Feature Tour

Calculators

Salaree.com has a modular framework allowing you to pick and choose the modules that are suitable or applicable for you.

In our parlance, we call these modules, “Calculators”. Salaree lists a number of calculators for various type of things you may want to do with your payroll.

Our modular approach allows us to add, modify more calculators as they become relevant and it allows you to unclutter and simplify your payroll by not having to deal with complexity that’s not applicable to your business.

This stems from the fact that businesses have varying level of requirements for similar functions. To give an example, some companies may want to have a flexible salary packages where they might want to fix a certain amount to be paid to all employees under a specific head like 250 per month for Medical to all employee in a certain department. Other businesses may simply want to configure the complete package on each employee individually. Some businesses may simply want to enter a basic salary amount against each employee and not bother with various salary heads etc. In future we may introduce an even more advanced (or even more simplified) package manager that may meet the requirements of tomorrow. When that happens, you’ll see more options and the ability to evaluate and pick those new calculators.

Currently we have a bouquet of calculators in various heads.

Package Calculators

Business must choose between one of the options.

  • Basic Package Calculator

    There is a fixed payable amount on each employee, no separate salary heads to deal with. Suitable for the simplest of cases where the employer simply pays one clear amount to the employee each month.

  • Simple Package Calculator

    This package manager allows you to define the required salary heads individually on each employee. For each employee, the package is clearly and managed on that employee itself. No company, department or designation related rules effect the employee’s packages. This is suitable for most businesses that want to keep things simple and straightforward and do not mind taking the extra effort in configuring an employee’s salary package individually.

  • Flexible Package Calculator

    This package manager allows you to define defaults on company, department or designation level which automatically apply to all employees that fall within the defined parameters. The package heads can then be overridden on an employee, department of designation level if that is required. This type of package is suitable for some companies that have large number of employees and perhaps want to define company wide rules for salary allowances.

Leave Calculators

Business must choose between one of the options.

  • Simple Leave Calculator

    As the name suggests, we simply insert the number of days that the employee is present and absent on a monthly basis. The leave/absence information entered is used to calculate the number of days for which the pay must be deducted. The LOP days entered is used to pro-rate the allowances that must be paid to the employee. This is probably suitable for businesses which do not want to handle the complexity of leave management on an employee level.

  • Leave Accounting Calculator

    Most businesses have rules which govern how the employee’s leaves are earned and how they are spent. Employer may grant a number of paid leaves to an employee for a period or specify how many can be earned depending on the days worked. Leaves while earned maybe spent depending on rules determined by the business. For e.g. some businesses allow leaves earned in one calendar year be available for spending in the next financial year. Other businesses may allow the employee to earn and spend leaves as they go. This calculator allows the business to configure rules suitable for leave accounting.

Optional Calculators

Each one the calculators below are optional and may be chosen depending on the company scenario.

  • Employee Advances Calculator

    This calculator allows the business to give an advance to an employee during a month as advance. The advance given is then deducted from the salary given to the employee. The complete advance amount is subtracted from the employee’s gross earnings.

  • Employee Loans Calculator

    Some businesses extend loans to employees for various reasons. They specify the period for which the loan is extended or the installment that must be deducted at monthly intervals. This calculator allows the business to manage employee loans. There is also the ability to override an EMI amount for a particular month if required for an employee. Once the loan is paid off, the loan automatically expiry and shows up as paid.

  • Employee Expense Claims Calculator

    Certain businesses wish to handle employee claims through payroll. This allows them to reduce accounting hassles on a monthly basis and reduce the number of payouts. This calculators assists the business by allowing monthly expense claims to be inserted on an employee with a description. The expense amount is then added to the employee’s earnings for that month. It is assumed that claims entered are approved before hand.

  • ESI Calculator

    This calculator is used by businesses that are registered under ESI and have statutory obligations towards making deposits for and on behalf of their employees.

  • PF Calculator

    This calculator is used by businesses that are registered under Provident Fund and have statutory obligations towards making deposits for and on behalf of their employees.

  • Insurance Calculator

    This calculator allows businesses to deduct the monthly insurance policy premium and deposit it with an insurance company on a monthly basis until the policy premiums are required to be paid.

  • Labour Welfare Calculator

    Certain businesses must deduct and contribute towards their state’s Labour Welfare Fund. This calculator helps those companies remain compliant.

  • Gratuity Fund Calculator

    Certain Govt. agencies contribute a percentage of the employee’s earnings on a monthly basis towards a gratuity fund. Suitable if you are a Govt. Agency. Please note that this is different from the gratuity payout when a employee leaves service after many years of working or retiring.

  • Bonus Calculator

    Some businesses must payout an annual bonus depending on the annual earnings of an employee. This calculator reports the total earnings for eligible employees and an exact bonus payout on each employee.

  • Incentive Calculator

    Businesses can give ad-hoc incentives to employees for a given month. This incentive is considered taxable and can be considered as a one-off bonus depending on employee performance at the discretion of the business. Business is free to enter a description for the incentive, the date it is given and the amount of incentive given.

  • Professional Tax Calculator

    Professional Tax is payable to the government for companies (and employees working) in certain regions of India. This calculator helps you determine your expenditure and deposit for Professional Tax.

  • Dearness Relief Calculator

    This calculator is suitable for certain businesses and Govt. agencies that give out a certain government proscribed percentage as additional Dearness Relief on top of existing basic package to employees.

Income Tax Calculators

Business must choose between one of the options.

