Apart from salary expenses an employer need to pay some amount to government also towards employees benefit as per govt act or rules such as Employees providentfund share, ESI shares etc. Every registered organization is liable to comply this. The accountant has a vital role in its accurate calculation and on time payment. Tally will allow you to calculate statutory contribution with complete accuracy and assist you in payment and statutory returns etc.In this lesson we are discussing employer’s statutory contribution pay heads.
Employer ESI contribution @ 4.75%
Being an accountant you …

As a part of computerization, modernization& automation of ESI Corporation has launched a project called “Project panchadeep” to increase the performance of the scheme and faster benefits to the insured employees. The computerization project is undertaken by WIPRO Technologies. For this purpose the employer code has been converted in to 17 digits. This code will be available at your branch office or at regional office. The details of the code is as shown below

A fresh declaration (from1) has to be submitted for the purposes of issuance of Smart card.
All employees and his …

I have created a combined ESI, EPF, Pay roll, calculator by using excel  as many are visiting accountinghead.com  in search of  ESI,EPF calculation in excel format. You can also process payroll by using this calculator. This EPF, ESI excel calculator is free to edit. The sheet is not password protected. You can add, remove columns & rows edit text, insert new formula as you wish. The percentage of calculation can also be changed at your discretion. Be careful while editing, inserting rows, columns in the sheet as there is a …

Are you new to our payroll tutorial, then you may want to read the following lessons.
Lesson 1 How to activate payroll & manual payroll calculation
Lesson 2 Payroll master creation
Lesson3 Employee salary deduction payhead
In our last lesson we have learned about employee earning pay head creation. In this lesson we will discuss about employee salary deduction pay head. Salary advance Employees might have paid against his salary in the middle of the month. An accountant is responsible to deduct the salary advance from his salary at the end of …

Are you new to our payroll tutorial, then you would probably like to read our previous lessons. The entire tutorial is based on given example in lesson1
Lesson 1 How to activate payroll & manual payroll calculation
Lesson 2 Payroll master creation
Pay heads may be either earnings of an employee or deduction from his earning etc. Pay heads are created for following purposes.

Employee earning pay heads
Deduction from employee salary
Employees statutory deduction
Employers statutory contributions
Bonus Pay head
Gratuity

Use of pay head is not limited to above. You can create your own as …

TDS- Tax deducted at source is one of the tax collecting method by goverment from assessee.Here it is the responsibility of the payer to deduct a certain percentage as prescribed by law and pay the tax within the stipulated period to government.
The tds rates hasbeen revised from  01.10.2009 passed in finance act(2)2009., Following are the hightlights of new tds rates amendment.

Surcharge and cess are removed and tds should be deducted on basic rate for resident tax payers. But Salary payment is subject to the dedction of cess
The receipient is a …