Administration Manual - B.E.S.T. Undertaking.

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Sr.STK, recoveries of installments for Postal
Recurring Deposits etc.
Outputs– Payment details for ECS/Cheque, Account
code wise summaries, payroll codewise
summary, various code wise listings, various
transactions files for updating the Provident
Fund master file, Income Tax master file,
RD Accounts file etc.
Payroll data is used for preparing various type of
reports required by the management, for one time
payments, for fixing of grade pays and calculation of
arrears payments at the time of grade revision. The
annual increments to employee/’B’ Grade Officers
are generated automatically from the payroll master
file every month.
Processing of postal recurring deposits is done. The
transactions for monthly installment’s recovery
through payroll are prepared. Various reports and
maturity lists are prepared and sent to the PF
Department.
4.1.2.1.2 Income Tax System –
This system is allied system of the Payroll System.
This system was developed in the year 1984.
Modification to this system are done every year to
incorporate the Income Tax rules passed in the
Central Budget. In this system yearly Income Tax
Master files are created. These files are updated
from the data of taxable income and other details like
Provident Fund recoveries, L.T.A. payments, Leave
Encashment details, Housing Loan, Housing Interest,
Medical reimbursement, income tax recovered, etc.
Every month the taxable income of each employee is
assessed and the Income Tax plus education (CESS)
surcharge due is calculated and considering the
income tax already recovered, the transaction file for
recovery of income tax installment is created for the
next month’s payroll jobs. In the beginning of
financial year and during the financial year, the
proposals of investment are processed for giving
rebates in the Income Tax amount under various
sections.
In the month of November, Income Tax slips to the
employees are processed, printed and distributed for
the tax planning.
Before processing of the payroll jobs of February
month, the verified investments for tax planning done
for the financial year are processed and final Income
Tax, education CESS and Surcharge payable, if any,
are calculated and the final installment of the Income
Tax educationers and surcharge payable, if any is
calculated and the final installment of the income tax