Lesson
Items might be products that you buy from suppliers and resell to clients or they can be services that you provide and receive payment for. Step 1: Click on the “ Gear Icon” present on the top side of the right corner of the page and then select “Organisation Profile”. Step 1: Visit the Zoho website (https://www.zoho.com/) and click on the “Sign in” button on the homepage. While the websites used by each state to accept LWF payments online vary, the general payment process remains the same: In general, employees may use their contribution to the LWF for the following uses: Facilities for children's education. Healthcare services for employees and their families. Transportation amenities for getting to work. Loan housing facilities for building homes at discounted prices. Create side businesses and home industries for women and jobless people. Vocational instruction. Feed kids’ wholesome food. States have different requirements for the paperwork needed to register a labour welfare fund. But there are certain basic documents that must be submitted irrespective of the state in which the application is being filed. Three classifications can be applied to these documents:- The Labour Welfare Fund (LWF) is an Indian statutory contributing fund that is managed by the respective state government agencies. The frequency and amount of the LWF contribution are set by the state Labour Welfare Board. States vary in this regard. Employers and employees both make contributions to the LWF on behalf of their employees. The LWF receives an annual contribution from some states and a half-yearly contribution from others. A pay slip is a document that provides information about an employee's pay. These particulars cover the base salary, incentives, deductions, and other information that the company provides to the worker on a monthly basis. The same is frequently provided to the staff in soft copy, and occasionally hard copies are also. Step 1: The employer first calculates the employee's wage for the applicable fiscal year. This should include base pay, dearness allowance, company-granted perks, additional employer-granted allowances (such as meal coupons, LTA, or HRA), EPF contributions, bonuses, commissions, gratuities, and any remuneration from a prior employment, among other things. Bonus Pay is extra money an employee receives in addition to their base pay. Many organisations utilise it to honour staff members or a team that has accomplished noteworthy objectives. In order to boost staff morale, motivation, and output, bonus pay is also provided. Your yearly income is made up of both your base pay and any bonus opportunities. You must so comprehend how they are related to one another.