Hi Kavitha,
Providing you with some tips that may help you get a feel for the overall process:
Try to understand the following:
1. Scientific Pay/Wage structure considering Minimum wage, PF Gross, ESI Gross, Gratuity Concept, ITAX concept, etc.
2. Variable inputs - Attendance, OT, Extra earning if any in a particular month, Deduction if any, PF, ESI, PTAX, ITAX deductions, etc.
3. Leave Rule, OT Calculation (Factory/Establishment)
4. Late coming & early leaving related deductions if any
5. Consolidated salary/wage statement.
6. Structure of Payslip
7. PF, ESI, PTAX (State-specific), and ITAX Calculation and implementation procedure through the net.
8. Any other MIS if required from the payroll system, etc.
It will be better if you can visit any organization dealing with Compensation and Benefit MANAGEMENT AS WELL AS PAYROLL for better practical exposure.
For any further clarification if you think so, you may contact the undersigned.
S K Bandyopadhyay
USD HR Solutions
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