PAYE stands for Pay-As-You-Earn. It is the method of collecting Income Tax from employees on their earnings. Under this system, an employer is required by law to deduct income tax from an employee's taxable salary or wages. It could be weekly, fortnightly or monthly hence the name Pay As You Earn.
A complete payroll software for Tanzania that solves all your payroll related issues. It can streamline all payroll-related operations such as payroll, commissions, bonuses, PAYE, NSSF, NHIF and incentives, and tracks them to support all regulatory compliance with a country. It also helps to generate multiple payrolls.
PAYE Tanzania stands for Pay-As-You-Earn. It is a withholding tax on taxable incomes of employees. Under this system, an employer is required by law to deduct income tax from an employee's taxable salary or wages.
Pay As You Earn (PAYE) is a tax deducted from employees’ income and is paid by an employer on behalf of the employee. The tax is charged on all income of an individual in employment, whether it is received in benefit or in kind. A monthly PAYE return must be filed by the employer on behalf of employees on or before the fifteenth day of the month following the month in which the deduction was made.
Salary Card let's you assign an employee to a Salary Group, and define the individual values for the employee. Salary Card let's you assign an employee to a Salary Group, and define the individual values for the employee. You should have the Salary Groups ready before [...]
Before software was invented, payslips were prepared and calculated manually. And then with the invention of software spreadsheets eased the task of preparing payslips and related documents. Nowadays, majority of companies use payroll software regardless of their size. An efficient Payroll Software is necessary to make timely preparation of payslips, salary registers, statutory reports and related documents with at most accuracy.
Bonus is usually paid to employees yearly or half-yearly. Lenvica HRMS makes it extremely easy to calculate Bonus for all your employees in a few clicks. This help document describes how you can calculate bonus for your employees. My company pays out Bonus at the end of the year [...]
You should close a Salary Period before you can open a new one. Only one Salary period can be open at a time. Closing the Salary periods ensures that the data in the period is kept intact from accidental changes. When salary is processed for all employees, and payslips are [...]
The new Budget for the financial year 2020-21 introduced a new income tax regime for individual taxpayers. However, the new tax regime requires the individual taxpayer to renounce certain specified deductions. From April 1, 2020, an individual taxpayer will either continue with the existing tax regime or opt for the new one without 70 tax exemptions and deductions.
What is Public Service Social Security Fund (PSSSF)? The Public service social security fund institutes the Public Service Social Security Scheme that provides for contributions to and payment of social security benefits in respect of the service of employees in the public service. The Public Service Social Security Fund is a social security [...]
