Payroll Preparation: What Statutory Compliances Should We Consider?

Dear All,

Can you please shed some light on what statutory compliances are required or need to be taken care of at the time of preparing salaries?

Regards,
Amit

You may check this payroll resource; it is definitely useful to understand salary structuring and statutories. Here is the link to the resource: [GreytipOnlineWiki: Payroll Resources](http://wiki.greytip.in/wiki/Payroll_Resources)

I don't think this kind of software will give a clear picture of statutory requirements. ESI, PF, Professional tax, and TDS are the four main things you need to update while preparing salary. Salary components include basic, HRA, DA, TA, MA, and LTA, which you need to be aware of.