Zoho Payroll: Product Updates For India - August 2023
We're back with another set of exciting updates for August 2023, designed exclusively for the payroll landscape in India. This month's updates focus on two significant features that will empower both Indian employers and employees. These updates give you more control over your privacy and help you adhere to the latest laws and regulations. Let's delve into the details:
EPS calculation for higher PF wages 🇮🇳
As per the Supreme Court judgement related to pension schemes in India, employees now have the option to contribute to EPS (Employee Pension Scheme) on the capped wage of ₹15,000 or on their actual EPF wages. This new flexibility empowers employees to make informed decisions about their pension contributions, aligning with their financial preferences and requirements.
For instance, you can calculate EPS on actual PF wages for specific employees. When EPS is enabled for an employee, the system will automatically calculate the contribution values based on this configuration in the respective pay run. Additionally, this feature can be configured within Salary Templates, streamlining the process further. As you associate the salary template, the employee-level configurations will be automatically adjusted, saving you valuable time and effort.
Keep your salary information private (For Employee Portal) 🇮🇳
At Zoho Payroll, we understand the importance of safeguarding sensitive salary information. To address this, we've introduced the Dashboard Privacy feature for the Zoho Payroll employee portal - designed to protect your data from prying eyes. To view their Salary Information on the dashboard, employees can simply click on "Show," revealing the details.
That's a wrap for now! We are always eager to hear your suggestions so we can help you do payroll better. Feel free to share them in the comments below.
If you need any assistance, please write to us at support@zohopayroll.com, and we'll get help you. Stay tuned for more updates from Zoho Payroll!
Regards,
The Zoho Payroll Team
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