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HR Glossary

A comprehensive glossary built by PeopleStrong experts to help you navigate the world of work effortlessly.

A

AC No. 2

Account Number 2 (AC No. 2) refers to the Employer’s Provident Fund (EPF) administrative account used for remitting Employer’s Pension...
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AC No. 21

Account Number 21 (AC No. 21) refers to the Employer’s contribution towards the Employee Deposit Linked Insurance (EDLI) Scheme, managed...
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AC No. 22

Account Number 22 (AC No. 22) refers to the Employer’s administrative charges account under the EPF Scheme, 1952. It covers...
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Accrued Payroll

Accrued Payroll refers to the total amount of wages and related expenses that a company owes its employees for work...
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Advance PT

Advance Professional Tax (Advance PT) refers to the prepaid professional tax deposited by an employer or individual in advance for...
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API Integration

API Integration is the process of connecting two or more software applications through their Application Programming Interfaces (APIs) to enable...
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Arrears

Arrears refer to salary or payment amounts that are due for a past period but paid later due to revisions,...
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Arrears Deduction

Arrears Deduction refers to the recovery of excess payments made to an employee in a previous payroll cycle due to...
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Arrears Payment

Arrears Payment refers to the money that is owed to an employee for a previous period but paid later due...
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B

Bank Advice

Bank Advice is an official communication or document sent by an employer to its bank, instructing it to disburse employee...
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Bank Advisory

A Bank Advisory (or Bank Advice) is an instruction sent by the employer to the bank to process salary disbursements....
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Base Days

Base Days refer to the fixed or standardized number of days used as the denominator in salary and payroll calculations,...
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Basic Salary

Basic Salary is the foundational, fixed component of an employee’s salary—it’s the core amount paid for work performed, before adding...
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Basic Wages

Basic Wages refer to the fixed component of an employee’s salary that forms the basis for statutory contributions such as...
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Bonus

A Bonus is a monetary reward given by an employer to employees, either as a statutory entitlement or a discretionary...
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C

Cess

Cess is an additional tax imposed by the government on the total income tax payable, collected for a specific public...
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CII index in CLA perquisite

The CII Index, or Cost Inflation Index, is a numerical measure published annually by the Central Board of Direct Taxes...
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CLA

City Compensatory Allowance (CLA) is a fixed allowance paid to employees working in metropolitan or high-cost cities to offset the...
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Cloud Payroll

Cloud Payroll refers to a web-based payroll management system hosted on cloud servers that enables organizations to process employee salaries,...
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Conveyance Allowance

Conveyance Allowance is a financial benefit provided by employers to employees to cover the cost of commuting between their residence...
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Cost Center

A Cost Center is a specific department, function, or unit within an organization that incurs expenses but does not directly...
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Cost to Company (CTC)

Cost to Company (CTC) is the total annual expense a company incurs to employ an individual. More than just the...
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Credit Ratio

Credit Ratio in payroll refers to the percentage or distribution ratio of salary credits made to employees across departments, cost...
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CTC Reimbursement

CTC Reimbursement refers to the repayment of eligible expenses incurred by employees as part of their Cost to Company (CTC)...
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Cut-off Date

A Cut-off Date is a predetermined deadline in the payroll process by which all employee data—such as attendance, hours worked,...
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D

DA (Dearness Allowance)

Dearness Allowance (DA) is a salary component provided primarily to government employees, public sector workers, and pensioners to offset the...
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DBF

A DBF (Database File) is a structured digital file format used by payroll and HR systems to store and transfer...
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Deduction

A Deduction is an amount subtracted from an employee’s gross salary to arrive at net payable salary. Deductions can be...
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Director gross income

Director Gross Income refers to the total earnings of a company director, including salary, sitting fees, commissions, and perquisites. It...
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E

EDLI (Employee Deposit Linked Insurance)

Employees Deposit Linked Insurance (EDLI) is a government-backed life insurance scheme designed to provide financial security to employees in the...
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EPF (Employees' Provident Fund)

Employees’ Provident Fund (EPF) is the core component of the Provident Fund scheme managed by the Employees’ Provident Fund Organisation...
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EPF/PF (Employee Provident Fund)

