Net pay, also known as take-home salary, refers to the amount of money you, the employee, actually receive after all deductions are subtracted from your gross salary. It’s the final figure that hits your bank account and represents the money you have available for your monthly expenses and financial goals. This blog will be your […] The post What Is Net Pay – Meaning and How to Calculate Net Pay appeared first on Hivepayroll ..read more

Your salary might seem like a straightforward number, but there’s more to it than meets the eye. This blog post dives into the concept of gross salary, the foundation of your compensation package. We’ll explore what it is, the components that make it up, and how it’s calculated. By understanding your gross salary, you’ll gain […] The post Gross Salary – Definition, Components and Calculation appeared first on Hivepayroll ..read more

Have you ever wondered what happens to the money your employees earn between paychecks? That’s where accrued payroll comes in. It’s like a behind-the-scenes counter keeping track of all the salaries, wages, and bonuses your employees have accumulated during a pay period, even though they haven’t received the cash yet.  Understanding accrued payroll is crucial […] The post Accrued Payroll – What Is Definition, Components and Calculation appeared first on Hivepayroll ..read more

Ever wonder why you get paid on a specific day each month, or maybe twice a month? The answer lies in pay periods. These are the predetermined intervals that dictate how often you receive your paycheck. They play a crucial role in how employers manage their cash flow and how employees budget and plan their […] The post Pay Periods – What Meaning, Types, and How It Works appeared first on Hivepayroll ..read more

  Ever wondered why your paycheck seems smaller than your gross salary? A portion of your earnings goes towards various deductions, some of which impact your taxable income and others that are subtracted after taxes are withheld. This article dives into the world of after-tax deductions, explaining what they are, common examples you might encounter, […] The post What Is After Tax Deduction – Meaning and Examples appeared first on Hivepayroll ..read more

What Is Statutory Bonus in Salary? Hold on, wait a minute! Your introduction paints the statutory bonus in India with the wrong brush. It’s not just a reward for stellar performance, nor is it a bargaining chip for a better job. Buckle up, because we’re about to embark on a journey to unwrap the true […] The post What Is Statutory Bonus in Salary? appeared first on Hivepayroll ..read more

What Is Input Tax Credit (ITC) Under GST? The Goods and Services Tax (GST), introduced in 2017, transformed India’s indirect tax landscape. This single tax replaced a multitude of cascading taxes, simplifying compliance and boosting transparency. But did you know there’s a hidden gem within GST called the Input Tax Credit (ITC) that can significantly […] The post What Is Input Tax Credit (ITC) Under GST? appeared first on Hivepayroll ..read more

What Are Payroll Taxes in India? Ever wonder what gets deducted from your salary besides income tax? It’s called payroll tax, and it’s like a contribution towards various social benefits you and your fellow employees get in India. Think of it like a group investment you make through your salary for future security. Confused by […] The post What are Payroll taxes in India? appeared first on Hivepayroll ..read more

Which Is the Best Payroll Software in India Welcome to the world of payroll management in India! If you’ve ever navigated the intricate web of salary calculations, tax deductions, and compliance requirements for your employees, you know the challenges it brings. That’s where payroll software steps in – your digital ally in streamlining these tasks. […] The post Which Is the Best Payroll Software in India appeared first on Hivepayroll ..read more

What Is a Leave Management System? Benefits & Challenges A leave management system is a tool that helps organizations efficiently handle employee time off. When we, as employees, need to take a break from work for various reasons, such as personal or health-related matters, having a system in place makes the process smoother. Taking some […] The post What Is a Leave Management System? Benefits & Challenges appeared first on Hivepayroll ..read more