Electronic payslips, sometimes referred to as ‘epayslips’ are payslips available online to employees through secure web portals. The online webportal is called Employee self service. ePayslips in ESS is a self-service payslip facility that enables employees to access their payslips directly from a secure website using their desktops, laptops, iPad or smart phones.
A salary slip is an official document issued by an employer to an employee. It contains a detailed description of the employee’s salary components. Earnings like Basic Pay, Transport Allowance, HRA, Leave Travel Allowance, Bonus, Overtime Pay etc and deductions like Income Tax, Loss of Pay, Provident Fund, Insurance etc of a specified time period for which your salary period is defined, usually a month. It may be issued on paper or mailed to the employee or maybe even published online or locally through Employee Self Service. Employers are legally bound to issue salary slips to their employees periodically, as proof of salary payments to employees and deductions made.
Conveyance allowance, also called Transport Allowance is an allowance offered to employees of a company through their salary to compensate expenses for their commute from residence to respective workplace location and vice versa. Allowances are generally offered to employees on top of their basic salary component and may or may not be taxable as per the Income Tax Act.
House Rent Allowance, or commonly known as HRA, is an amount which is paid by employers to employees as a part of their salaries. This is basically done as it helps provide employees with tax benefits towards the payment for accommodations every year. The decision of how much HRA needs to be paid to the employee is made by the employer on the basis of a number of different criteria such as the salary and the city of residence. Regulated by the provisions of Section 10(13A) of the IT Act, the house rent allowance serves to be quite beneficial to salaried employees in India.
The Employee Self Service Module can drastically change your work environment. Earlier, you had to wait for hours or days for an approval, but the approvals are almost instant now! No more filling papers, everything is fully electronic. You were clue less on how your payroll was processed; now, you know every single detail about your payslip. You will notice that the accuracy of your payslip has improved tremendously. You were not probably paid on time due to processing issues; now, you get paid on time, always!
>Labour welfare fund is a statutory contribution managed by individual state authorities. The state labour welfare board determines the amount and frequency of the contribution. The contribution and periodicity of remittance differs with every state. In some states the periodicity is annual (Andhra Pradesh, Haryana, Karnataka, Tamil Nadu etc) and in some states it is to be contributed during the month of June & December (Gujarat, Madhya Pradesh, Maharashtra etc). Labour welfare is an aid in the form of money or necessities for those in need. It provides facilities to labourers in order to improve their working conditions, provide social security, and raise their standard of living.
Employers in the public sector pay salaries to their employees which is divided into various components. One of these components is the Dearness Allowance. Introduced in the World War II, Dearness Allowance or DA was initially known as ‘Dear Food Allowance’. In the initial years, Dearness Allowance was provided to employees by the government as a demand for wage revision was raised. However, later it was linked to the Consumer Price Index. There have been attempts to revise and restructure the percentage of Dearness Allowance by a number of committees in the Central Government.
AttendHRM Management information systems combine hardware, software and network products in an integrated solution that provides managers with data in a format suitable for analysis, monitoring, decision-making and reporting. The system collects data, stores it in a database and makes it available to users over a secure network. Management information systems can help you make critical and timely decisions by providing accurate and up-to-date information and performing analytic functions.
Oman, alike the other Gulf Cooperation Council (GCC) member countries is known for tax free income for employees; therefore attracting expatriates to invest their work life here. Hence while generating the payslips through AttendHRM, there is no deduction under income tax as such in Oman for both Nationals and Expatriates. However, the social security contribution is one applicable deduction in the payroll of Omani nationals alone. The Public Authority for Social Insurance (PASI) administers the social security law in Oman.
Payslip is basically a report giving details of the money earned periodically by an employee under wages or salary and the deductions applicable such as Loss of pay, Taxes, Pension contributions etc are also mentioned in the payslip. Payslips are distributed among employees to pass information regarding the net pay they earn as salary and also as a proof of record for the transfer.