How to create a salary structure for interns where the only component is stipend

A typical salary structure contains many components like basic salary, house rent allowance, special allowances, etc. However, in the case of interns, usually, the only salary component would be a stipend. This document attempts to demonstrate how to create a salary structure for interns. 

Click on the Payroll (1) menu. Go to Settings (2) and click on Pay Groups (3). Choose your pay group (if you have multiple groups) and then click on the configure (4) icon against it under Actions.

On the next window that pops up, go to Salary Structure (1) and choose Custom Salary (2). Now, click on Create Custom Salary Structure (3).

You will now be taken back to the Create Custom Salary Structure window. Here, give a Name (1) to the new salary structure. 

Click on the +Add description (2) button, and type in a brief description of the new salary structure. Although this is optional, it could be useful for future reference.

Now, click on the +Add component (3) button.

On the Add salary component overlay window, search out (1) �Stipend� and check the box (2) against it under the Component name. Now, click Add Component (3). 

Once again back to the Create Custom Salary Structure window, you will find a pop-up showing the successful addition of the new component.

You can now edit the formula of the new component. Click on the Edit button under Formula for value / fixed value.

On the overlay window, choose CTC under Salary Components. When you do that, it will appear as [CTC] in the text box for the formula value.

Now, click Update. 

You will now find a success message popping up back on the Create Custom Salary Structure window. Click Create to save the settings for the new salary structure.

And you are done!

If you would like to, you can check whether the new salary structure is there on the portal. For this, navigate to Salary Structures>> Custom Salary. In the search field, type in the name of the new salary structure you have just created. You will find it listed under the Custom Salary Structure Name.

Hope you found this document helpful. If you have any more queries, please refer to the other articles or contact our product experts.