10 Innovative Hiring Strategies for 2020

Today’s world markets are in a constant state of flux. There is a frantic struggle to keep up with developments across various fields and markets. Aspects such as government policies, trade, international all impact how markets constantly evolve, which in turn will impact the hiring and staffing strategy of major organizations. As the year is almost at an end and a new one dawns, companies must be flexible yet taut when the time comes to hire the best talent for their firms....

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Remote Workforces

Remote Workforces – The Next Big Thing

Cutthroat competitiveness has become stable across markets and workplaces globally. Employers and investors must consistently keep abreast of the competition by turning to innovative strategies that give them an edge. Organizations are attempting to get the best out of their employees as well as stay effective is using remote workplaces. Remote WorkplacesRemote workplaces refer to the concept where employees do not have to be in a physical office space to execute their tasks. Employees that may find it difficult to commute to work or may not be within...

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Switching Jobs

Switching Jobs in the middle of the Financial Year? Here’s How to Deal with Multiple Form 16s

These days’ professionals often tend to switch their jobs as if they get better paymasters. Form 16s is one of the most critical documents for filing income tax return at the end of a financial year. This form contains a summary of taxes deducted by your employer and deposited against your PAN with the government. This form also includes a summary of the total amount that is actually paid by the employer to the employee. Managed payroll services are an important part and parcel of handling form 16s if an...

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Payroll Statutory Compliance – The Factors that Drive It

Payroll Statutory Compliance – The Factors that Drive It

Payroll is a process central to any organization. It directly affects how an organization does business, how it treats its employees, its growth, and several other ways. Payroll may refer to not just the list of employees and their records but the task of managing them as well. Payroll processing is indeed a grueling task, one that has no margin for error. The consequences would be detrimental to the organization’s growth. In this regard, most HR managers choose to outsource...

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The Compliance Calendar: A Guide to Crucial Dates for HR Managers

The new year is fast approaching, and with it come afresh set of tasks and challenges. Below are some important dates to be taken note. These dates are as per Labour Compliance in India and are consistent across all companies.TDS is tax deducted at the source; This means that employees whoa repaid a certain amount of money will have a small percentage of deducted as per managers can quickly finish this task by using the ITNS 281 challan.The ITNS 281 challan is a tax payment challan...

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What is the penalty for not paying payroll taxes?

What is the penalty for not paying payroll taxes?

TAX bills are bad enough, but worse are the penalties involved with the non-payment of the same. There may be many reasons for the penalty to be levied, but the chief reason is either failure to pay the amount or not adhering to income tax return processing and filing. It can be also due to several retirement account inactions or non-possession of health insurance and not paying the full tax money. There are many different ways in which the IRS...

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SEZs and Labour Law Compliance: Protecting Worker Interests

SEZs and Labour Law Compliance: Protecting Worker Interests

Special economic zone (SEZs) are a direct consequence of the phenomenon of foreign direct investment (FDI). In simpler terms, SEZs are geographical areas within a country that have different laws and systems than other geographic regions. These zones are designated for trade and business and the overall economic development of surrounding areas. Some of the earliest, most successful SEZs are in China, with the most successful one in Shenzhen province. They have been operational since the 1980s.SEZs in IndiaIndia set up an export processing zone (EPZ), one...

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Payroll Structures in India: All you need to know

Payroll structure is the details of the salary that have been offered in terms of the breakup of different components constituting the compensation. Knowledge of the components is very crucial to the employee as he gets an idea about how much goes into forced savings and what kind of tax exemptions to claim.Components of Pay Structure in IndiaBasic SalaryIt is the base income of an employee, comprising of 35% - 50% of the total salary. This is determined by the designation of the employee and the industry...

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Why Strategic Talent Sourcing is Key to High-Quality Hires?

Why Strategic Talent Sourcing is Key to High-Quality Hires?

Talent sourcing strategies are the first step in getting the best talents on board. It is both time-efficient and cost-effective. Let us see the entire process in a bit of detail.What is talent sourcing?Talent sourcing is a structured method of identifying, engaging, and networking with relevant talent pools of best fit. It is also defined as to finding prospective candidates to generate a steady flow for current and future positions.Talent sourcing strategies are very important for high-quality hires due to the following reasons:High quality hires need analysis based...

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Special Compliance Requirements for Government Contractors

Special Compliance Requirements for Government Contractors

Government contracts, as the name suggests, are those undertaken or signed by state or central governments. They are initiatives signed for various purposes such as construction and maintenance, manpower and staffing, IT-related projects, and so on. Government contract compliance is a constantly evolving challenge While one of the parties in the contract is the government, the other part is typically an organization that carries out the activities in the contract. They are called contractors. Types Contracts in India are of 4 major types:Fixed...

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