Let’s first understand what the payments and deductions provided by the employer Payments: Any amount disbursed to an employee by the employer falls under underpayments. They include the
When a person pays certain types of income, such as salary, commission, rent, professional fees, interest, etc., they deduct a specific amount known as Tax Deducted at Source
Form 16/16A Form 16/16A is a mandatory TDS certificate issued by the employer to the employees. This certificate of deduction of tax at source and issued on deduction
It’s not easy to dive into the salary structure pool, especially if you’re an employee who isn’t aware of the latest changes on salary and tax. The payroll
Highlights of Union Budget for the FY 2022-2023 We have a promise from the government for a steady & predictable tax system Demystified old & new tax regimes
Basically, these forms are TDS certificates, with the following differences Form 16 Form 16 is issued by the Employer to Employee. Issued annually before 15th June. Want to
1. What is professional tax? The State levies this tax on the income earned through profession, trade, calling, or employment, based on slab rates depending on the individual’s
What is ESI? Employees’ State Insurance Act, 1948 (ESI Act) is social security legislation aimed at providing benefits to employees in case of sickness, maternity, employment injury, and
What is Provident Fund (PF)? The Employees’ Provident Fund Organization introduced PF, a retirement savings scheme, in 1952. All organizations having more than 20 employees are eligible under
Budget 2020 has given taxpayers the choice to settle between the present tax regime (which allows availing existing tax exemptions and deductions) and a replacement tax regime with
What is an Employee Provident Fund? EPF or Employee provident fund was introduced under the Employee provident fund and miscellaneous act in the year 1952. It is a
The attendance management system is a key process in the HR department. Tracking the attendance of employees is crucial for the reliability and profitability of the company. To
