Salary processing consists of the steps needed to pay employees each period. It involves tracking hours worked, calculating allowances, deducting money for employee benefits, and remitting payroll taxes. Implementing a solid salary processing method helps employers avoid penalties for breaking various Labor laws (minimum wage, unpaid overtime), calculation errors caused by manual entries etc and payroll software makes it easy.
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.
The help document describes how you can compare salaries for two different Salary Periods. Right after salary processing, it would be a wise idea to compare the processed salary data with data from the previous salary period. The Salary Comparison Dashboard allows you to compare between any two salary [...]
The payroll module in Lenvica HRMS is flexible enough to allow the user to define his own Salary Structures. Different groups of employees may have different salary structures. This help document describes how you can make changes to an existing salary structure. My company has decided to provide Sales [...]
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.
Yearly reports with Details and Summary of Salary for a financial year. Let's first take a look at the Yearly Salary Details for the current Financial year. Step 1: Pick the year Step 2: Pick Employees [...]
Lenvica HRMS allows you to create unlimited number of users, and you can allocate different responsibilities to each user by assigning different access rights. The help document describes how you can create a new user in Lenvica HRMS and assign access rights. I've two new users for Lenvica HRMS. [...]
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.
Government has approved and released notifications reducing the rates of Employee State Insurance Contribution rates. Employer contribution is reduced to 3.25% from 4.75% and the employee contribution is reduced to 0.75% from 1.75%. The revised rates of ESI contributions shall be effective from July 01, 2019. G.S.R. 423 (E).—Whereas a draft containing certain rules [...]
