The Employees' Provident Fund Organisation (EPFO) is most likely to commence giving its recipients a decision to start withdrawing pension out from their account once they turn the age of 60, as compared to the 58-year maturity currently. The proposal for increasing the superannuation age was carried out by looking at various aspects. This proposal is expected to help the pension recipient grow his/her pension kitty....
Read MoreAccording to the income tax act, (section 92), every employer is eligible to deduct TDS from the salary of his (or her) employee if it crosses the basic exemption limit. Every employer has been asked to deduct the tax (also termed as TDS), and credit the remaining salary into the employee's account. Deducting a certain amount of your income for tax is mandatory. So, it is...
Read MoreAs a business owner, you want a team that you can count on to get the job done while you focus on other things. Management of any large corporation will tell you that finding good, loyal talent is hard. Take the time to develop a recruiting process that is constantly looking for people with the skills you need and the motivation to work for you....
Read MoreParliament on Friday, July 30, 2019, passed the Wage Code bill to enable the introduction of a minimum wage for every worker among both formal and informal sector workers. It also passed the provision for no discrimination based on gender in either recruitment or payment of wages. This bill has the potential to improve women labour force participation rate in the country. It will universalize minimum...
Read MoreHow can human resources influence business strategy? In several ways in fact depending upon the element of HR we’re looking at. Because human resources is a very vast field that covers every sphere of business operations. After all, a business however small or large is nothing more than people utilizing their collective skills effectively to provide a service or product that benefits all stakeholders. And managing people- or humans- is...
Read MorePayroll processing is an important function for any business and has to be executed without any errors. It has the potential to take away a hell of a lot of time of those responsible for HR and finance functions of both small and medium companies in India on a monthly basis. Even now many companies process payrolls manually. This makes it a laborious and error-prone...
Read MoreAll employees in an organization are not equal and cannot be expected to be wonderful performers. For various reasons, even the great performers become slack at times. However, low employee productivity does not augur well for businesses. Now, the question is what managers can do about it. It is not possible to take a one-solution-for-all approach when dealing with poor performers because people are different and...
Read MoreEvery company wants to Increase Productivity, Reduce Costs, Leverage Time & Resources, and Minimize Risk & Decrease Infrastructure Investment - Software solutions can help solve the problem. Every growing company think of creative ideas to enhance the efficiency of the system and may also face many hurdles in achieving the same. A big one is the burden of managing payroll and staying compliant with ever-changing tax...
Read MoreAccording to HR experts, salary or pay is not the top criterion that predicts workplace satisfaction. It is the company culture. The values of an organization, leadership quality of senior emloyees, and career opportunities within the company, in that order, also impact workplace satisfaction. In fact, there has been a tremendous increase in the significance of culture over the past few years as by a...
Read MoreImagine a car that has been engineered by a famous German engineer and has all these beautiful parts that make it the car fanatics drool on. But is there a point to that car if it is only a metal body? That’s exactly what an organization is without its employees. And after you have put in so many efforts to find the right candidate for...
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