In India, the financial year is from 1st of April to 31st of March every year. By the 31st of March, all the financial obligations like tax filing, returns, should be fulfilled. It is essential for those who are required to follow the mercantile system, to ascertain the transactions accrued up to 31st of March…
Read articleThe Supreme Court has recently passed a landmark judgement on the Employee Provident Fund (EPF). This ‘Test of Universality’ judgement is bound to affect and impact the salaried class. Before we get into understanding how the Supreme Court judgement impacts the salaried class, here is a quick run through about Salary Break Up and Provident…
Read articleMoney is not be all and end all Money is undoubtedly a huge factor in motivation but certainly can’t buy an employee’s loyalty towards his organization. If we are completely honest with ourselves, pay can only motivate us so much. Even if we earn a good salary figure but are working to the point of…
Read articlePayroll is the statement of salary payments to be made to employees of a company. It is a routine but one of the essential activities in an organisation, and if there is no Payroll, there is no salary. Many employed people may have experienced and know what it is like when the monthly salary is…
Read articleNew trends in the IT staffing industry are not a new thing. We find that every year new processes, tools and methodologies that are taking the IT staffing industry by storm. To stay relevant in this fiercer industry, you must be familiar with the present trends and implement those latest technologies and changes. If you…
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What Is HRMS? HRMS is a comprehensive IT-based tool that can effectively and efficiently manage all your Human Resource (HR) needs. An HRMS can handle all activities under Employee Recruitment, Employee Management, and Employee Development. This means that an HRMS can bring under its umbrella all the levels of employees like topmost employees, senior employees,…
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Labour Law compliance checklist is nothing but a set of standard terms or conditions of employment. It may refer to several regulatory compliances including minimum wages act, work men’s compensation act, contract labor act, factories act, etc. For carrying out business, companies are required to meet statutory compliance requirements. There are various laws and acts…
Read articleManufacturing Organisations Service Organisations Micro scale – businesses whose plant, machinery, equipment, assets etc does not exceed 25 lakh rupees Micro scale – businesses whose plant, machinery, equipment, assets etc does not exceed 10 lakh rupees Small scale – businesses whose plant, machinery, equipment, assets etc does not exceed 5 crore rupees Small scale –…
Read articleCorporate Compliance refers to the various rules, regulations and laws of an area, region or country that a company or business has to follow or comply with. These compliances are a combination of guidelines for a corporate for both; it’s internal and external governance. Corporate Compliance is not only compulsory but also ensures that an…
Read articlePayroll is complex, time-consuming and highly detailed. Small business owners may choose to do payroll in-house for cost consumption. Payroll errors can easily damage a small firm. Small and medium businesses are finding it very difficult to manage their payroll function in-house. Many firms have outsourced their payroll functions to external third-party payroll service providers,…
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