Important Note:

• Pay Master is ready with upcoming New Contribution Rates of NHIF (New Name SHIF – Social Health Insurance Fund). This document is a guideline on how to switch over to the New Contribution Rates once the Notification on effecting the same is Released.
• Please Consult your Tax Consultant before effecting this change.
• Make Sure Previous Years & Months are closed before making these Changes
• After making these changes No Auto Calculation of previous Months should be done i.e., Oct 2023 & Prior Months.

Steps;

1. Login into Paymaster with Administrative Rights

 

2. Click Setup >> Payroll >> Setup

3. Scroll Down to NHIF Calculation and change NHIF Calculation method from slab wise to Percentage Wise2. Click Setup >> Payroll >> Setup

4. Update NHIF Calculation Percentage to 2.75, then change NHIF calculated on to Gross.

5. Scroll down to the Last Page then Click Save.