Salary Slip – Format in Excel, Word, & Pdf (Free Download)
The salary slip, also known as a payslip, serves as an official document outlining an employee’s earnings and deductions. Each month,...
What is a Severance Pay? Meaning, Purpose and Benefits
The term “severance pay” carries significant weight. But what exactly does it entail? Whether you’re an employee facing...
Variable Pay – Meaning, Types, Advantages and Disadvantages
Employers may offer variable pay to incentivise and recognise their employee’s job performance. It’s an extra payment that may be given...
What is Payroll Management? – Meaning, Process, Calculation
Payroll management is one of the most crucial business operations. Managing payroll is essential for any business, regardless of size or...
What is Loss of Pay (LOP) in Salary? LOP Full Form
LOP, alternatively known as Leave Without Pay (LWP), arises when an employee opts for an approved leave of absence from their work duties...
Gratuity – Calculation, Eligibility and Taxation Rules
In employment, compensation extends far beyond just monthly salaries or hourly wages. Among the multiple components of an employee’s...
Advance Tax – Calculation & How to Pay Advance Tax Online?
Advance tax payment is a system where taxpayers can spread their tax obligations by making payments in multiple instalments throughout the...
Conveyance Allowance – Meaning, Limit, and Calculation
Conveyance allowance, commonly provided by organisations globally, is a prevalent employee benefit in India. Often referred to as travel...
Payroll Tax – Definition, Objective
Payroll tax is akin to tax deducted at source (TDS), where employers withhold a portion of an employee’s salary and remit it to the...
Leave Travel Allowance (LTA) – Rules, Claims, and Eligibility
LTA is a financial benefit for all employees. It helps cover domestic travel expenses for two trips in four financial years. The LTA amount...
