Amitmhrm
Hr Practices
Vijsnv
Student
Seenuv2008
Hr Manager
+6 Others

hi, could anybody explain what is the payroll process.. Thanks
25th February 2008 From India, Madras
HI, U can a get a brief idea of payroll from this attachment... Hope it will b beneficial. Regards Aranyak.
26th May 2008 From India, Thana

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Hi. I am new to this group. I hope this payroll calculator helps. The salary components can be modified as required. Regards, MR
29th May 2008 From India, Ahmadabad

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My CTC is Rs.Rs.5, 49,996.00 per annum
My Net Pay is RS.45,833 per month
Basic-27,500
HRA-??
Conveyance Allowance-??
Medical Allowance-??
Other Allowance-??
DEDUCTIONS
PF Contributions-??
Professional Tax-Rs.200

Pls guide Salary Calculator above Salary breakup

Regards
Manoj
29th June 2008 From India, Mumbai
Dear Mr. Manoj,
Your salary structure is like this-
Basic- 27500
HRA - 11000
CCA - 800
Medical Allowance- 1250
Other Allowance - 5283
Gross/Month = 45833
Gross/Annum = 12*45833
= 5,49,996/-
Regards,
Amit Seth.
45833
29th June 2008 From India, Ahmadabad
Hi All,

Payroll is the salary processing system.
Payroll can be seen from two aspects. One is from HR side and other from commercial people side. The HR persons process the payroll by means of sending attendance details or better say LWP details and other complete details that an employee is going to get in a particular month.
And after receiving those details the commercial people start making entry into payroll software and can be said start salary processing.

Well while processing salary fro a particular month we the HR personals provide complete LWP (Leave without Pay) details to the commercial dept.
While calculating LWP, we prepare the attendance sheet with teh weekly offs. And apart from weekly offs we check how many days an employee is absent, out of which how many days he was on leave that we crosscheck with leave applications. If the particular employee has given the approved leave application form and that leave is been there in his account then we put him on leave.
But If the person has not submitted the leave application form or he doesn't have any leave in his balance then for that particular day that employee will be assumed absent, and we will deduct his salary for that day.
Similarly if there is any provision to provide one days extra salary for an specific day if the employee does come, then we calculate one day extra salary for those employees who were present on that day.

I hope now it will be very much clear to you.

Regards,

Amit Seth.
29th June 2008 From India, Ahmadabad
Dear Manoj,
HRA is 40% of Basic salary..
CCA is fixed at 800/- as it is exempted from taxes.
Medical allowance of 1250/- is exempted from taxes after producing bill for same, so its also fixed.
Rest of basic would be considered as Special allowance..
Regards,
Amit Seth.
30th June 2008 From India, Ahmadabad
Hi Vij,

If you are looking for US payroll, this would definetely help you buddy!

1. US Payroll Services

IBSN Payroll offers an array of services from which to choose to help small and midsize businesses.

Direct deposit
Computerized Paychecks
Handwritten Paychecks
Tax payments and filings
940/941 forms
W2s and 1099s
Comprehensive services like 401K etc
Guaranteed Accurate

a) Hassle free Payroll

If you're like most small to midsize business people, you wear many hats and time is a precious commodity. Therefore, you, and your staff, need to spend your time on those areas that are most essential to your business - producing your product or service and selling it at a reasonable profit.

Processing payroll is time consuming both in terms of the actual processing time and in keeping up with IRS regulations. Outsourcing your payroll and payroll tax administration to IBSN allows you to handle your payroll obligations in an effective manner while allowing you to focus your time and energy where it should be on managing your business.

b) Total Pay

On Pay day, Paychecks are handed out, or they can be electronically deposited into employee bank accounts with our Direct Deposit service, which your employees embrace it. We also provide professional pay stubs detailing the current as well as year to date withholdings, vacation and sick time.
c) Employee Benefit Options

In today's tight labor market, employee benefits are one of the tools used by employers to attract and retain employees. IBSN offers both Section 125 Plan services as well as 401(k) plan record keeping.

TAX PAYMENTS AND FILINGS
A critical component of payroll is complying with IRS tax laws and filing requirements. Payroll Management assumes full responsibility for both the timeliness and accuracy of all payroll tax deposits and filings, so you never need to worry about it again. In the unlikely event that Payroll Management makes an error, we will pay all penalties; interest imposed, and responds to all inquiries on your behalf.
We prepare tax filings for the following forms: 940/Schedule A, 941/Schedule B, W-3, and state tax filings. We also submit your filings, payments, and deposits by the deadlines, to help you avoid penalties. We prepare W-2s for you and make them available for printing through a protected Web site.

Escrow and Payments of:

Federal withholding Taxes: In the United States income tax system, employers are required to withhold portion of each employees income and pay it directly to the US Internal Revenue service. This withholding act as a prepayment of tax they will owe at the end of the year, as well as direct payment of certain other taxes.

Social Security (FICA): A U.S. federal benefits program developed in 1935. The program includes retirement benefits, disability income, veteran's pension, public housing and even the food stamp program.

