Blog

How to transfer EPF money online?

2021-Jan-07 17:52:25 |

The EPFO or Employees' Provident Fund Organisation has introduced a web system to facilitate transfer claims and withdrawals by its members. Using this technique, an employee will transfer his or her provident fund (EPF) balance with the previous employer to a new employer or will make partial/complete withdrawal of his PF balance with ease. In on-line transfer of PF

ESIC Online payment

2021-Jan-07 16:52:35 |

The page further displays a list of payment gateways such as debit cards or net banking. Choose the gateway through which you wish to make the Employees State Insurance Corporation (ESIC) online payment.

RATE OF INTEREST IN EPF

2021-Jan-06 17:36:28 |

The money accumulated within the government EPF trust offers compounded interest. At present, the charge per unit is 8.65%. EPF is under the horizon of a Central Board of Trustees and therefore the government, who decide the charge per unit.

ESIC â€“ A Complete Social Security Organization for Indiaâ€™s Workforce

2021-Jan-05 17:23:07 |

The International Labour Organization defines Social Security - as "the security that society furnishes through applicable organization against certain risks to that its members are perennially exposed. These risks are basically contingencies against that a personal of small suggests that cannot effectively give by his own ability or foresight alone or even in private combination along with his fellows.

PF Scheme â€“ Itâ€™s Features & Benefits

2021-Jan-04 18:30:26 |

As a worker who is working in a company set-up there are many things that one would really like to understand about the employee Provident Fund (EPF). This blog makes an attempt to discuss the benefits and edges of worker Provident fund Scheme as a set Savings instrument in terms of relevance, Contributions, Return, Risks and highlights the recent relief measures that the govt. has proclaimed considering the present Covid-19 pandemic.

Tax Planning for Salaried Employees for FY 2020-21

2021-Jan-03 17:16:59 |

â€¢ The purpose of tax planning is to ensure tax efficiency. â€¢ Tax planning is an essential part of an individual investorâ€™s financial plan. â€¢ Reduction of tax liability and maximizing the ability to contribute to retirement plans are crucial for success â€¢ Maximization of take home salary

What is Pay-slip?

2021-Jan-01 16:48:06 |

A salary slip or pay slip is a document containing a detailed list concerning the assorted elements of your earnings in conjunction with specific details of employment. it's issued each month by an employer either within the form of a written hard copy or an electronic copy.

ESIC Registration

2021-Jan-01 15:44:51 |

Under this scheme, the employer needs to contribute an amount of 4.00% of the total monthly salary payable to the employee or worker whereas the employer needs to contribute only 1.00% of his monthly salary per month of the year. The only exemption to the employee or worker in paying his contribution is whose salary is less than Rs. 100/- per day.

What Is The Contribution For ESI?

2020-Dec-31 17:31:54 |

Working professionals registered under the Employees' State Insurance (ESI) Act, 1948 are offered full medical care at the time of incapacity to work.

Salary Calculator

2020-Dec-31 16:01:52 |

Salary is the regular payment created by an employer to his or her workers in exchange for the work performed by them. Itâ€™s paid at fixed intervals, typically on a monthly basis, and sometimes expressed as an annual sum.

ESI Contribution Period

2020-Dec-30 18:08:03 |

If the insured person is in Employeesâ€™ State Insurance (ESI) coverage for at least two years from the date of Online Registration, contributed for not less than 156 days & IP is eligible for Sickness Benefit in any one of the contribution period & is suffering from any of the 34 specified long term diseases, the medical avail is admissible till the incapacity lasts & family.

ESI CARD

2020-Dec-29 17:51:16 |

The Employeesâ€™ State Insurance (abbreviated as ESI) Scheme is a social security health insurance scheme that entitles beneficiaries & their dependents to avail of medical treatment benefits, maternity benefits, & unemployment cash benefits.

ESI Calculations

2020-Dec-29 17:43:50 |

Employees State Insurance (ESI) scheme applies to all types of establishments, including corporate, factories, restaurants & cinema theatres, & offices, medical & other institutions. Such units are called Covered Units (CU).

ESI DETAILS

2020-Dec-29 17:00:40 |

The Employees State Insurance (ESI) Act has currently been adopted by more than 7.83 lakh factories & establishments & has a reach of over 2.13 crore insured individuals & families. It holds a record of over 8.28 crore beneficiaries.

HRA CALCULATION

2020-Dec-13 16:38:19 |

House Rent Allowance is a element of the remuneration paid to staff by their employers for meeting the price of renting a home. It offers tax benefits to the staff for the add they pay towards their accommodation annually. Salaried people living in rented homes will claim this exemption and reduce their tax liability.

What is HRA (House Rent Allowance)? | How is HRA Calculated?

