Typically this module is used to track time spent on projects or specific activities. Non-adherence with the statutory law can lead to hefty fines and penalties. That is why you need to be up to date on all tax and payroll statutory changes. To make sure that your...
Importantly, received gratuity is non-taxable up to a defined limit by the Income Tax Act, ensuring a reward for long-term service with financial security. It's essential to stay updated with the latest amendments and notifications by the government regarding payroll...
This helps in meeting legal obligations and ensuring fair compensation for employees. To manage payroll effectively, businesses often use payroll software that can automate calculations, deductions and generate reports to ensure compliance with Indian laws. Managing...
Employers must ensure that employees are paid at least the minimum wage for all hours worked. In cases where federal and state minimum wages differ, the higher rate must be applied. Regular reviews and updates are necessary to stay informed about any changes in...
The traditional pattern of working towards data assembling is done by paper-based sheets or excel sheets. The most important yet untouched element in payroll processing is the morale of an employee. Another key difference between EPS and EPF is that EPS benefits are...