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As discussed in the previous article, the Lok sabha has recently passed 3 new labour law codes. In this article, we will understand the consequences of the said amendments on the workers and the employers and try to understand a way forward from here.
The bill was introduced in September 2019 and passed as a law on 28th September 2020. The amended laws are the industrial code, Social security code, and Occupational safety health & working conditions code.
Let’s discuss a few apparent reasons to ditch the traditional payroll software/methods and switch to the cloud-based approach.
Managing money matters has never been easy. Any business, be it large scale or small business, cannot run efficiently if the flow of money is not appropriate or smooth. Erroneous expense management is one of the primary key areas that can screw up things for any stakeholder/businessman.
Payroll processing refers to the process wherein the total payment to be made to the employees of the organization needs to be calculated and the same has to be paid to the credit of employee’s bank account on or before the salary processing date.
When expense claims are reported manually then a number of issues crop up, that leads to loss of time and adds up to the cost of the company.
For every organization, employees are considered as its main resources. In an organization if the employees are happy, then there are better chances of those organizations to prosper.
Every organization, irrespective of size, requires a proper leave management system to be put in place.