2020-Dec-12 16:14:49 |

House Rent Allowance or mostly called HRA, is an amount that is paid by employers to employees as a part of their salaries. This is primarily done because it helps give staff with tax benefits towards the payment for accommodations each year. The choice of how much HRA must be paid to the worker is created by the employer on the basis of variety of different criteria like the salary and the city of residence.

Is Gratuity Taxable?

2020-Dec-11 17:03:01 |

If the employeeâ€™s employer is covered under the Gratuity Act, then the amount that is exempt from tax is: fifteen days salary as per the employeeâ€™s last drawn salary.

Gratuity Rules

2020-Dec-10 14:54:48 |

The Payment of Gratuity Act, 1972, states that an worker is eligible to induce gratuity solely when he or she has worked with a company for a minimum of 5 years. The worker stands to receive the gratuity amount on his or her superannuation, or at the time of retirement or resignation.

What is Dearness Allowance (DA)?

2020-Dec-09 16:38:37 |

In layman terms, dearness allowance is outlined because the price of living adjustment allowance that the govt. offers to public sector staff, similarly as pensioners of a similar. Dearness Allowance is an element of the remuneration that is applicable to staff in India similarly as BanglaDesh.

Conveyance Allowance | How to Calculate Conveyance Allowance? | Conveyance Allowance Exemption

2020-Dec-08 16:26:55 |

There is no restriction on what proportion conveyance allowance an employer can give its employees. However, there's a limit on the number of tax exemption under the income tax Act.

Gross Salary CALCULATION

2020-Dec-06 18:10:15 |

The amount received when deducting gratuity and also the employee provident fund (EPF) from cost to Company (CTC) is termed as Gross salary. In different words, Gross salary is that the quantity paid before deduction of taxes or deductions and is inclusive of bonuses, over-time pay, holiday pay etc.

What is Gross Salary?

2020-Dec-04 16:17:58 |

A gross salary is a gratuity and EPF (employee provident fund) subtracted from the payment to the company. The Cost to Company (CTC) is the amount decided by the company while recruiting an employee. It involves different components like the House Rent Allowance (HRA), Gratuity, Provident Fund (PF), and Medical Insurance among different allowances that are added to the basic regular payment. In different words, ctc could be a term for the overall regular payment package of an worker. It indicates the accumulative quantity of expenses an employer spends on associate worker throughout one year.

Professional Tax Slabs & Rates FY 2020-21

2020-Dec-04 17:16:03 |

Professional tax (PT) is levied by the varied State Governments of india on salaried people, working in government or non-government entities, or in practice of any profession, including chartered Accountants, Doctors, Lawyers etc or perform some kind of business. this manner of tax is in practice for a long time and States were presented the ability of leveling the Tax under Clause (2) of Article 276.

What is P Tax?

2020-Nov-25 12:05:58 |

Professional tax is outlined as a tax that's levied by a government on all people who earn a living through any medium. This must not be confused with the definition of different professionals like doctors or lawyers.

TDS Exemption

2020-Nov-22 16:10:06 |

In case your TDS is subtracted under section 192, 193, 194, 194A, 194C, 194D, 194G, 194H, 194I, 194J, 194LA and 195 and you're feeling you're not eligible to pay TDS, then so as to say, a tax deducted at source exemption, one has got to follow the subsequent procedure.

Filing TDS Return

2020-Nov-21 17:09:36 |

TDS stands for tax deduction at source whereas the TCS stands for tax collected at supply. As per the Income-tax Act, if any person makes a payment to the receiver, then TDS is required to be deducted at a prescribed rate and then deposited with the government.

How is TDS deducted?

2020-Nov-20 13:32:07 |

In case an individual has paid a surplus amount as compared to the liable tax amount, the recipient will file a claim for a refund of the surplus amount. Also, TDS deductions are calculated on the basis of many factors for people from different types of income categories.

What is TDS?

2020-Nov-19 13:41:56 |

TDS is a technique of collecting income tax in India as per the provisions of the income tax Act of 1961. The Central Board for Direct Taxes (CBDT) is chargeable for managing it.

Salary Structure

2020-Nov-18 16:42:13 |

Salaries are paid by organizations to their workers in exchange for the services rendered by them. The earnings paid to workers include of variety of different elements, like basic salary, allowance, perquisites, etc.

EPAYROLL SYSTEM

2020-Dec-07 16:51:10 |

The shift from a manual payroll system to automated one can save a lot of time. It not only does quicker and correct payroll process however also keeps the employees, management and regulatory bodies happy.

PAYROLL SERVICES

2020-Nov-13 13:09:20 |

Outsourcing payroll services means that you would like an external agency to take care of your payroll operate. Several organizations that do not have a dedicated person for payroll choose this feature. Based on their pay cycle, monthly they supply employee pay data and different information like attendance, leaves, compensation details, etc. to the payroll service provider.

