What's New in Zoho Payroll [Indian Edition]: February 2020
Hello users,
Here at Zoho Payroll, we are excited to bring you additional features this year to enhance your payroll experience. Read on to catch a glimpse of what February brought for Zoho Payroll, and let us know what you think in the comments below.
Enable or disable EPS in salary details and templates
An employer is required to contribute 8.33% of total PF wages towards the Employee Pension Scheme (EPS). According to the EPF law, it's not mandatory for employers to contribute to the EPS, and the entire PF amount can be transferred to the Employee Provident Fund (EPF). Now, you have the option to enable or disable the EPS contribution when you're configuring an employee’s salary in Zoho Payroll. To do this:
- Navigate to the Employees module.
- Select the employee for whom you want to enable or disable EPS contribution.
- Click the Pencil icon next to the name.
- Under Statutory Components, check or uncheck the Contribute to Employee Pension Scheme option to enable or disable the EPS contribution.
Alternatively, you can enable or disable EPS contributions for multiple employees by creating a salary template and associating it with them.
- Go to Settings > Salary Templates.
- Create a new salary template.
- Add the earnings, reimbursements, and deductions.
- Under Deductions, select EPF - Employer Contribution.
- Check the Contribute to Employee Pension Scheme option to enable EPS.
- If you want to change the settings for a particular employee, you can do so from their profile.
- If you want to edit an existing template, select the template, click Edit and make the necessary changes.
Note: Any change made to EPS contribution in the template will be applicable only for the employees who will be associated to that template in the future, not to previously associated employees.
Bulk lock or unlock FBP, IT, and POI submission
You can unlock or lock the FBP, IT, and POI submission for selected employees in bulk. Using this option, you can carry out multiple phases of investment proof collection or FBP declaration for specific groups of employees. To do this:
- Go to the Employees module on the left sidebar.
- Select the employees for whom you want to unlock or lock proof submission or FBP declaration.
- Click More.
- Select the desired option.
Import terminated employees
TTerminated employees terminated from your previous payroll software can now be imported into Zoho Payroll. This eliminates the need to add them to your organization manually. To import terminated employees:
- Go to the Employees module on the left sidebar.
- Click the More icon on the top right corner and select Import Data.
- From the dropdown menu, select Employee Details under Complete Employee Basic Details
- Click Proceed.
- Upload the CSV or XLS file containing the employee details and click Next.
- Ensure that Employee Status and Date of Termination fields are present in the file and are mapped correctly.
- Review all the fields and click Import.
Employees' salary statement report
View the yearly salary statement of all your employees in the Employee Salary Statement report. With this, you'll know the break down of earnings, deductions, taxes, and reimbursements. You can use this report to review the employees' year-to-date salary.
To access this report:
To access this report:
Go to Reports > Payroll Overview > Employees' Salary Statement.
Detailed loan repayment summary
We have revamped the Loan Repayment Summary page to present loan details more clearly. The dates of repayment and the outstanding loan amount for each employee will be tracked from the pay runs automatically and shown on this page, so you can track employee loans effectively. To access an employee's loan details:
- Go to the Loans module.
- Select the employee for whom you need to view the loan summary.
Alternatively, you can go to the Employee module > Employee Profile > Loans and view the loan details.
That’s all for this month! Let us know what you like about these features, and give us your suggestions for new udpates. If you need any assistance using Zoho Payroll, drop us an email at support@zohopayroll.com.
The Union Budget 2020 proposed a few changes regarding income tax slabs and exemptions. We will be working on implementing these changes in Zoho Payroll and be ready in time for the budget-applicable fiscal year 2021-2022. Watch this space for updates on this
The Union Budget 2020 proposed a few changes regarding income tax slabs and exemptions. We will be working on implementing these changes in Zoho Payroll and be ready in time for the budget-applicable fiscal year 2021-2022. Watch this space for updates on this
Sincerely,
Supriya
The Zoho Payroll Team.
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