What’s cooking in the Vetan lab? Have a look!

Dear all,?

We hope that you had a fantastic time last weekend. Now back to work, we decided to talk about the latest updates in Vetan and what employers can look forward to for smoother HR operations.?

There are many interesting updates on Vetan and a couple of news stories too. But we will share them at the right time.?

For this edition of Mool Mantra, we are covering some of the daunting tasks of HR and admin departments and how Vetan helps to ease them out.

Smoother Employee? Onboarding Module

Onboarding new employees is often a daunting HR task mainly if the numbers are high. For example, welcoming fresh college batches or hiring for a new department.

Hence, an Employee Joining Module must be designed to streamline and automate the onboarding process. Vetan ensures a smooth transition into the organization by providing a structured framework for tasks including but not limited to document uploads, ID proofs, personal details, CTC and tax details, benefits enrolment, emergency contact, and more.

Our product supports hassle-free, bulk uploads for multiple employee data points, saving HR and admin teams significant time and energy.

Additionally, the tax calculations are proper regardless of the new candidate (s) 's date of joining.

Old Vs New Tax Regime

India's Income Tax Act offers two tax regimes: the old regime and the new regime. Salaried individuals can choose from these regimes depending on what best suits their financial situation.

In other words, the accounts team needs to track each individual's tax liabilities based on their chosen regime. This is much work to compute and ensure that calculations are correct.

Vetan’s built-in calculations for old and new tax regimes make the entire process of calculation fast and error-free.?

Form 12B Support

Form 12B is a mandatory document to be submitted to employers when an individual joins a new organization in the middle of the year. This form contains important tax information including PAN details, salary details, deductions etc.

Submitting Form12B helps employers by making it easier for accurate TDS deductions.

Vetan has a dedicated, structured section for Form 12B so it’s easier for HR admins to track them separately for each new joinee and easily approve or reject submitted documents.

Full & Final (F&F) Settlement

Full and Final Settlements are one of the exit formalities that requires an employer to pay the employee to their last date. The components of F&F include unpaid salaries, gratuity, EFP and additional incentives if applicable.?

Vetan ensures that employee offboarding happens as seamlessly as onboarding with all the legal mandates carried out just as easily.?

In summary, Vetan is a full-suite HRMS and evolving to cover all cases related to HR ops, salary personalization, and tax optimization elements.?

Want to onboard Vetan? Reach us at [email protected] for more information or a quick demo. We will see you next time! Stay tuned!