A digital round-up of everything payroll in 2020 - Payroll - Zoho
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Payroll A digital round-up of everything payroll in 2020
02
The revolution that is remote work
and how Zoho embraced change
Call it a paradigm shift in How Zoho showed the way to that generated huge results for mobile apps for communicating,
work-life or the new way of embrace change: customers. Little additions like collaborating, and staying
work, remote work is here to At Zoho, our approach is remote-check ins, real-time productive. All this for free, to
stay, and the events of the last always customer-first, with status monitoring, and support the small business
year have only accelerated the continuous innovation and an connected messaging helped customers who have always
demand for flexibility in where R&D focus. As more and more employees & employers continue stood by us.
and how people work. When organisations began to adapt to their work without a hitch.
the pandemic struck, everyday remote work, they also saw the Uninterrupted payroll
Playing for a larger cause The hard work put in by
communication, attendance need for a comprehensive
check-in, proof collection, and The Small Business Emergency employers and employees alike
many other previously simple Subscription Assistance Program during each month culminates
their multi-dimensional business
practices had to be changed. waived subscription fees and in one process: payroll. Free
needs. While Zoho was built for
For businesses to thrive under provided extended support for
remote work ages ago, the
the pandemic, they had to millions of small businesses. meant thousands of small
current landscape is completely
adapt quickly, and Zoho stood businesses successfully ran
Sustained productivity payroll to support their
by those who weathered the tech culture allowed us to keep
The world was introduced to
storm. adapting, adding little employees and maintain their
the most comprehensive suite
enhancements to the product compliance even during
of interconnected web and
tumultuous times.
Spearheading change: Since 2020, 81% of the employees in different organisations have been
working remotely, and we at Zoho are well poised to support them through and through.
“It took us just a week to transition to a remote setup. And a huge credit for
this goes to Zoho and it's offerings. We are delighted that India has a
world-class company like Zoho and we are keenly waiting to see what more
does it have to offer."
Amit Kapur, Managing Promoter, Vedatya Institute
03
The other side of remote work
While there is plenty of opportunity for business growth, working hours have also drastically increased for the employees. HRs
across the globe are turning to a classic team building exercise to keep their employees fresh, and avoid burn out.
The Remote Work Bingo
Joked about how Had a meeting
Actually saw a Said “lol” and interrupted by a
co-worker in “Can you hear me?” long your meant it
“commute” is pet or a family
person member
Wore Pajama Spotted a pet in the Did work for home
bottoms to a video background of a instead of work Drank a glass of Took a quick stroll
meeting video meeting from home water to stretch your legs
“Sorry,I was on
Sent a gift to a Took a coffee Did eye strain relief Blamed the mute, when you
co-worker break… or many exercises internet were running
around.”
Set up “working
“Can everyone see Used an emoji in an Worked from a
hours” Took a workation
my screen” email coffee shop
#worklifebalance
Subscribed to Met someone other
Created a workday Took a typing
every OTT platform Did chair yoga than a family
playlist speed test for fun
under the roof member
Source: Museumhack.com
Some more jargons should you recreate it in your workplace
Setting up a remote office at home Attending a wedding virtually and Apologising for your neighbour’s
working alongside dog barks
Dozing off during a meeting
Virtual pizza parties/coffee breaks Realizing at 10pm that you never
Eating while on a meeting with colleagues went outside today
Talking for an hour without realising Kids stealing the show during a Fear of kids pouring water on your
you're on mute presentation laptop
Talking without realising your Awkward silence in a con-call Gaming with colleagues
internet gave up a while ago
Read-up on how to work better Cried over PUBG ban
from home
04
Feature Rewind : You asked, we delivered!
In this, termination notes, a may forget to submit their
Declaration by the Receiver, & investment declarations or
custom fields can be added. proofs on time in the daily
rush. You can help them by
SALARY REVISION sending alerts or reminder
when the time to submit
Bulk Salary Revision
proofs has come.
