Glossary

A comprehensive reference for payroll and HR terminology used in INDPayroll:

Term Definition
DOJ Date of Joining of an employee in the organization.
CTC Cost to Company: Total salary + benefits provided to the employee.
HRA House Rent Allowance: Component of salary for accommodation expenses.
PF Provident Fund: Employee & employer contribution for retirement benefits.
ESI Employee State Insurance: Social security scheme for health and medical benefits.
PT Professional Tax: State-level tax applicable on salary.
TDS Tax Deducted at Source: Income tax deducted by employer and remitted to government.
OT Overtime Payment: Additional pay for hours worked beyond standard hours.
Salary Template Predefined structure for earnings and deductions assigned to employees.
Payroll Period The specific time frame for which payroll is processed (monthly/bi-monthly).
Audit Trail Log of all system changes and modifications for compliance and traceability.
NEFT/RTGS Bank transfer mechanisms for salary disbursement.

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Subcategory: EPFO

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Subcategory: Company Setup

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