What Is a Health Reimbursement Arrangement (HRA)? A Health Reimbursement Arrangement, also referred to as a health reimbursement account, is an employer health benefit plan. The plan is employer-funded, offers tax advantages, and is approved by the IRS. The purpose of an HRA is for an employ...
This step involves defining payroll policy for your business. You need to factor in pay policy i.e., the net amount to be paid to different employees based on their role and position, divide the salary structure based on the benefits you are offering such as flexible benefits,HRA (house re...
Payroll is also responsible for depositing dues like TDS and PF with appropriate authorities to comply with tax and other laws Issuing salary The primary duty of the payroll department is to disburse salary to the employees every month or week, depending on the payroll cycle as determined in th...
Direct compensation is the cash that an employer offers workers in exchange for their labour. Financial perks like mortgage payments, basic pay, transportation, medical insurance, leave trip reimbursements, special allowances, gratuities, and bonuses. Employees should be informed of their whole compensat...
The staycation rose in popularity during the pandemic - but business slowed down markedly for UK tourist spots when international travel opened up again. Trivago is attributing the rise this year to people shunning the US and concerns about the global economy. ...
In a competitive labor market, studio owners have had to flex their muscles to stand out and attract prospective new team members. One way they've made the jump is by offering increasingly robust employee benefits packages to both part- and full-time employees—and it appears...
Learn what life after clearing the SSC MTS exam is like. Learn about career growth, promotions, salary structure, benefits, and perks offered to SSC MTS employees.
Basic Salary: $1000 TA/DA: $500 Conveyance Allowance: $200 Retirals: $300 Bonus: $800 Medical Allowance: $200 Hence, the Gross Salary in this case is sum of all the components: $3000 And the Net Salary would be total income without the retirals & taxes: $2800 - $300 – Income Ta...
The Universal Account Number, or UAN, is a 12-digit identification number issued to both you and your employer and allows you to contribute to the EPF.
The gross total income is the sum of all sources of income that an individual has or the total income he earns in a financial year. It can fall into one of the five heads:Income from Salary: Income from House Property: Any residential or commercial property that you own will be taxed....