Approval: Zoho Payroll allows
you to process multiple salary
Rewinding the clock
revisions at once, simply by REPORTS
checking the boxes next to the Salary Revision: This report
employee name and clicking provides the details of all
Approve, Reject, or Process salary revisions implemented
Two years ago, we set out with using all applicable
Later. for your employees, including
the goal of making payroll easier components if PF wage is less
than ₹15,000 after loss of pay, the breakdown of the earnings
for every one of our customers.
Given that payroll is a vast field, so that your employee LOANS and deductions with the
there is no one-size-fits-all continues to enjoy the benefit Pause Loan Instalment: This
of EPF later on with a feature allows you to provide a revision. Along with this, you
solution. We see numerous use
substantial contribution. respite to an employee's loan can also view the history of
cases, each more complex than
repayments. You can resume salary revisions made for
the last, and so there is always
Pro-rata of pre-tax employees over the course of
room to improve. This past year, them at any desired time.
deductions: Pre-tax deductions their employment in your
we were presented with various Loan Repayment Override:
will be calculated factoring in the organisation. This can be a
challenges & enhancement This newly introduced option
loss of pay in a particular month. good way to measure
requests from our customers, helps skip or override loan
performance-compensation
and our development team put New Tax Regulations: repayments for employees
ratio of your employees.
in their heart and soul to make Following the tax structure during payroll processing.
Zoho Payroll the best solution changes announced in the Employee Termination: We
for the customers' needs. Here's Union Budget 2020, we've Loan Opening Balance: introduced the Employee
a look at some of the feature made provisions for Zoho Payroll introduced loan Termination report, where you
highlights of our second year. employees to choose either opening balance and can find the list of all the
the New Regime or the Old perquisite rate balance employees who have resigned
Regime for calculating their options to record prior payroll or been let go in the past year.
EMPLOYEE PAY
taxes. loans. With this, you can
Selective Payments: This is continue loan repayments Variable Pay Earnings: The
one of our major updates of without a hitch after moving to newly added Variable Pay
CUSTOM FIELDS
the year. If you are following a new payroll software. Earnings report helps you
Custom fields: Another major analyse payroll expenses
you can use this option to pay a update of the year. We incurred for bonus pay,
introduced custom fields for EMPLOYEE-CENTRIC
select number of people at a gratuity, and other non-regular
the Employee module to
UPDATES
time, and pay the rest later. payroll earnings in a fiscal year.
enable the collection of Banner Notifications: With the
Vehicle Perquisite Calculation: new Banner Notification Arrears PF report: Any PF that
additional information about
This option is useful for feature, you can convey is credited as arrears to
employees such as Aadhaar
organisations that want to important messages to your employees after a salary
number, marital status, etc.
calculate vehicle perquisite for employees through the revision will be captured in the
These fields can be synced
company-provided cars based Employee Self-Service portal. new Arrears PF report.
with the fields in Zoho People.
on engine capacity and the They can also be displayed in Benefits Summary: The
driver expenses. The perquisite the payslips wherever Benefits Summary tab under
would automatically be necessary. Salary Details in the ESS portal
included in the employee
helps keep track of the statutory
wage calculation.
PAYSLIPS component contributions
Payslips: We added another made by your employees.
STATUTORY UPDATES
template: the Full and Final
EPF Calcuation: We've added Settlement payslip to send to Alerts & reminders for IT
an option to calculate EPF employees who've been let go. declaration & POI: Employees05
A recap of payroll compliance in 2020
2020 was a year of frequent Statutory provisions: EPF contribution submission of insurance
changes to payroll compliance, Employee Provident Fund (EPF) percentages were slashed contribution.
to help India tackle a new and from the standard 12% to 10%.
The Government
challenging situation. Several Income tax reliefs
contributed to the Employees were given
relief measures on statutory and Deadlines were extended
employer and employee easier access to their EPF
regulatory compliance were at no extra charge for
portions of EPF for selected corpus. The pandemic
initiated across various sectors. submission of income tax
organisations from March advance scheme allowed
These initiatives were returns.
