Statutory information, Professional Tax, Labor Welfare Fund and Minimum wages

Statutory information, Professional Tax, Labor Welfare Fund and Minimum wages

Menu Path: Setup > Payroll Setup> Company Setup
Accessible to : Application Administrator

1. Statutory Information

In this tab you can update PAN number, PF number, ESI number , GST number and TAN number for your companies. 


Deductor details
You can also update the deductor details which are needed for 24Q preparation. Click on "Deductor" action button.


Responsible Person details

Click on drop down next to Deductor action button and click on "Responsible Person" to fill up the details shown in the form below. 


2. Professional Tax

Professional tax can be updated in this tab. PT number is captured for each state and for some states there are PT registrations at a corporation level which can be captured as shown below.


3. Labor Welfare Fund

In Kerala there are two welfare funds
1. Kerala Shops and Commercial Establishment Worker Welfare Fund
2. Kerala Labor Welfare Fund
Refer to the article on Labor Welfare Fund Deductions for more details. In this tab you can map the relevant welfare scheme to the office location. Without this mapping you can process payroll for this location if LWF is activated.


4. Minimum Wages

If Statutory Bonus feature is in use only then the tab for Minimum Wages will be visible. This is used to capture minimum wage for a state. Payment rate as per bonus act is between 8.33% to 20% of INR 7000 or Minimum wage for schedule employment fixed by government, which ever is higher.