  • Manual Tax Calculator

    TDS is calculated manually by the business for the employee, the payroll is used to simply update the fixed amount to be deducted as TDS each month. Unfortunately Salaree gets to do no hardwork here.

  • Pay When Applicable TDS Calculator

    This calculator automatically deducts the TDS on an employee when they fall in the Tax net. The TDS deducted is based on the total earnings that the employee has had with the business so far. Allowances such as HRA, Medical and 80c are taken care of. Employee may enter details of their investments which fall under the 80c scheme to reduce their tax burden.

  • Annualized Equated TDS Calculator

    This calculator estimates the annual employee income and determines the total annual tax burden of the employee. This annual tax burden is then equated into the remaining months of the year. This method allows a more balanced TDS deduction throughout the year. Any earnings (and tax deduction) from previous employers can be entered and taken into account when calculating TDS. Any increments received during the year automatically recalculates and equates the TDS for the remaining months of the financial year.

Employee State Insurance

  • Statutory Forms
  • Payment Challans
  • Automatic Update of Rules by our team
  • Control of entry and exit from ESI
  • Employee, Salary Sheet, Annual and Company Views.

ESI is applicable to your company if you have more than 10 employees whose salary is above 10,000 per month. In case your company does not draw power to run (if you are not a factory), the number of employees then the limit is 20 employees.

Salaree allows you to easily manage the various different aspects of your compliance with the ESI department.

Provident Fund

  • Statutory Forms
  • Payment Challans
  • Automatic Update of Rules by our team
  • Control over who goes in or out of PF
  • Optional Module
  • Employee specific view
  • Salary Sheet specific View
  • Company specific View

Provident Fund is applicable to your company if you have more than 20 employees. The eligibility and details of PF are covered in this >>post<<. Salaree allows you to easily manage the various different aspects of Provident Fund.

Employee Loans

  • Maintain a register of employee loans.
  • Charge EMI as per amount defined in the loan until the loan is paid off.
  • Allow suspension of EMI or override the EMI for a month.
  • Bulk Insertion of Loan details for a month or an employee thru the web forms and excel
  • Interest bearing loans coming soon

Some businesses extend loans to employees against future salary earnings. The loan tenure and the equated monthly installment is negotiated with the employer. The agreed EMI is deducted from salary each month until the loan is paid off. The monthly installment (EMI) can be overridden for any number of months. After each month, the business can keep track of all employee loans, the amount paid off, the amount remaining and the estimated months in which the loan would be paid off. The EMI deducted is taxable as it is given from taxable earnings. In future we will extend the option of choosing an simple interest bearing loan calculator if you prefer to give those type of loans (you can still give those loans but the EMI, and loan amount must be calculated manually). An employee can be extended more than one loan at a time.

Employee Advances

  • Maintain a register of advances given to employees.
  • Deduct advanced amount from employee payable accurately.
  • Check list of monies advanced to employees.

This optional calculators helps the business keep track of the monies advanced to the employees during a month. The advanced amount is deducted from their net payable salary at the end of the month. An advance once deducted is obviously not deducted again. As such it serves as a one-off deduction. The deducted advance amount is considered taxable income and as such included in estimated total earnings of the employee.

You can enter multiple advances within a month on an employee. You can also enter or bulk upload employee advances for a particular month.

Expense Claims

  • Maintain a register of expense claims given to employees.
  • Accurately pay out each claim to the employee as per monthly entry.
  • Check list of claims paid out to employees.

This optional calculators helps the business keep track of the monies expensed by the employees during a month. The reimbursed amount is added to the employee’s net payable salary at the end of the month. Once an expense claim is paid out on salary sheet it is marked billed and obviously excluded from any future salary run. As such it serves as a one-off allowance. The claimed amount is not considered as taxable income and as such excluded in estimated total earnings of the employee. This process can also be handled outside the payroll by businesses through cash vouchers but doing it thru payroll allows the business to keep proper tabs on what expenses are being claimed. This also serves to reduce the overhead of unnecessary cashier transactions and operations not to mention bank trips.

You can enter multiple claims within a month on an employee. You can also enter or bulk upload employee claims for a particular month.

Insurance Premiums

  • Maintain a register of employee’s insurance premiums
  • Deduct Insurance Premiums on behalf of the employee from the salary
  • Formatted letter to the insurance company with premiums collected
  • Bulk import insurance details for multiple employees in a month or an employee

Certain businesses provide facilities to the employees whereby they contribute a part of their salary towards buying insurance (e.g. Life Insurance). Each month, insurance premium is deducted from the earnings. This amount can then be deposited with the Insurance company. The Insurance premiums are subject to taxation unless they are covered under investments in 80c of the Indian Tax Law.

Employee can have multiple insurance policies running at one time. At the moment, business can only deposit insurances in one insurance company of their selection.

Professional Tax

Professional Tax is applicable in various states of the country.

Salaree.com supports Professional Tax calculation for most states out of the box. This functionality will soon be enhanced to include more information for the user to see reports on the employee and company. You will also be able to see the slabs that are being made applicable for each state.

Contact

Email us at : friends (at) salaree (dot) com

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About

Salaree.com is an Online Payroll application brought to you by Rising Sun. We believe that your business deserves to have a payroll service that leverages the possibilities available now with the advent of the internet. Our service runs as SaaS application to allow us to be involved in your success and operations on a continual basis. We'll continue to upgrade and update our service as the market needs change and we understand your needs.

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