It needs in depth knowledge of Salary components, Laws aligned with this components and new amendments from govt. It is done on software as well as manual. Basically it is used to design CTC of an employee. It is very much important at the time of negotiation and how much Net salary (in hand) and Tax benefits your company can avail to an employee.
For C&B you will be in continuous Learning process even after practical training but your basics should be strong about entire process. We have designed C&B taking various salary components used in industry verticals for practical process training.
Here where the real HR Person work starts as a Generalist. Already MBA (HR) candidates have conceptual knowledge about the laws from college lectures. Even if we say practical training still there is so much to explore that even Industry experts have to be in continuous learning process of amendments from central to state govt. so even if you have studied a single law and practically applied it may be change in other circumstances accordingly. So it needs in dept practical knowledge and applications.
So for easy way we have divided into Initial level, Medium level and advanced level which we are covering in statutory compliances.
Basically it contains entire form filling and covers legal compliances to be followed by the companies. It needs high level knowledge where domain expertise even in large companies they have the legal department for the same.
Implementation and follow up of the Minimum Wages declared by Govt. of Maharashtra from time to time. Display of abstract of minimum wages in Form-I and Form-II rule 27 I. Attendance Card cum wages slips, compliance of the visit remarks by the Govt. Labour officer and inspection under minimum wages act.
Registration of the Act, Monthly deductions, Compliance, Assessments etc
Implementation of P.G.A. 1972 submission of declaration, Claims etc.
Registration, Follow-ups Compliance, Inspection etc.
This is an important Act, as unless we submit all the applications exactly as per this rule we cannot run our business smoothly. We undertake the work of building plan approval from Director of Factories, Getting registration of the factory under factory Act, 1948. Leave records, half early & early returns, license follow-ups, periodical testing & inspection, test reports submission, compliance of visit remarks of factory inspector, safety precautions and its implementation, guidance to all other industrial and labour supports etc.
Maintaining the Register ‘A’ for computation of Allocable Surplus, Register ‘B’ for set on and set off for Allocable Surplus, Register ‘C’ for Bonus Payment & Form ‘D’ for annual return.
Maintenance of Register of Fines & Deductions, Register of Advances, Register of Overtime, Annual Return of deductions, Notice of date & Disbursement of wages, Compliance of Inspection Report etc.
Obtaining Registration Certificate, Maintenance of Register of Contractors in form VIII, Regarding Rate of Wages, Hours of work and Abstract of the Act etc. Submission of Annual Returns, Display of Notice.
Applicability & Form filling
Payroll processing is where all your Statutory compliances and Labour Law and Taxation knowledge is executed. It is a blend of HR and Accounts. It shows the financial statement of company as well as employee. All the HR are in messy situation in month end due to Payroll processing because there are many inter adjustment has to be done on manual basis. This is one thing were everybody is waiting on same day for same thing weather he is security guard or CEO.
Candidate will work for client where He/ She will undergo with real time situation faced by HR person at month end.