Live course with recording, material and certification

Objectives

• Provide in-depth knowledge of payroll with a detailed understanding of allowances & perquisities.
• Making fixed and Flexi pay structures with different allowances & perks_
• Providing an in-depth understanding of payroll income tax components_
• Enable HR payroll professionals to achieve better compliance &payroll structure such as provident fund laws, PT, ESI, LWF, gratuity rules, superannuation schemes, investment options etc.

Content:

Module 1: Overview of Payroll Management

This module will help the candidate with the knowledge of Payroll Management. Learn about HR planning, Employee transfer, and the Increment process. Know about the Income under the Head Salaries u/s 17(1) of Income Tax Act 1961. Gain a comprehensive understanding of Reimbursement management, attendance management, and Salary components.

Income Under The Head Salaries u/s 17(1) of Income Tax Act, 1961

• Meaning of Salary, Wages, Annuity and Retirement benefits
• Allowances and type of Allowances
• Valuation of Perquisites and Taxability of Perquisites
• Retirement benefits
• Salary Components in terms of Fixed and Variable:
• Setup Payroll Administration and Functions
• Structure of cost to the company - CTC Annexure
• Bonus Payment and Treatment of Bonus
• Fee and Commission and Overtime Payment
• Taxable and Non-Taxable Payments (Exempted)

 Allowances

• Fully taxable allowances
• Partially taxable allowances upto bills produced
• Partially taxable allowances upto limits

• Fully tax exempted allowances

 Perquisites

• House to stay
• Car by employer under different conditions 
• Driver by employer
• Medical Insurance
• Superannuation
• Furnishings
• NPS

Module 2: Labour Law Statutory Compliances & Computation

This module will equip the candidate with knowledge of the Labour law Statutory Compliances. Become aware of Employee Provident fund, Employee state insurance, Labour welfare fund, and more. 

Employee Provident Fund - PF

• What is a covered establishment?
• PF Wages, Contribution accounts & Rates
• PF Deposit Date                

Employee State Insurance - ESI

• What is a covered establishment?
• Existing Wage Limit, ESI contribution rates, Contribution Periods

Professional Tax - PTAX (PT)

• Professional tax applicability
• Professional tax slab state-wise
• Professional tax calculator
• Professional tax payment & registration

Labor Welfare Fund - LWF

• Labor welfare fund applicability
• Labor welfare fund rate(slabs) state-wise
• Where to deposit Labour Welfare Fund   

Professional Tax - PTAX (PT)

• PT applicability 
• PT slabs statewise
• PT exemptions and calculation

Statutory bonus and Gratuity

• Labor welfare fund applicability
• Labor welfare fund rate(slabs) state-wise

Module 3: Tax calculation, Tax Saving Investment Deductions and Exemptions

This module offers knowledge about the Tax Saving investment to the candidate. Know the deduction under the Income Tax Act , Investment proofs examination under section 80C, and more. Gain knowledge about the LTA, HRA, Leave Encashment, and Deduction of Interest on Housing Loan u/s 24(b) of Income Tax Act, 1961

Tax Deduction at Source - TDS

• What is Income-tax?
• Income tax slabs and Income tax Computation 

Deduction (u/s 80C - u/s 80U) of Chapter VI-A of Income Tax Act, 1961

• Deductions under section 80C.
• Deductions under section 80D, 80E, 80U.
• Deductions under section 80DD, 80DDB, 80CD2
• Deductions under section 80G, 80GG, 80GGA,
• Deductions under

• Validation or Examination of Investment Proofs and Reimbursement Claims

• Investment Proofs examination Under section 80C,
• Investment proofs examination others,
• Expense Bill examination of Reimbursements,
• Limit of Deductions and max eligibility up to Pro Rata, Previous Employer Income.
• 
  LTA, HRA, Leave Encashment, and Gratuity Exemption Calculations
• Leave Travel Exemption,
• House Rent allowance - HRA Exemption,
• Leave Encashment Exemption,
• Gratuity Exemption, Exemptions others.

  
  

• Deduction of Interest on Housing Loan u/s 24(b) of Income Tax Act, 1961

• Meaning of House Property
• Essential conditions for taxing income under this head
• Interest on borrowed capital, Standard deductions
• Deductions from income from house Property [Sec.24]
• Calculation format, and Examples

Calculating tax payable from employee salary after all exemptions and deductions

Module 4: Payroll Processing and Reports

This module will guide you through Payroll Processing methods. Learn to gather payroll inputs and set up employee information on Razorpay and excel sheet. Apply Compliances rule & Tax Rates and Determine Calculation & Deductions. Know about step-by-step verification and payroll checking. 

Claim and Reimbursement Management

Claim Management Module,

Expense bills Submission

Medical Reimbursement, and Travel Reimbursement

Type of Reimbursements

Disbursement of Claim Reimbursement

Attendance Management System and Resignation (Full and Final) of Exits

Time Management System

Leave Management System

Type of leaves, and Leave without Pay Calculation

Full and Final Settlement Input and Calculation

Gather Payroll Inputs, Setup Employees Information in Payroll System -Razorpay

• The Features of Payroll Processing,
• Employee Profile setup,
• Update Payroll Changes,

Verification and Payroll Checking Step by Step

• Prepaying variance reports of Monthly Payroll Payout,
• Transformation of Payroll inputs,
• Attribution of head-count and cost payout,
• Income Tax deduction and Variance of Income Tax deduction - TDS
• To give maximum benefit to Employee on investment declaration,
• Ensure Calculation of variance Compliances, PF, ESI, P.TAX, LWF, etc.

Salary Register, Slips, Bank Transfer and Management Information System - MIS

• Overview on salary Slip and Salary Register,
• Management Information Reports - MIS, Variance of Payroll and Cost Center Reports
• Bank Transfer to the Employee, Cost to Company Reports,

SAMPLE CERTIFICATE

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