Monthly Archives - October 2018

Core components of payroll processing in India

The monthly salary and wages disbursement have several key components structured together in every payroll. Within and between gross and net salary, there are several ‘components’ that make a salary package. These are essential for the employers and employees to calculate taxes, provident fund (PF), medical expenses, benefits, travel allowance and so on.Framing the salary components is often one of the biggest challenges in every payroll management system. Every salary consists of ‘taxable’ and ‘tax-exempt’, variable, constant pay, some...

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