Employee Provident Fund (EPF), commonly known as Provident Fund (PF), is a government-backed retirement savings scheme designed to help salaried...
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EPFO

The Employees’ Provident Fund Organisation (EPFO) is a statutory body under the Ministry of Labour and Employment, Government of India,...
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EPS (Employee Pension Scheme)

Employee Pension Scheme (EPS) is a government-backed social security pension plan administered by the Employees' Provident Fund Organisation (EPFO) to...
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ESI (Employee State Insurance)

Employees’ State Insurance (ESI) is a social security and health insurance scheme governed by the Employees’ State Insurance Act, 1948,...
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ESI/ESIC (Employee State Insurance)

Employee State Insurance (ESI) is a social security and health insurance scheme introduced by the Government of India under the...
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ESS (Employee Self-Service)

Employee Self-Service (ESS) is a digital portal or module within HRMS that allows employees to access and manage their own...
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Ex-Gratia

Ex-Gratia is a voluntary payment made by an employer to employees as a gesture of goodwill, not mandated by law...
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Exemption

An Exemption refers to the portion of income legally excluded from taxable income under the Income Tax Act, 1961. Exemptions...
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Expat

An Expat (Expatriate) is an employee who works in a country other than their home country, either on a short-term...
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F

FFS (Full & Final Settlement)

Full & Final Settlement (FFS) refers to the process carried out by an employer to clear all dues payable to...
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Fixed Pay

Fixed Pay refers to the guaranteed portion of an employee’s salary that remains constant each payroll cycle, regardless of hours...
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FNF (Full and Final Settlement)

Full and Final Settlement (FNF) is the process of clearing all dues payable to an employee upon resignation, retirement, or...
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Form 12BB

Form 12BB is a declaration form submitted by salaried employees to their employers, detailing their investments and expenses eligible for...
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Form 16

Form 16 is an official TDS (Tax Deducted at Source) certificate issued by an employer to employees. It provides a...
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G

Gig Economy Payroll

Gig Economy Payroll refers to the compensation and payment management system designed for gig workers or freelancers who work on...
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Gratuity

Gratuity is a lump-sum monetary benefit paid by an employer to an employee as a token of appreciation for long-term...
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Gross Salary Explained: Definition, Components, and Example

Gross Salary is the total amount an employee earns before any deductions such as taxes, provident fund, or professional tax...
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Group

A Group in payroll or HRMS refers to a logical classification of employees or organizational entities for simplified payroll processing,...
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H

Higher Pension

Higher Pension refers to the enhanced pension benefit available to employees under the Employees’ Pension Scheme (EPS), 1995, who choose...
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HRA (House Rent Allowance)

House Rent Allowance (HRA) is a key salary component provided by employers to help employees meet their rental housing expenses....
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J

Joining Bonus

A Joining Bonus is a one-time financial incentive offered by an employer to a new hire as part of their...
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Journal Vouchar (JV)

A Journal Voucher (JV) is an accounting document used to record non-cash financial transactions or adjustments in an organization’s books...
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L

Leave Encahsment

Leave Encashment refers to the monetary compensation paid to an employee in exchange for unused earned or privilege leaves accumulated...
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Ledger

A Ledger is a core accounting record that consolidates all financial transactions of a company into categorized accounts such as...
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LOP (Loss of Pay)

Loss of Pay (LOP) refers to the salary deduction made when an employee takes leave beyond their entitled paid leave...
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LST (Local State Tax)

Local State Tax (LST), often known as Professional Tax in some states, is a state-level levy on professionals, employees, and...
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LTA (Leave Travel Allowance)

Leave Travel Allowance (LTA) is a tax-exempt benefit provided by employers to employees, designed to reimburse travel expenses for vacations...
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LWF (Labour Welfare Fund)

Labour Welfare Fund (LWF) is a statutory fund established by various state governments in India to promote the welfare and...
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M

Medical Allowance

Medical Allowance is a fixed sum paid by employers to employees as part of their salary package to help cover...
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N

NDC Sync

NDC Sync (No Dues Clearance Synchronization) is the automated process of verifying and updating no-dues status of employees during resignation...
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Net Salary / Take Home Pay

