Statutory Compliances in india(PF,ESI,TDS )eReturns Statutory Compliances

May 10, 2018 at 05 : 19 AM

Statutory compliance is all about the organizations those must follow the standard Laws. Statutory Compliances such as PF, Factories Act, ESI Act, Minimum Wages Act, Bonus Act, Professional Tax Act, Shop and Establishment Act are required of Indian companies, organization etc.

Intellipayroll is 100% compliant with all government  laws.  Which  includes PF, ESIC, PT, TDS, LWF, Bonus and other modules. So now your HR can devote quality time to their core responsibilities and forget about complicated compliances hassle.

Timely and efficient statutory compliance process means:

• Avoid legal implications & penalties

• Access to regional and local expertise 

• Centralized error free data & documents that is readily available

• Professional support during inspections / audits 

• Assured ethical practices with strict timeline adherence 

• Achieve 100% compliance

1. Provident Fund - PF

PF is calculated on Basic (BA), DA, and arrear on BA and DA. The amount on which PF is calculated is called PF wages. All statutory forms and electronic challans are auto generated every month with the help of Intellipayroll.

2. Employee State Insurance - ESI

Employees' State Insurance (abbreviated as ESI) is a self-financing social security and health insurance scheme for Indian workers. ESI calculation is completely configurable in Intellipayroll.

3. Income Tax and TDS

Intellipayroll calculates TDS automatically. The TDS applicability slab is predefined which can also be changed. Concessions provided by government under various sections are also configured. One can save tax by declaring under these sections.

4. Professional Tax - PT

Professional Tax (PT) is state based tax allowed as a deduction from the gross income before computing the tax. All PT calculations are calculated through Intellipayroll and necessary forms are generated.

5. Labor Welfare Fund - LWF

Labour welfare fund is a statutory contribution managed by individual state authorities. Labour welfare refers to all the facilities provided to labor in order to improve their working conditions.

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