Payroll
12 Payroll
Payroll & Compliance – Important Legislative Updates in October!
ADP monthly chronicle – Oct. 2019New Rule for Insured Person (IP) generation under ESICEmployee State Insurance Corporation (ESIC) introduced a new rule, wherein, all new joinees would be allotted/seeded with IP number, immediately upon his date of appointment. Thus, ESIC online portal currently mandates companies to generateIP details and seed the same within 10 days of joining to avoid any discrepancies.The department has informed, that any such monthly contribution for such employees must be submitted within the due date.The department…
Posted by: The ADP Team 11 Nov 2019 | 0 Comments
Evolution of Pay: Remember Pay Cheques?
The process of paying employees has changed a lot in recent years. We sat down with Don Weinstein, ADP's corporate vice president of Global Product and Technology, to discuss the state of pay and how technology and people's attitudes around being paid are changing.Q: Why is the way we pay people changing and why does it matter?Pay is something that is near and dear to everyone's heart, and it's undergoing fundamental changes. Since we've been digitizing pay and going to…
Posted by: The ADP Team 24 Jul 2019 | 0 Comments
Time to Rethink Your Pay Strategy? Here Are 3 Aspects to Consider
Digital and mobile technology is changing every aspect of our daily lives, including the way how we pay for things. A PwC study reports that mobile payment is gaining widespread acceptance globally. In Asia where smartphone penetration is high, the trend of going cashless is even more prominent.Despite the fact that we have more payment options as consumers now, the way how we get paid as employees has mostly remained the same.A recent study on the Future of Pay by…
Posted by: The ADP Team 02 Jul 2019 | 0 Comments
Applicability and process to obtain Standing Order under the Industrial Employment (Standing Order) Act, 1946
(Volume – 36 of Coffee Break Compliance Guide from Anandan Subramaniam) Is it applicable to your establishment? What is the objective of the Standing Order? There was no uniformity in the conditions of service of workers until this act was brought, which led to friction between workers and Management. An Industrial worker has the right to know the Terms & condition which he is expected to follow. Hence the legislation. The Industrial Employment (Standing Orders) Act, 1946, which, inter alia,…
Posted by: ericmikio 22 Apr 2019 | 0 Comments
Cost-to-Company (CTC) and Statutory Compliance
(Volume – 35 of Coffee Break Compliance Guide from Anandan Subramaniam) CTC – a term which has replaced wages/salary. Is it statutorily right?Wages or Salary is a periodic payment received by a person engaged to perform specific job in an organization.As per section 3 of Payment of Wages Act, 1936, every employer shall be responsible for the payment of all wages reported to be paid under this Act to persons employed by him and in case of persons employed in Factories,…
Posted by: ericmikio 08 Apr 2019 | 0 Comments