A Guide to Indian Payroll
Payroll is fundamental to an organisation. In India, several laws and regulations are in place to protect the interest of relevant stakeholders in the payroll parlance. However, it is a cumbersome task to go through each one of them in detail personally. Secondly, not all provisions listed might apply to your organisation.
Our experience of conversations with several users of our payroll software and their willingness to learn led us to compile this information resource.
Our effort is to bring a common platform to accumulate information as a ready referencer, not necessarily covering only aspects of law but to take you through the complete process.
We will look into:
- An overview of the Indian payroll
- Knowledge of components that structure a Salary and CTC
- Applicability of Statutory Social Securities to organisations and employees
- Calculation of PF, ESI, PT contributions
- Relevance of HRA component in the salary and taxation impacts
- Insights on Bonus, Gratuity and Ex-Gratia payments
- Benefits available under various schemes of ESI
- A guide through employee IT declarations and Form 16
- Importance of an Attendance Management System
- Detailed guide on Leave policies, Maternity leaves
- Statutory registers to be maintained by organizations
- Ingredients of an Ideal Salary Structure
- Knowledge of Payslip, Salary sheet, Form T and Muster Roll
- A summary of payroll compliances and relevant Due dates
- Walk-through process of joining requirements, necessary documentation and precautions during full & final settlement
Note: The intention of this book (including any information contained in it) is to provide general information on a particular subject(s). It is not an exhaustive treatment of such subject(s) or a substitute for professional services or advice. This material may contain information sourced from publicly available information or other third-party sources. Do not rely on this book as the sole basis for any decision which may affect you or your business. Refer to bare acts, rules, and notifications of the government in case of any doubts or contradictions.
Contents
|
Sl. No. |
Topic |
|
1 |
Payroll- an Overview |
|
2 |
Salary Structure |
|
3 |
CTC |
|
Statutory aspects- Payroll |
|
|
4 |
Provident Fund (PF) |
|
5 |
E Filing Provident Fund |
|
6 |
Universal Account Number (UAN) |
|
7 |
National Pension Scheme (NPS) |
|
8 |
Employee State Insurance (ESI) |
|
9 |
ESI- Electronic Return Format |
|
10 |
Labour Welfare Fund (LWF) |
|
11 |
Bonus and Ex gratia |
|
12 |
Gratuity |
|
13 |
Professional tax |
|
Income Tax aspects- Payroll |
|
|
14 |
House Rent Allowance (HRA) |
|
15 |
Taxation of Provident Fund (PF) |
|
16 |
Income Tax and Salary TDS |
|
17 |
Income Tax Declarations |
|
18 |
Form 16 |
|
19 |
Due Dates relating to Payroll in India |
|
Leave and Attendance aspects- Payroll |
|
|
20 |
Holidays |
|
21 |
Leaves |
|
22 |
Attendance Management System |
|
Other Items in Payroll |
|
|
23 |
Overtime |
|
24 |
Re-imbursements |
|
25 |
Salary Disbursement |
|
26 |
Ideal salary structure |
|
Payroll Reports |
|
|
27 |
Payslip |
|
28 |
Salary Sheet |
|
29 |
Minimum Wages |
|
30 |
Form T |
|
31 |
Muster Roll |
|
32 |
Summary of Payroll compliances |
|
33 |
Statutory Registers |
|
Other Procedural aspects |
|
|
34 |
Joining requirements |
|
35 |
Payroll - Letters to Staff |
|
36 |
Standing instructions- Payroll |
|
37 |
Full and Final settlement |
