Salary Cut Off Date - Best Practices

Hi,

which is the ideal salary pay cycle.

  1. Should it be 24th previous month to 25th current month OR from 26th of the previous month to 25th of the current month?
  2. What are the advantages?
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An ideal pay cycle depends on the time taken by the team to process it without any hassles and closing the Attendance cycle.

Example a company with less than 1000 employees has to pay on or before 7th and above 1000 can pay on 10th.

Now considering this you need to choose.

But in general companies do on 20th or 25th which is the major cut off dates.

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Dear All,

Please advise if greytHR has the option to process the payroll from the 25th to the 25th instead of the 1st to the 31st.

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Hi,

Yes greythr can assist you with that, just raise a ticket.

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Yes, you can customize it, we do have 26th - 25th cycle.

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Yes you can do. Payroll/Main/overview/cutoff date you can change it cut off date from and to

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Yes they have

Regards

Sundar Rajan J

General Manager - HR

Mobile : +91 9943006544

E.mail : sundarrajanj@rajshreesugars.com

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Dear Members,

Thank you for the quick detailed reply.

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Dear Team,

Once we proceed with the payroll from 25 to 24 instead of 1 to 31, kindly advise how the ESI and EPF calculations will be performed as the filing has to be done for the dates 1 to 31 of each month.

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Hey @hr_diligencebio ,

Computation will be as prescribed under the corresponding Acts. One needs to read and understand or we may suggest you consult your labor law consultant and do the needful for compliance.

Hope this helps.

Community Manager.

Noted your comments.

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