Payroll Software Mumbai

Payroll software is a product offered by Prodigy Technologies, a software development company in Pune. Payroll software is available in two versions desktop payroll software and online payroll software or epayroll. However, this payroll software is not restricted for businesses in Pune only. On the other hand, there are several Mumbai based companies that use our payroll software for their payroll processes. This is an intelligent payroll software that helps to avoid manual calculations completely. Your HR professional can handover the responsibility of payroll calculations or salary calculation to this payroll software Mumbai completely and focus on other more important work.

Payroll software is based on dot net technology and follows all the salary and payroll laws set by the government. It is designed in such a way that anyone can access it easily. In other words, you do not have to go through any training for using this payroll software Mumbai. This software is compatible with Excel as well as all types of attendance punching machines, and also imports data from them during the payroll process. Payroll software mumbai is configured with all latest features required for payroll processing.

Bonus CalculationCalculations Bonus

March 23, 2016 at 06 : 19 PM

Bonus is Taxable. Minimum Bonus to be given is 8.33% of Basic+DA annually limit to wages 3500(month) and max is 12%. It means maximum bonus declared can be 20% of 3500 which comes out to be Rs 700 monthly or 8400 annually. If a company wishes to give more bonus it can give but the excess amount should be termed as ex-gratia, but both are taxable as per IT act. Also if an employee is earning more than Rs 10000 as Basic and DA then he is not eligible for bonus but if company wishes to give, bonus can be given to him
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Gratuity PaymentGratuity Gratuity Payment

March 23, 2016 at 06 : 23 PM

Gratuity payment is a lump sum that your company will pay you as an acknowledgement of your loyalty to the company. Naturally, gratuity becomes payable only after you have spent a certain number of years with the company. You will receive this benefit either at the time of retirement or when you resign from employment. There are two conditions that must be satisfied in order to be eligible to get the gratuity benefit:
  1. Your organization has a minimum of 10 people on payroll, i.e., at least 10 employees receiving salaries from the organization. Note that people on contract are not considered.
  2. You have completed at least 5 years with the organization. 
If an employee dies during the tenure of his employment or if employee is terminated due to disablement, then the 5-year rule is relaxed. So, even if such employee’s period of service is as little as 1 year, he/she will be eligible to receive gratuity if the first condition is met. According to the law, the
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