Showing posts with label hr application software. Show all posts
Showing posts with label hr application software. Show all posts
Importance of statutory compliance in HR for an organization

Importance of statutory compliance in HR for an organization

 It is known that the scope of statutory compliance in an organization is limited to deducting taxes from employees' salary and paying it to the government. While it is not the only thing it does, it also ensures that the organization provides adequate benefits to employees as well.


firstly we learn about tax compliance and its importance in business. This needs to be further split into four parts: Withholding, Contributing, Remittance & Reporting.


Withholding: Every employer should follow certain tax rules as mandated by the respective agencies of the government in India, employee salaries are deducted towards Income tax, Provident fund, ESI, Professional Tax, and Labour Welfare Fund.


Contributing: Those above-mentioned deductions are made from the employees for their welfare. Each of these compliances is again governed by a set of rules and formulas.


Remittance:  Once deductions are done from the employees for the month, the employer has to make contributions and arrangements to remit them to the respective departments of the government. There are specific timelines & formats by when they need to be remitted and  Most of the remittances can now be done online through the banking system. 


Reporting: After deductions are made from the employees and remitted to the respective department in government, it is time for filling  ‘Returns’. It is a detailed report submitted by an organization to the respective government departments accompanying the remittances. It contains information on income paid to its employees and the taxes deducted.  Therefore the report should match the remittance made. Again, the respective returns are to be submitted as per specified timelines and formats.

Assessments & Internal Audits:

Authorized inspectors or enforcement officers of government departments are required to audit the remittances and returns for each completed year in order to check for any violations.    

Why WIN HRM Payroll?

Payroll and Statutory compliance in hr is a specialized subject and many prefer it to be managed by professionals due to constant changes in rules and also keeping in mind the adverse impacts of non-compliance. winhrmpayroll software helps you to manage the entire process seamlessly. our hr software support the computation of the right taxes, preparation of accurate reports/challans and link the system to government portals for remittances and filing of returns as well.

ESI Calculation |How to calculate esi calculation on salary in india?

ESI Calculation |How to calculate esi calculation on salary in india?

 What is ESI?

ESI is defined as Employees state insurance (ESI) is a beneficial scheme for employees in India during their health-related problems. Employees' monthly contribution is deducted from employee and employer accounts as ESI Contribution.

As per ESIC rules, ESI deduction is applicable for employees at organizations with the strength of more than 10 persons and it is applicable for full-time employees and not for contract employees.

ESI Contribution is a type of social security for state employees, Deductions and calculations depend on the states of India.

How is esi calculation on salary is done?

Major parameters are 

1. Gross pay

2. DA(Dearness allowance)

3. Employment state

4. City compensatory allowance

ESI contribution is from both employee and employer as employee's contribution is 0.75 % of the gross salary whereas the employer's contribution is 3.25% of the gross salary of the employee.

A sophisticated HRMS solution can make ESI calculation and compliance management easier for the HR department and payroll department.


WIN HRM PAYROLL Software for Small Businesses

WIN HRM PAYROLL Software for Small Businesses


Say hello to the leading HR and Payroll Software, our simple and accurate
solution WIN Hrm Payroll Software enables you to access all HR related
information and view your employee data at ease. Run a seamless business
with WIN Hrm Payroll HCM Software scalable and adaptable solution that was
designed for small businesses.
Online Leave Management: Apply and Approve Leaves Anytime and Anywhere
with WIN Hrm Payroll - Online Leave Management Software. configure location
wise work-week calendars and holiday groups based on your organization’s
workflow.

Benefits of using HR and Payroll solutions:

  • Increasing the accuracy of data maintenance
  • Simplifying onboarding and stepping off process
  • Automate process the salaries and the filing of employee taxes
  • Employee Self Service (ESS) – provides employees access to their salary slips, hike letters, income tax calculations, investment declarations, Leave request and approval etc.
WINHRMPAYROLL-One Stop Solution Provide free trial, a dedicated support

manager,on-demand customization

If you could give me 20 min. from your calendar, Our Subject specialist presents
you a demo in detail.
Or feel free to call @ +91- 9440806867
Visit Us: http://www.winhrmpayroll.com

Advanced HRM Software Solution with WIN HRM PAYROLL

WINHRMPAYROLL  is a complete cloud HRM software for end to end HR Management Processes. With its scalable and robust payroll processing along with automated HR Solution, shun the necessity for thorough going work and spreadsheets. Formula based mostly earnings and deductions feature of Winhrmpayroll HRM software helps you get eliminate payroll connected redundancies permanently.

The human resource management system combines various systems and processes that are used to connect the human resource management and the information technology. The use of Human Resource Software (HRM)in becoming increasingly popular in many organizations due to the many benefits this technology offers.
Features of an ideal HRM Software Solution:
Payroll Management System:
Payroll management system is AN accurate and productive system for integration with the employee database with the payroll Information. this Process helps in managing the payrolls of assorted Employees as per their individual operating hours. this Process allows you to make changes within the figures and scheduling of the payouts. 
Leave Management System:
The leave management system is a crucial a part of HRM Solutions. It permits the HR professionals to profitably manage the leave policy and helps the Employees with the clear leave application system.
Features of WIN HRM Payroll Software:
• Automated payroll management system
• Track over leave entitlements
• Increase workforce productivity
• Detailed review of employee performance
• Detailed view of employee database with electronic storage
• Smarter workforce
• Automated benefits and reimbursement management