BrownBag Newsletter

BrownBag Newsletter \"As per the Poll results on our Slack channels, Thriving Thursday with HR conducted a BrownBag Session on Understanding payslip\" The HR team had brought our Payroll Supervisor Mamatha Kurupati for a direct interaction with the COE employees to answer their questions on payroll and retirals. Employees were given four options on slack channels :- hydcoe-announcement s & vizagcoe-announcements and were asked to vote any of the two topics on which they required deeper information. Options being :- 1) Overtime and night shift allowance 2) Understanding Payslip 3) Provident Fund and ESIC Benefits 4) Payroll Timelines We had received the highest number of votes for \"Understanding payslip\" and the session was scheduled on 25th March as per the commitment.

Thursday, April 1, 2021 \"More than 200+ Employees attended this session from Hyderabad & Vizag COE \" \"Questions asked on Slido has been answered below. \" Q1. On what rate will Uber Credits be taxed on the payslip? If it is a flat percentage despite the usage of the credits, is there a way to opt out? There is no way to opt out uber credits. If employee do not utilised credits then the amount will not be reported in payroll. Uber credit tax will be calculated based on the employee Tax slab rate. Q2.There is a different amount of income tax being deducted at source and we are unsure of the actual payout post tax month on month. Any way to know in advance? Monthly tax will differ based on Variable earnings ( Note: Regular Tax can be viewed in Income Tax Computation sheet \" Monthly Balance Tax. Q3. for january, no uber credit deduction was there but from last two months credits are deducted from payslip? Only the Uber credit usage will be reported in payroll , If you have not used uber credits in Dec'2020 then Jan'2021 uber credit will be zero.

Thursday, April 1, 2021 Q4. If an employee leaves the organization, what would Q10. What is the procedure and policies that apply to be the timelines that the Full and Final settlements and avail those Leave Travel allowance upto 2,00,000 ? Is it if there are any disputes how should one raise it ? that company gives us in advance or get it reimbursed? The final payments will be processed in the following month of employee termination date. If any queries, LTA is a flexi option, employee has to allocate this employee can reach out to [email protected] component from salary to avail the LTA exemption by Q5. Are Systematic Investment Plans eligible for providing the LTA bills subject to the IT rules investment proof? Q11. Considering some of us are going to complete 5 years in the organization, does one apply for gratuity Only Specific tax saving SIP plans will be considered for proactively, raise a Jira, or paid automatically? tax exemption Gratuity will be paid at the time of employee leaving the company Q6. As mentioned by Mamatha, would like to know if the Uber credits visible in the payslip is only the Uber credit Q12. What is the value of each leave while encashing? that has been used? Leave encashment formula is : Annual salary/12/26*No.of Yes, we report only uber credits that has been used annual leave days. Q7. What is the remote work pay component in the Q13. how do we enroll for ESIC? payslip? ESI will be allocated based on Employee Base pay , if the employee base pay is less than 21,000/- then employee Work from Home Stipend called as Remote work pay. will be eligible for ESI Q8.What would be the calculation(formula) considered Q14. Is Gratuity eligible after 4 years 6 Months or 5 years? for an Overtime payout ? Overtime formula is: Annual salary/12/calendar An employee has to work for a company for 4 years 190 days/8*No.of OT hours*2 days to eligible for gratuity payment. Q9. What all investments are eligible under Investment Q15. Are Systematic Investment Plans eligible for proofs? investment proof? Only Specific tax saving SIP plans will be considered for Please refer IPSF guidelines in ESS portal. Path to access tax exemption. IPSF guide: Launch workday in onelogin - Select \"\"Pay\"\" icon ->India payroll-Excelity ->Click on your profile in ESS portal - Select year end - Click on IPSF guidelines.

Thursday, April 1, 2021 Q16.Can we reach out to our CA's for filing our IT returns and get back the deducted amount from the Jan, Feb and March pay? Yes, please consult your CA and file your tax returns. If there is any excess deduction IT department will pay back to your account directly Q17. why the PF contribution is differ from month to month? PF contribution deducted based on the earned Basic Q18. My Uber credit deduction in Jan '21 was 1800 in Feb 3360 and in March 3573. On what basis does this increase or decrease? Shouldn't it be standard 3000.It is not standard. The Uber credit will change based on your credit usage in the particular month. Q19. Even after submitting the investment proofs, Tax got deducted. What can be done here? Tax will deduct based on the employee taxable income and tax slab. Please reach out your CA for applying for tax returns. Q20.Do the employee get remote work pay every month? No it's one Time payment. Q21. If a person works all 2 quarters (6 months), they are still not eligible for bonus if they do not work until the pay out date. When was this policy changed? Please reach out to People ops team : [email protected] Q22. How do i change my bank account in UNI PF account? If you want to update KYC details in EPFO portal, please refer below document available in teamdot page.