Payroll
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The document discusses payroll outsourcing and the services provided by Talent Centric, an HR consulting company. It outlines Talent Centric's internal and external payroll services and the benefits of outsourcing payroll such as improved compliance, time savings, and lower long term costs. It also provides details about payroll functions including employee data, salary grades, leaves, increments, loans, taxes, allowances, benefits, and reports.
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Payroll
- 2. Talent Centric is an HR consultancy company that hosts multiple solutions relating to individual performance and corporate structure. Our definition is to customer focused, includes the role of catering to corporate clients and individual professionals. Our commitment is to deliver the highest standards in each area of business.
- 4. Of Outsourcing Payroll •Improved compliance and accuracy •Time savings •Lower long term costs for some businesses
- 5. Office Divisions • IT •Human Resource •Marketing •Finance •Operation
- 6. Master Data •Name •Code •Gender •Salary Grade •Provident Fund •Gratuity •Leave •Loan & Advance
- 7. Salary Grade •Ascending to Descending or vice versa •Salary items: basic leave bonus conveyance house rent medical
- 9. Increment •Varies on Percentage (%) •Varies on Responsibilities •Varies on Performance •Varies on Promotion
- 10. Loans •Office Loans •Bank Loans •Percentage in bank and in company •Advance Payments •Provident Fund Loans and its interest and duration
- 11. Provident Fund •Proportions of company and personal salary •Basic Salary: 5% to 10%
- 12. Gratuity •Gratuity General policy • Policy •Calculation of Gratuity (½ or 1)*Average month salary*completed number of years
- 14. Total Income Tax Percentage Amount of Tax Up to 250,000bdt 0 0 Up to 400,000bdt 10% 40,000bdt Up to 500,000bdt 15% 75,000bdt Up to 600,000bdt 20% 120,000bdt Up to 30,00,000bdt 25% 7,50,000bdt Rest of 250,000bdt 30% 75,000bdt 50,00,000bdt 30% 10,60,000bdt Income Tax for Male
- 15. Total Income Tax Percentage Amount of Tax Up to 300,000bdt 0 0 Up to 400,000bdt 10% 40,000bdt Up to 500,000bdt 15% 75,000bdt Up to 600,000bdt 20% 120,000bdt Up to 30,00,000bdt 25% 7,50,000bdt Rest of 200,000bdt 30% 60,000bdt 50,00,000bdt 30% 10,45,000bdt Income Tax for Female
- 16. Basic Salary Tax Full Amount Payable Special Salary Whole Amount Payable for Tax Transportation allowance Not Payable up to 30,000BDT Annually House Rent 50% of Basic Salary/25000BDT Medical Allowance 10% of Basic/Annually 120,000BDT Overtime Whole Amount Payable for Tax Bonus Whole Amount Payable for Tax Leave Allowance Whole Amount Payable for Tax Flat/quarter 25% of Basic Salary Schedule Showing Details of Income
- 17. Insurance allowance Whole Amount Payable for Tax Insurance Allowance Interest Rate 1/3rd of Basic Salary/14.5% fixed by the Government Transportation Facility 5% of Basic Salary/60,000BDT Annually (Greater) Entertainment Allowance Whole Amount Payable for Tax Provident Fund Whole Amount Payable for Tax Dearness Allowance Tax Full Amount Payable Servant Allowance Whole Amount Payable for Tax Honorarium Whole Amount Payable for Tax Continuation…….
- 18. Fringe Benefits •Retirement Plan •Education Assistance •Mobile •Laptop •Company Stock
- 19. Reports •Employees: Attendance List Total Salary View Monthly Salary View Income Tax List Leave List •Grade Salary •Bank Advice Reports •Current Month Reports •Monthly Department Reports
- 20. Continuation •All Employee Reports •Shift Wise Salary Reports •Single Employee Reports •Company Pay Slip Reports •Single Employee Pay Slip Reports •Jobs Nature Reports •Employee Summary Reports •PF Enquiry •Loan Enquiry •Leave Encashment