Hello everyone,

We hope you are all doing well. At Zoho Payroll, we have been adding even more new features and updates to enhance your payroll processing. Check out our updates for this month:

We have now introduced an Employee Termination Report in Zoho Payroll. In this report, you can find the list of all the employees who have resigned or been let go in the past year. This report can be accessed by navigating to Reports > Employee

Reports > Employee Termination Report. You can use this report to devise employee retention strategies, analyse settlement costs, and keep track of employee terminations.

You can view a terminated employee's service period, reason for termination, final settlement amount, and termination date in the report. You can also access their termination payrolls from the report.

To ensure a substantial amount is contributed to the EPF on behalf of the employee, Zoho Payroll allows the calculation of PF wages using as many earnings as possible. In general, the Basic earning and Dearness Allowance are always considered for calculating the PF wages. If these earnings do not amount to ₹15,000 (the ideal PF wage), there is an option to use restricted components (Transport Allowance, Telephone Allowance, etc) to bring the sum of PF wages to ₹15,000.

Now, let's say an employee has a 10-day loss of pay due to personal issues. In this case, the PF wages would be very low for that particular month. Hence, to compensate for this, we have introduced an option to consider all applicable PF components if PF wage is less than ₹15,000 after loss of pay so that your employee continues to enjoy the benefit of EPF later on.

Once you've let an employee go, you need to process their final settlement and send the payslip to the terminated employee. You can now customise the final settlement payslips that you send to your employees by including special notes, custom fields, and a declaration.

To customise the final settlement payslip:

Notes that you add in the Termination Pay Run will be displayed in the final settlement payslip.

Your employees can now keep track of the statutory component contributions made on their behalf in the Benefits Summary tab of their employee self-service portal. It contains the monthly breakdown of contributions made to the Employee Provident Fund, Employee State Insurance, and the Labour Welfare Fund, if applicable. With this report, employees can estimate their yearly contribution towards social security and plan for their retirement.

To view the benefits summary as an employee:

You can also export this report using the Export as PDF button in the top right corner.