Payroll management is managing and organising the payment of employees’ salaries, wages, bonuses, and deductions. It is essential to run an organisation and plays a crucial role in maintaining employee morale, ensuring legal compliance, and promoting financial stability. In this blog post, we will explore the importance of the payroll management process and its benefits…
The Government of India after considering the complexity of tax systems introduced De jure forum to pronounce the Advance Ruling as In Personam Relief (i.e., Relief to specific person). Advance Ruling refers to the written response or decision by “Authority for Advance Ruling” (AAR) and “Appellate authority for Advance Ruling” (AAAR). It is a legal…
Every employee who has worked in the establishment for not less than 30 days in an accounting year shall be paid bonus by his / her employer as per Sec 8 of, The Payment of Bonus Act. The term ‘employee’ as defined in Sec 2(13) does not include contract workers. Hence the position is clear…
Yes, of course, it is available. Nowadays cloud computing is an on-demand technology and many companies come forward to offer cloud-based compliance solution. Among them, I would recommend looking at Compfie, futuristic cloud-based compliance tool that enables companies to track, govern and do all the regulatory requirements on the cloud thereby preventing future risks.
Simply put Compliance means abiding by rules, set guidelines or norms. Though one can relate compliance to even individual citizens, who must act in accordance to set laws for the greater benefit of the society. The term Compliance mostly and more importantly pertains to business establishments, industries, business services or products.
The economic times ahead do not look promising. Experts are predicting a downturn in financial markets. So, it does look like handling 2019 needs much preparation. If you are in charge of a workforce, how prepared are you in paying them (payroll)? That’s the short question. The long version requires a lot of thought. Read…
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