Need Free Payroll Software for 20 Employees: Any Recommendations for Managing Salaries and Compliance?

Dear All,

I have 20 employees in my company. Can anyone send me free payroll software to process their salaries and statutory compliances?

Regards,
Sandeep

Hi, my name is Obin Millan from Cochin. I have received a job offer from Cochin Hospital. However, I am unfamiliar with how to calculate PF and ESI, as I have not used them in my previous experience. Therefore, I kindly request your guidance on the normal ESI and PF rates, as well as the rules and regulations associated with ESI and PF. I would appreciate instructions on how to calculate and understand how these systems work. I am seeking your valuable advice, tips, and instructions. Thank you so much. Have a nice day.

- Obin Millan -

Hi all,

I presume the purpose of the question here was to know more details about statutory deductions. It seems we have deviated from the point, and everyone has put effort into providing details about payroll software. Those who are familiar with statutory deductions may help solve the query. Looking forward to your responses.

Regards,
Ms. George

Hi,

How are you?

PF is calculated on Basic at 12%. If the salary is 10,000 and bifurcated into basic, HRA, and conveyance, with Basic at 7,000, HRA at 1,500, and conveyance at 1,500, then the calculation would be: 7000 * 12%. The basic amount is always fixed as per company rules. The employer will also contribute 12%, which is further bifurcated into 8.33% and 3.67%. The 8.33% is hidden and counts as FPF, which stands for Family Provident Fund.

If an employee withdraws their PF before 10 years, they will receive their contribution of 12% and the employer's contribution of 8.33% + 3.67%. However, if an employee withdraws their PF after 10 years, they can withdraw the full amount and only the pension will be a part of it. Additionally, they will receive interest on their PF, i.e., 8.33%.

ESIC, which stands for the Employee State Insurance Company, is applicable to employees with a salary of up to 15K per month. The ESIC contribution on the employee's part is 1.75% of the gross salary, while the employer contributes 4.75%. ESIC covers health and medical facilities.