Syntax error error, but couldn't get what it is

Local:Field:empcurrmonsal:Set as:$$PaidFor:$EMPDisplayName:"Salary payable"$$MonthStart:##SVCurrentDate)$$MonthEnd:##SVCurrentDate)

this last function is showing syntax error"Syntax Error: Insufficient number of parameters to the function"
... how to resolve it, but it is taking correct number of arguments, any space constraints??

 

Code:

Local:Field:empcurrmonsal:Set as:$$PaidFor:$EMPDisplayName:"Salary payable":($$MonthStart:##SVCurrentDate):($$MonthEnd:##SVCurrentDate)

this last function($$MonthEnd) is showing syntax error"Syntax Error: Insufficient number of parameters to the function"
... how to resolve it, but it is taking correct number of arguments, any space constraints??

 

Try with Field Local Formula..

 

Can you explain, what is field local formula, if it is anything other than the one used in the mentioned above?