This payroll terms glossary contains the most comprehensive collection of definitions of various payroll terms & compliance terms on the internet.
Basic payroll terms such as types of salary components & leaves have been explained in the beginning and as you keep reading, you’ll see advanced payroll terms and payroll abbreviations related to taxation and labour laws.
Figuring out what compliances your business is liable for is only half the battle. With an array of payroll compliances to follow, it becomes quite a task to keep track of all the filing and payment deadlines. Furthermore, each state in India has its own set of deadlines. Missing deadlines and inviting unnecessary legal hassles becomes inevitable if a proper process is not followed. So, to make life easier for you, we have designed a FREE payroll compliance calendar that will help you to know and track deadlines for payment & filing of PF, PT, ESI and TDS. Never miss a payroll compliance deadline again!
“In this world, nothing is certain except for Death and Taxes” – Benjamin Franklin.
Let’s face it. Nobody loves taxes. But, we have to admit it’s a necessary evil and like in all the countries of the world, companies in India also have to adhere to a set of compliance laws. In this post, we are going to simplify Payroll Compliance Laws of India. Labour laws govern employee remuneration standards, social security benefits, Industrial relations, contractual/temporary employment, working conditions, occupational safety & health and lastly mandates some reporting requirements at fixed intervals.