply based on salary or a particular head value like Basic, the same can now be configured so that the system will apply the relevant PF head automatically.
-
In the offer letter, the system will now have capability to include compensation heads whose value may be different from the actual value, for the purpose of generating better formatted offer letters. For eg - if CTC is 10,00,000 and basic is 35% of CTC, the actual system monthly and annual values of Basic will be 29,167 and 3,50,004 respectively. But for the purpose of offer letter, a tag will be available to include the basic value of Rs. 3,50,000
-
The interface of the CTC calculator has been changed so that the system now does not recalculate on its own with every change. Instead the user can make all desired changes and then press the Calculate button for the recalculation to happen in one go making for a better user experience.
---------------------------------------------------------------------------------------------------------------------------------------------------------------