PayWheel takes care of the statutory compliance requirements state-wise and at the national level as well. PayWheel generates instant summaries and government-compliant reporting of Income Taxes, Employee Provident Fund (EPF), Employees’ State Insurance (ESIC), and more.
Indian Government Compliance
PayWheel conforms to the rigorous regulations & labour laws set by the Indian Government.
PayWheel generates an instant summary of your Employee Provident Fund (EPF), Employee State Insurance (ESIC), and a wide range of State-wise Professional Tax (PT) Reports.
Automated Calculations & Deductions
Set your preferred deductions within the salary parameters, and PayWheel takes care of the rest, from calculations to deductions and report generation.
PayWheel has state-specific PT (professional tax) calculations integrated into the system. Enter your data, and PayWheel automatically deducts the state-wise PT and generates the necessary documentation for each state.
Input your TDS challan details into the PayWheel portal, and PayWheel will instantly display the taxable amount as well as the remaining balance liability.
Download income tax forms, such as 24Q, 12BA, and Form 16, from PayWheel to use as reference points for your company. Use these forms as essential tools to ensure payroll compliance and accuracy in financial reporting.
You can instantly generate the IT projection report just before filing your income tax returns. This report provides a comprehensive breakdown of taxes for each employee, ensuring a detailed understanding of the tax obligations associated with individual employees.
When configuring salary parameters, you can select PF and ESI amounts for the employee. PayWheel will automatically handle the calculations and deductions each month. You can also include additional parameters or deductions, such as gratuity and insurance.
Configure various components such as bonuses, leave encashment, reimbursement, and variable pay. You can add as many parameters as needed. Customize these categories to align with your organizational requirements, and PayWheel will automatically adjust tax deductions during computation to reflect changes.
PayWheel generates Form T, which includes a detailed breakdown of the salary, deductions, overtime worked, total duration of employment, and any other necessary components recorded and stored month-wise and year-wise for each and every employee.
PayWheel provides system generated Income tax reports such as Form 16, 24Q and 12BA, along with Employee Provident Fund (EPF), Employee State Insurance (ESIC), and a wide range of State-wise Professional Tax (PT) Reports.