What Is Statutory Bonus? Meaning, Eligibility (₹21,000), Calculation and Due Date
Statutory bonus is the bonus an employer is required by law to pay eligible employees every year: at least 8.33% and at most 20% of their wages. It applies to employees earning up to ₹21,000 a month in establishments with 20 or more employees, and it must be paid within eight months of the end […]
What Is Input Tax Credit (ITC) Under GST? Conditions, Rules and Example
Input tax credit (ITC) is the GST you paid on your business purchases, which you can subtract from the GST you owe on your sales. If you paid ₹18,000 GST on raw materials and collected ₹27,000 GST from customers, you pay the government only the difference, ₹9,000. That is the whole idea: GST is meant […]
What are Payroll taxes in India?
What Are Payroll Taxes in India? Ever wonder what gets deducted from your salary besides income tax? It’s called payroll tax, and it’s like a contribution towards various social benefits you and your fellow employees get in India. Think of it like a group investment you make through your salary for future security. Confused by […]
Best Payroll Software in India (2026): 8 Options Compared
There is no single best payroll software in India. There is the best one for a 12-person agency, a different one for a 300-person IT services company, and a different one again for a manufacturer with three shifts and a biometric machine at the gate. Any list that ranks one product first for everyone is […]
What Is a Leave Management System? Benefits & Challenges
What Is a Leave Management System? Benefits & Challenges A leave management system is a tool that helps organizations efficiently handle employee time off. When we, as employees, need to take a break from work for various reasons, such as personal or health-related matters, having a system in place makes the process smoother. Taking some […]
How Payroll Software Works
How Payroll Software Works Wondering about payroll software and how it works? Does the thought of dealing with payroll stress you out, especially if you’re new to it? Well, you’re not alone, and many business owners can’t escape it. The IRS penalizes businesses billions for payroll errors, making it a significant expense. Mishandling it leads […]
What Is Payroll Report: Meaning, Types and How to Use
What Is Payroll Report: Meaning, Types and How to Use Welcome to the world of payroll reports – an essential part of managing a business. In this guide, we’ll explore what they mean, look at different types, and discuss how to use them effectively. Whether you’re experienced or just starting, this article is here to […]
How Much Does It Cost to Outsource Payroll
How Much Does It Cost to Outsource Payroll Wondering about the cost of outsourcing payroll for your business? Payroll is crucial for keeping employees happy and staying compliant. Whether you’re a small or big company, as you grow and deal with workers in different states, payroll can get complex. If you’re considering outsourcing, you might […]
Why do organizations use payroll software?
Why do organizations use payroll software? Welcome to the world of streamlined efficiency and hassle-free payroll management. In this digital era, organizations are harnessing the power of payroll software to simplify their complex payroll processes. Payroll software is like a reliable assistant for your organization’s financial tasks. Simply put, it’s a computer program designed to […]
How to Calculate Payroll? Seamless Payroll Calculations
How to Calculate Payroll? Seamless Payroll Calculations Navigating the intricacies of payroll calculation is essential for those in finance or HR roles, as it significantly impacts employee morale, productivity, and engagement within an organization. Persistent delays and errors in payroll processing can cast doubt on your organization’s credibility, potentially leading valuable employees to consider leaving. […]
Awards and Recognizations
The list of best payroll software in 2022 by SoftwareWorld Hivepayroll is considered one of the best payroll software options in 2022 by SoftwareWorld. We are very pleased to be included in the list of best payroll software in 2022. Our payroll software is designed to streamline the process for your business, making it easier […]
