Module: PYIN | Molga: 40 | Currency: INR | Region: APAC
Field | Detail |
Statutory | EPF (12% EE + 12% ER), ESI (0.75%+3.25%), PT state-wise, TDS, Gratuity |
Tax | Progressive TDS 0-30%; New vs Old Tax Regime |
Key Feature | EPF/ESI & New/Old Tax Regime toggle |
Pay Frequency | Monthly |
Banks | SBI, HDFC, ICICI, Axis Bank |
India-Specific Configuration Highlights
Chapter 2: Indian Enterprise Structure
- Personnel Areas by state: MH (Maharashtra), KA (Karnataka), DL (Delhi), TN (Tamil Nadu)
- Professional Tax (PT): state-wise slab rates (MH: max INR 2500/year, KA: max INR 2400/year)
- ESI applicability: wages ≤ INR 21,000/month; define ESI establishment numbers
- Gratuity eligibility: 5+ years continuous service; 15 days salary per year formula
Chapter 4: Indian Payroll Schema
- Schema IN00: functions INTXD (TDS), INEPF (EPF), INESI (ESI), INPT (PT)
- New Tax Regime (2024-25): default regime, no exemptions/deductions
- Old Tax Regime: HRA exemption, LTA, 80C/80D investments, NPS 80CCD
- EPF calculation: 12% of Basic on earnings ≤ INR 15,000 (statutory ceiling)
- ESIC contribution: 0.75% EE + 3.25% ER on gross ≤ INR 21,000
Chapter 5.5: Indian Statutory Returns
- Form 24Q: quarterly TDS return (filing via TRACES)
- Form 16: annual TDS certificate (Part A from TRACES + Part B)
- EPF ECR (Electronic Challan cum Return): monthly via EPFO portal
- ESI return: monthly via ESIC portal
- Form 12BB: employee investment declaration for provisional TDS
- PT returns: state-specific monthly/quarterly/annual filings
Annual Updates
- Budget changes: tax slabs, 80C limits, HRA rules
- EPF wage ceiling revision notification
- State Professional Tax slab updates