Compensation And Benefits - Salary Benefits

Hi Seniors
Can you through some lights on how to work on compensation and benefits especially in the case of salary preparation.
We from the regional office sends the attendance details, leave details to the HO. I want to know after that how and what are the process to be followed.
How the salary amount is being transfrered in the bank is through DD/Cheque/Cash and how it is worked
Corporate salary account is with ICICI
No: of Staff: 250+
Location: Chennai
Regards
Narinder

You ICICI sales rep will help you on this, check with him
1. Cheque to be given
2. list of staff and their salary, staff ICICI account number to be given in an Excel sheet
3. soft and hard copy to be sent to ICICI bank
4. They ll come and collect it on door step.
Thanks
kanya

Dear Narinder,

I work at the HO of our company and carry out the further procedure that u r asking for. See the process is very simple. once u calculate the salary, u have to prepare a well formulated excell sheet which wen entered the no of days, can directly calculate the salary and show the amount for which cheque is to be prepared. Apart from des details, u can also keep a collumn giving the salary account details of all the employees. Once u r done with dis, the sheet will give u the amount to be deposited in salary acnt as well as that to be deposited in in the PF and ESIC acnt.

Accordingly, u can either prepare the total cheque giving total sum amount of salaries of all employees and along wid it, submit a copy of employee acount no and amount to be deposited. Or If in case u dnt hv salary acnts for ur employees, u can directly deposit their cheques in their existing acount, or by internet banking, directly transfer the amount in their acnt.

Apart from dis, the same procedure goes for the PF and ESIC acnt cheques for the employees.

Hope this helps u. If u have any further queries, feel free to ask.

Thanks & Regards,

Aditi Janrao.

Dear narinder :
compensation & benefits area of hr is complicated but not difficult...specially when u prepare salary
1. you have to compile the attendance at end of every month...and deduct employee leaves or late comings as per company rules..
2. then u have to deduct employee, loans advances, fines, as per company rules.
3. then deduct provident fund if applicable...
after this process u will hand over the salary sheets to Accounts deppt..they will deduct their taxes if applicable....
then if employee salary is less then 10000 give them in cash...
if salary above 10000 sent them in bank ....
Muhammad Waqas Mehboob
HR officer: 03024012776
Mughal Steel Industries