Payroll Calculation, Processing and Reporting in India
Payroll, or employee compensation management, is a multifaceted process. As part of payroll, businesses generally compute and withhold government taxes like social security and individual income taxes from employee salary.
Many companies also have benefit plans like health insurance, which include deductions of premiums from employee salary according to employee customization, adding another layer of activity for payroll processing.
To help shed some light on this complicated process, in this article we discuss:
• Salary
• Allowances (including housing and leave travel assistance)
• Payroll Reporting Forms and Submission Details
• The Benefits of Outsourcing Payroll
• Tax Payable Calculations for Metro and Non-Metro Cities (Sample Table)
To read the full version of this article, please purchase this issuein the Asia Briefing Bookstore. Companies requiring assistance may contact Dezan Shira & Associatesat india@dezshira.comor visit www.dezshira.com.
