What's New in Zoho Payroll [Indian Edition]: May 2020
Hello, users,
As we enter into a new month of persevering through this pandemic, we hope you are safe and sound. Despite the situation, we have been doing our best to keep improving and developing features for you even while working from home. This month, we have rolled out a major feature in Zoho Payroll: Perquisite Calculation for company-provided vehicles.
Perquisite calculation for employer-owned vehicles
Many companies provide vehicles for their employees’ office commutes and other official purposes as a perquisite. Companies may also reimburse the maintenance and driver expenses for these cars. In Zoho Payroll, you can now calculate this perquisite rate for company-provided cars based on the engine capacity and the driver expenses as dictated by the Government.
The option to calculate this perquisite rate can be found in each employee's profile. To do so:
Go to the Employees module.
Go to the employee profile that you want to add company provided car details for.
Click the More icon.
Select Add/Update Vehicle Details.
In the dialog box, select the relevant option regarding the vehicle.
You will see the following options:
➤ Owner of the Car (Employer-owned (or) Hired for Employee / Employee-owned)
➤ Maintenance Cost Met By (Employer / Employee)
➤ Cubic Capacity of Company Owned Car (Up to 1600CC / Greater than 1600CC)
➤ Is the driver provided by company? (Yes / No)
Once this is done, the perquisite amount will be displayed on the screen. This amount is a system generated value based on predefined calculations.
Click Save.
At the moment, Zoho Payroll supports perquisite calculation only for employer-owned cars and not for employee-owned cars. However, you can manually add the perquisite value for employee-owned cars in the employee's profile and it will be considered in their payroll accordingly.
Try this feature and let us know what you think. Also, check out the initiatives taken by the Government of India to combat the ongoing economic crisis. You can always reach out to us at support@zohopayroll.com if you need help. Keep watching this space for more updates.
Sincerely,
Supriya A
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