2020 till May 2020. employees to withdraw up
particularly focused in the areas Interest rates were reduced
The EPF contribution to 75% of their savings.
of Income Tax, EPF, ESI, GST, and interest was eliminated
Customs & Central Excise, scheme was extended for
Employee State Insurance on late payments of TDS
three more months until
Scheme (ESIC) and other taxes.
Bankruptcy Code (IBC), August 2020.
Deadlines were relaxed for
Fisheries, and banking services
and commerce. From extended
tax deadlines to revised
statutory norms, here's a brief
rundown of some of the 52 lakh 13.3k crore Over 6 crore
important changes in the Covid-19 withdrawal disbursed for employees employees were allowed to
payroll domain that helped requests were settled by EPFO withdraw their EPF savings
millions of people across the
Source: The Economic Times , labour.gov.in
country.
Evolution of the payroll landscape in 2020
Payroll processing is now more In the past year, however, there Tax information can be The recent introduction of the
complex than ever. Factoring has been a meteoric rise in easily collected via ESS paperless Union Budget 2021
in taxes, deductions and payroll digitization. During the portals is also a testament to the
ever-changing regulations pandemic, payroll Statutory changes are changing times. It is fair to say
requires a substantial amount professionals working from immediately implemented that soon, manual processing
of time and energy. A recent home to manually process of payroll and other financial
study shows that HR personnel payrolls faced two problems: Hence, digitization of the business functions will be a
spend about 80% of their work payroll process became an thing of the past.
Collating required payroll
hours gathering data to essential part of paying
information from
calculate salaries and taxes when employees on time and “What we love about using
employees virtually
processing payrolls manually. operating a business during the product is that everytime
With the recent development of Taking into account all the the pandemic. new tax reforms are
mobile technology & cloud relief measures on various announced, the changes
computing, payroll technology statutory and regulatory The Government of India also happen immediately whereas
compliance matters heavily championed the our auditors take some time
can easily be catered to
announced by the adoption of technology in to apply them.”
corporations as well as small
businesses. It also no longer Government business—as an example, it - Priyanka G,
requires an esoteric team to digitized the EPFO and income Director | HR,
Payroll software solved these tax filing. The process of Beez Innovation Labs Pvt. Ltd.
work on it, as it is largely
problems easily, as: registration in EPFO is now
scalable, time-saving, and
customer-centered. These Salary calculations are completely online, and as of
factors contributed to the rise performed quickly and August 31, 2020, 9.4 crore
in payroll software adoption automatically people had registered to file
over the years. income tax online—the highest
number in any year to date.06
We love that you Love Zoho Payroll
Featured Customer
Leegality
Leegality, a cloud-based SaaS involved in this process, they
company in India, is on its way turned to Zoho Payroll. They
to becoming a household were impressed with the
name in the business of payment methods, the
automating document comprehensive dashboards,
signing. As an eSign, e-Stamp and the self-service portals for
and document workflow their employees. The seamless
platform, Leegality allows integration between Zoho
businesses to sign and collect Payroll, Zoho People (HR) and
signatures on their documents Zoho Books (accounting) was We appreciate your laurels for
completely digitally while also an added advantage. Zoho's
complying with the relevant data security and privacy our support team
stamping laws of India. Their policy, which is on par with
global best practices, served
I have been a Zoho Payroll Zoho Payroll is extremely
automated signing and as the deciding factor in their
user since it was launched. The
identification features as well move to Zoho Payroll.
moment I got the feel of the services. We appreciate the
as a fully compliant digital Leegality took just 5 days for
product's UI, I had no second responsiveness and
stamping solution which is the onboarding process and
thoughts. It is a simple solution professionalism from their
found in no other document since then has saved 10 hours
that can take care of itself and support team. With their help,
e-sign platform. Since per week on average in
did not require our conscious we've been running our payroll
Leegality is a SaaS company, processing payroll. The ICICI
operations successfully for all
they share in Zoho's ideals and direct deposit payment
team helped us get onboarded our employees in three
use several applications in the method has made salary
in just a week and then there
Zoho One suite to automate crediting a smooth, one-click
was no turning back. It's been January 2020. We will be
most of their tasks. This has payment process. The
over a year now and we are looking forward to an excellent
saved them a substantial company's employees also
happy to have chosen Zoho business relationship.