State and Federal Unemployment Act: Social Security legislation affecting labor costs and payroll records. Unlike the Federal Insurance Contribution Act (FICA) which is strictly a federal program, FUTA provides for cooperation between state and federal governments in the establishment and administration of unemployment insurance. While the federal act requires no employee contribution, some states levy an unemployment tax on the employee.
SUTA is part of the joint federal / state unemployment system. It provides for payments of unemployment compensation to workers who have lost their jobs. Most employers pay both a Federal and a state unemployment tax. In all but three states (Alaska, New Jersey and Pennsylvania) this tax is not deducted from the employees wages. The taxable wage base varies from state to state.

State and Local Taxes: Ever since the beginning of US history, the states have maintained the right to impose taxes. The Federal Government has always recognized this right. When US Constitution was adopted, the Federal Government was granted the authority to impose taxes. The states, however, retained the right to impose any type of tax except those taxes that are clearly forbidden by the United States Constitution and their own state constitutions.




Workers Compensation: Payments required by law to be made to an employee who is injured or disabled in connection with work.
Workers' compensation is a mandatory type of business insurance that provides employees who become injured or ill while on the job with medical coverage and income replacement. It also protects companies from being sued by employees for the workplace conditions that caused such an injury or illness
No More IRS Penalties!

With our payroll service, you'll never miss a tax deadline or pay the wrong amount

We Offers:

IBSN offers
Each Payroll
Each Quarter
  • Payroll Checks
  • Employee Earnings Statements
  • Payroll Journal
  • Departmental Cost Summary
  • Payroll Tax Summary
  • 941 Federal Tax Return
  • State Unemployment Tax Return
  • 940 Federal Unemployment Deposit
  • Local Tax Returns (as required)
Each Month
Each Year
  • Month-End Departmental Summary
  • Payroll Tax Summary
  • W-2's for all Employees
  • W-3's Federal Withholding Recap
  • 940 Federal Unemployment Tax Return
  • State/Local Withholding Recap
  • 943 for Agricultural Clients



Reports:

Each Pay Period:
  • Payroll Checks with Earnings Statement
  • Worksheet
  • Payroll Journal
  • Departmental Earnings and Deduction Summaries
  • Tax Summary Report
  • Federal/State/Local Tax Filing Services
  • Payroll Deduction Report (as required)
Quarterly:

we prepare these tax forms, and provide supporting information for quick and easy reference.
  • 941 Federal Tax Return
  • State Unemployment Tax Forms
  • Taxable Wages Recap Report
  • Detailed Employee Earning Histories
Annually:

We provide these important, completed forms.
  • W-2 Forms
  • Federal W-3 Form
  • Federal Unemployment 940 Form
  • Federal/State/Local Tax Recaps
  • Federal 1099 Forms
Special Reports and Services:

These reports are always available, although some reports require an additional fee.
  • Direct Deposit
  • General Ledger Posting Report/Interface
  • Labor Distribution Report
  • Sick/Vacation Accrual Reports
  • Workers' Compensation Report
  • 401K Report
  • Customized Management Reports
  • Check Signing
  • PC Entry
  • Time Clock Interface
  • Employee Benefits Reports
  • Monthly Reports and more!!

4th July 2008 From India, Hyderabad
HRA is 34.5% of basic pay medical n conyvance allowance is fixed(as per ur company). PF is 12% of basic pay of employee +12% of employer may be its useful for u.
17th July 2008 From India
Thank you all...:)
upto 1.5 Lacs is exempted for the taxes calculation for males..
Upto 1 Lac is exempted from taxes under section 80C.
Upto 15K is exempted under Section 80D.
Deduction under section 80G in respect of donations.
Regards,
Amit Seth.
4th July 2009 From India, Ahmadabad
i need a normal payroll calculator where i can put the gross salary and & no of days present deduction, & addd incentive. easyly. this is quite hard to understand.
6th July 2009 From India, Calcutta
Hi amit, i want to know wat r the percentage that you r dividing the hra, cca, medical, and other all this %, plz send me the percent amount that you calculate. Regards, Rimi
16th November 2009 From India, Calcutta
Hi Rimi,
We generally calculate HRA on the basis of city, he is working in.. For MEtro cities we keep it @50% of Basic salary and for Non Metro it is 40% of basic salary, which is what upto exempted from the Taxes...
CCA- Actually Rs. 800/- is exempted from Taxes, but yes one may keep it more even.. Like you can set the standard of CCA for your levels of staffs.
If Medical is paid in terms of Reimbursement then upto Rs. 15000/- i.e Rs. 1250/- per month is exempted from the Taxes.. But one may keep it more even, depends on company policy..
I hope, now your queries must have come down..
Regards,
Amit Seth.
16th November 2009 From India, Ahmadabad
Hi, I am looking for the Slabs for the following. Could somebody please help me in this regard. 1. PT (Professional Tax) Slabs 2. ESI Deductions 3. PF Calculation Thanks, Sree
16th November 2009 From India, Hyderabad
Hi Sree,
PT slab differ from State to State, so better you check it with your State personnel and collect the data.
Regarding PF, upto a Basic of Rs. 6500/- is covered under PF but those having a basic salary more than this may be exempted, but if once covered can't stop the contribution.
In ESIC, upto Gross salary of Rs. 10000/- are covered under the ESIC and contribution would be @1.75% from employee side and 4.75% from employer side. Those having Gross salary of more than 10,000/- are exempted from coverage.
Regards,
Amit Seth.
17th November 2009 From India, Ahmadabad
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