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Payroll Compliance

Adhering to statutory compliance is necessary for all companies, regardless of the size of the company to keep their businesses safe from the legal trouble. To minimize the risk associated with the noncompliance of statutory requirements, one should have a strong knowledge of statutory compliance

It is very challenging for employers to manage statutory compliance. Companies have to spend a significant amount of time in their payroll management to ensure that they are compliant with the legal regulations and avoid heavy penalties

Jedhru Payroll experts team will accurately calculate all statutory deductions and generates consolidated monthly reports and challans of remittances, to ensure that you have complete peace of mind as far as this requirement is concerned

Common Statutory requirements that Indian companies have to follow for their payroll management are:

 

Jedhru Statutory Compliance
Provident Fund (PF)

Employee Provident Fund is a retirement benefit scheme that is available to all salaried employees. This fund is maintained by the Employees Provident Fund Organization of India (EPFO) and any company with over 20 employees is required by law to register with the EPFO.

EPF is calculated based on Basic+DA received in a particular month and the employee contribution is 12% on the earned Basic+DA. Employer will also need to contribute the same amount in EPF and EPS (Employee's Pension Scheme) accounts together

    We will help our customers with:

  • Register New employee and generate UAN
  • Upload KYC
  • Upload Monthly Contributions and Generate Challan
  • Mark Exit employees

Employee State Insurance (ESI)

Employees State Insurance Act, 1948 is a social insurance scheme that would protect the interest of workers in contingencies such as sickness, maternity, temporary or permanent physical disablement, death due to employment injury resulting in loss of wages or earning capacity

Every employee whose gross salary is less than 21000, should be covered under ESI. Currently, the employee's contribution rate is 1.75% of the wages and employer's contribution rate is 4.75% of the wages paid/payable in respect of the employees in every month

    We will help our customers with:

  • Register New employee, dependents and create Temporary IP
  • Update Nominee details
  • Upload Contributions and Generate Challan
  • Mark Exit and out of coverage employees

Professional Tax (PT)

Professional tax or employment tax is a state-based tax. Each state has their own tax slab and this is calculated based on earned gross. This is a tax that is to be paid by every single earning individual. The calculation and amount collected against Professional tax may differ from one state to another but it has a limit of Rs. 2500 per year

Labour Welfare Fund (LWF)

Labour welfare fund is a statutory contribution managed by individual state authorities. The state labour welfare board determines the amount and frequency of the contribution and it differs with every state. In some states the periodicity is annual and in some states it is during the month of June & December

Income Tax Deduction (TDS)

TDS has to be deducted from employees salary on monthly basis. As per the current budget, based on Tax slab tax is calculated and deducted monthly

Quarterly returns filing is mandatory with the Challans paid during the last quarter

We help our customers with TDS Return on Salary Payment (Form 24Q)

Gratuity

Gratuity shall be payable to an employee on the resignation/retirement of his/her employment after he/she has rendered continuous service for not less than five years. Gratuity act provides for payment of gratuity at the rate of 15 days wages for each completed year of service.

Jedhru will help calculating the exact gratuity amount to be paid based on employees service and last drawn wages