Statutory compliance in Indian payroll

2020-Nov-12 17:43:54 |

When you run payroll, being statutory compliant implies that you're paying as per the applicable employment norms set by the central and state legislation.

Payroll process

2020-Nov-20 16:34:56 |

The net quantity to be paid is affected by multiple factors. The company's numerous policies like pay policy leave and benefits policy, attendance policy, etc. come into play at that point. As a primary step, such policies have to be compelled to be outlined and get approved by the management to verify the traditional payroll method.

WHAT IS PAYROLL?

2020-Nov-20 15:55:35 |

Payroll mistakes will happen quicker than you think. For a moment, suppose the staff for whom monthly wage is that the only source of income. Imagine what if the wage isn't paid accurately or there's a delay in releasing wage.

Temporary-employment job offer letter

2020-Nov-20 15:44:38 |

My signature below indicates my acceptance of this offer and its terms, and my authorization to receive my pay as printed above. I understand that continuing satisfactory performance may be a necessary condition of continuing employment.

Unconditional job offer letter

2020-Nov-07 13:56:59 |

Kindly indicate your understanding and acceptance of our offer by signing below and returning a duplicate within the confined envelope no later than [date]. This employment offer expires as of [date]. If you have any queries, be at liberty to contact [name] at [number].

Conditional Job Offer Letter

2020-Nov-06 16:46:06 |

This is a full-time [exempt position that is not eligible for overtime/non-exempt position eligible for overtime pay after 40 hours in a workweek (include any relevant state daily OT requirements here)]. We are offering you a starting basic salary of (INR)______ [per month] paid [monthly, etc.].

How to produce an offer Letter without contractual Implications

2020-Dec-03 16:21:21 |

When the recruiting part has been completed and an employer has created a decision on the candidate it needs to hire for a specific position, the employer usually makes a verbal supply and follows up with an employment offer letter.

Interviewing Candidates for Employment

2020-Dec-03 14:19:39 |

The manner during which human resource professionals and hiring managers interview candidates will be important in identifying the highest candidates for employment. A successful and effective interview is one during which each the interviewer and also the interviewee receive correct data and may create informed selections regarding the applicant's suitableness for the job.

Hiring Policy and Procedures

2020-Dec-03 14:04:40 |

All candidates for a posted vacancy are going to be considered based on their qualifications and skill to perform the task with success. Internal candidates who don't seem to be selected are going to be notified by the HR department.

IMPROVEMENTS EFFECTED IN THE ESI SCHEME

2020-Oct-13 16:55:33 |

The daily rate of sick benefit has been increased from 60 minutes to seventieth of the typical daily wage. The daily rate of permanent disablement profit and dependants profit was increased from seventy fifth of wages to ninetieth of wages.

REVENUE INCOME OF ESI

2020-Oct-10 18:11:24 |

The revenue target for the year 2011-12 has been fastened as Rs.5700.00 Crores. in the initial 09 months of the financial year up to Dec. 2011, the revenue income of the Corporation is Rs.4721.03 Crores.

Statistical Data Regarding ESI Scheme

2020-Oct-10 14:29:21 |

The Corporation had determined to run all the ESI Hospitals/Dispensaries/Regional Offices/Branch Offices in its own buildings as way as potential

NATIONAL HEALTH PROGRAMMES

2020-Oct-06 16:24:51 |

ESIC participates altogether national health programmes under the aegis of Health Schemes of Govt. of India, and therefore the services there under are extended to the beneficiaries through our hospitals & dispensaries.

Expenditure on Super Specialty Treatment

2020-Oct-05 18:06:34 |

To provide cashlessly and hassle-free medical services, ESI Corporation in its 143rd meeting prevailed 08.07.2008 has taken a call for bearing the super-specialty expenditure directly w.e.f. 01.08.2008. For this, hold up arrangements are created directly by ESIC with acknowledged Govt. / personal hospitals for super specialty investigations and services.

TYPE OF MEDICAL BENEFITS PROVIDED UNDER ESI SCHEME

2020-Nov-26 13:17:22 |

The Employeesâ€™ State Insurance scheme provides full treatment within the shape of medical attending, treatment, medication and injections, specialist consultation, and hospitalization to Insured Persons and additionally to their dependents.

What is ESI

2020-Oct-02 17:48:49 |

The ESI scheme is financed primarily by contributions from employers and staff. The percentage of contribution by the employer is 4.75% of the wages payable to employees. The employeesâ€™ contribution is at the rate of 1.75% of the wages due to a worker. The State Governmentâ€™s share of 2 expenditure on the provision of medical care is to the extent of 12.5%. The maximum sharable amount is subject to the ceiling advised by the Corporation from time to time. Expenditure on the far side the prescribed ceiling is solely borne by the State Govts.