amount of time and helped benefit, with complete
Payroll for our HR operations.
their business run smoothly. visibility and understanding of
their earnings, taxes, and Sivaram Parameswaran, Betty Teney
We found Zoho to be a deductions in their payslips. Co-founder & Chief Creator, HR Coordinator,
natural fit as we ourselves are purpleslate Eximp International
a SaaS company. The We would rate the
advantages of a customer support team a 5
cloud-based solution are out of 5 because the issue
numerous: instant use with resolution has been
I have been a loyal customer Using Zoho Payroll has
minimal implementation,
of Zoho Payroll since its launch eliminated our requirement for
constant updates & features
and it's grown into a fantastic a full-time accountant. The
and immense flexibility.
Going forward, Leegality plans product. The process is so application is extremely
to continue developing their smooth that I can work with my intuitive. The help desk needs
While processing their payroll
product & increasing eyes closed. TDS, EPF special mention for its
manually, Leegality faced
distribution. They believe Zoho calculation...it's all in here. To professional and non-intrusive
challenging & time-consuming
products would play a critical top it all, the customer support approach. I will happily give it a
tasks such as collecting
role in automating every is just excellent. It's a complete five-star rating and highly
investment proofs, computing
aspect of their business to package. recommend it.
ensure smooth operations and
structures, and making Gowtham Raj, Venkat Ramana Vallabhajoysula,
a great interface for their
individual payments. In an Director & CEO, Founder and CEO,
employees.
Tart Labs True Blue Asset Services Pvt. Ltd07
Democratizing payroll tech: Free payroll
software for emerging businesses
2020 was an unprecedented Considering this, we at Zoho proofs, and reimbursement
year, when the world was Payroll wanted to bridge that features that enable claims
made acutely aware of the divide and democratize payroll businesses to fulfill all their
crucial role that technology for emerging businesses, to payroll processing needs,
and tracking of loans until
plays in everyday business help them take on payroll such as:
closure
operations. Businesses had to challenges using technology.
Automatic payroll
look for tools that would help We also believe that when
calculation which includes Sign up for the free payroll
them conduct operations growing companies adopt
salary, pre- and post-tax software today and explore
without a hitch while operating technology from the start, they
deductions, and taxes. the features!
from homes and
Direct deposit of employees' www.zoho.com/in/payroll/signup/
manage payroll as they
time when processing payrolls expand. And that's how we salaries through ICICI Bank
and paying employees came up with the free version
Accurate income tax
promptly was vital, some small of Zoho Payroll—an absolutely In case you have any
calculation
businesses had a hard time free, comprehensive payroll questions regarding the Free
accessing the kind of powerful software solution for An employee self-service Edition, write to
software that has been making businesses with 10 or less portal with which support@zohopayroll.com.
payroll processing employees. employees can view We will get back to you as
manageable for large payslips and submit soon as possible to answer
corporations for decades. investment details, relevant your questions.
Bringing top-notch payroll technology
across verticals
IT Consulting & Travel Construction Design Agencies
Services Business
Food & Beverages Freelancers Healthcare Non-Profits
E-learning Video Streaming Software Marketing08
Bid goodbye to long meetings, tons of
paperwork, and exhaustive calculations.
Switch to the quick, accurate, and
hassle-free payroll experience that
Visit us at Download the App
www.zoho.com/payroll
Contact Us
Sales - sales@zohocorp.com
Support - support@zohopayroll.com
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We're very excited to be sharing our second
anniversary with you! We're feeling a bit nostalgic
recounting our origin story, and we would love to
hear yours as well. Come, share how you began
your journey with us. We have happy surprises for
all the stories.
To participate in the contest, visit:
www.zoho.com/lp/payroll/payroll-contest-2021/You can also read
