This March, we're excited to let you know that one of the most awaited features, the Selective Payment of Employees, is now live. Learn how to make selective payments and read about all the other enhancements that we've made to Zoho Payroll this month.
Pay your employees selectively
Let’s consider a scenario. Nagma Balay runs an organisation with 50 employees, and payday is the 29th of every month. Out of these 50 employees, 12 of them need to be paid on the 15th of every month. With the new feature, she can now select these 12 employees in Zoho Payroll and pay them on the 15th while still paying the rest of her employees on the 29th.
To pay employees selectively:
Edit, enable, or disable prior payroll after organisation setup
If you are setting up Zoho Payroll for your organisation for the first time in the middle of a fiscal year, you might have to add prior payroll data for accurate tax calculations. With the latest enhancements done to prior payroll settings you can now:
Refer to our help document to learn more about how to edit, enable, or disable prior payroll.
Changes to statutory component calculations (PF, ESI, EDLI, and admin charges)
An employer's contribution towards PF includes the Employee Pension Scheme (EPS), Employees Deposit Linked Insurance scheme (EDLI), and EPF Admin charges. Now, you can include all these components as well as Employee State Insurance (ESI) as a part of an employee's CTC.
In regard to statutory components, you can now include all salary components (except HRA) for PF wage calculation if the calculated PF wage is less than ₹15,000. This selective inclusion will benefit employees by maximizing their statutory component contribution and increasing their take-home retirement fund.
And that's all for March! Let us know your thoughts on these features in the comments section. You can always reach out to us at firstname.lastname@example.org when you need help. Keep watching this space for more updates.