Allowances & Deductions
Connect HRMS can solve your allowances and deductions clutter in a jiff. Connect HRMS will assist you to calculate the tax of employee’s gross pay. The allowance is auto calculated to the gross pay before payroll is generated.manages the funds and donations separately by incorporating the company’s formulas and policies and implementing them automatically. Any funds and their contributions are calculated in accordance to the rules and regulation of the business and also in line with the laws of the land. Records against each individual is maintained separately and can be reviewed in detail at any stage. Thus making the life of the employee and the employer easy.
Allowances and Deductions Features
Auto Tax Deductions
The Tax is deducted according to company policy and the tax slabs deducted according to government policy.
Allowance Calculations
The allowance is calculate periodically according to the ranks in Connect HRMS without the fuss of extra paper work.
Pay time Calculations
Monthly, Weekly, Daily or Hourly Based, no matter what the payment setup is, Connect HRMS calculates it.
Over-Time Calculation
In Connect HRMS Group based overtime rules and others can be handled with ease and the in case a certain employee group is to be denied or allowed to avail overtime.
Deduction Types
Deduction types can be created in a custom way in Connect HRMS.
Policy Based Bonuses
Connect HRMS the employees are assign the ranks and then each rank assigned its policy which is then mapped into the payroll system which automatically calculates the bonuses according to the policy.
Integrated Tax Slabs
The tax slabs are edit which is then integrated into the payroll and automatically deducted from pay of the employee.
EOBI
The EOBI are edit which is then integrated into the payroll and automatically deducted from pay of the employee.