Net Salary—also known as Take Home Pay or In-Hand Salary—is the actual amount an employee receives each month after all...
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New Tax Regime

The New Tax Regime is an optional income tax structure introduced under the Finance Act, 2020 to simplify tax computation...
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Notice Pay

Notice Pay refers to the monetary compensation paid in lieu of serving the notice period when either the employee or...
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Notice Period

A Notice Period is the time duration an employee or employer must serve after giving or receiving a resignation or...
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O

OffCycle Payment

An Off-Cycle Payment refers to any salary or payment processed outside the organization’s regular payroll cycle. It is made to...
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Old Tax Regime

The Old Tax Regime is the traditional system of income tax computation in India, which allows taxpayers to claim various...
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P

PAN (Permanent Account Number)

Permanent Account Number (PAN) is a unique 10-character alphanumeric code issued by the Income Tax Department of India to individuals,...
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Payroll Cycle

A Payroll Cycle is the recurring schedule that defines the frequency and timing of employee salary payments within an organization....
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Payroll Outsourcing

Payroll Outsourcing is the process where an organization delegates its payroll management functions to a third-party payroll service provider. This...
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Payroll Reconciliation

Payroll Reconciliation is the systematic process of verifying and matching payroll records to ensure that salaries, deductions, taxes, and contributions...
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Payroll Register

A Payroll Register is a detailed record that captures all payroll-related information for each employee during a specific pay period....
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Perquisite (Perq/Perk)

A Perquisite (Perk) is a non-cash benefit provided by an employer to employees in addition to regular salary, such as...
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PF (Provident Fund)

Provident Fund (PF) is a government-managed savings scheme where both employer and employee contribute a portion of the employee’s salary...
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PGP

Pretty Good Privacy (PGP) is a data encryption and decryption program that ensures the confidentiality and authenticity of digital information....
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Professional Tax (PT)

Professional Tax (PT) is a state-level tax levied on individuals engaged in employment, trade, or profession in India. It is...
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Prorate

Prorate means to calculate salary or benefits proportionally based on the number of days an employee has worked during a...
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R

Re-FNF

Re-FNF refers to the revised or corrected Full and Final Settlement processed when discrepancies, missed payments, or errors are identified...
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Real-time Payroll

Real-time Payroll refers to a modern payroll processing system where employee earnings, deductions, and tax liabilities are calculated and updated...
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Reimbursements

Reimbursements refer to payments made by an employer to an employee to cover work-related expenses incurred during the course of...
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Retention Bonus

A Retention Bonus is a one-time financial incentive offered by an employer to encourage employees to remain with the organization...
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Run Payroll

Running Payroll is the process by which an organization calculates employee salaries, deductions, and benefits for a specific payroll period...
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S

Salary Register

A Salary Register is a comprehensive payroll document that records monthly salary details of all employees in an organization. It...
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Salary Slip/Pay Slip/Monthly Slip

A Salary Slip (also known as Pay Slip or Monthly Slip) is an official document issued by an employer that...
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Section 80C

Section 80C of the Income Tax Act, 1961 is one of the most widely used provisions that allows individual taxpayers...
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Section 80D

Section 80D of the Income Tax Act, 1961 allows taxpayers to claim deductions on health insurance premiums paid for themselves,...
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SFTP

SFTP (Secure File Transfer Protocol) is an encrypted network protocol used to transfer files securely between systems over a secure...
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Special Allowance

Special Allowance is an additional payment made by employers to employees beyond their basic salary and other fixed allowances. It...
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Superannuation

Superannuation refers to a retirement benefit scheme wherein the employer contributes a defined percentage of an employee’s salary to a...
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Surcharge

A Surcharge is an additional tax levied on the income tax payable by individuals or entities earning above specified income...
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T

TAN (Tax Deduction Account Number)

Tax Deduction Account Number (TAN) is a unique 10-character alphanumeric code issued by the Income Tax Department of India to...
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TCS

Tax Collected at Source (TCS) refers to tax collected by a seller from the buyer at the time of sale...
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TDS (Tax Deducted at Source)

Tax Deducted at Source (TDS) is a system implemented by the Indian government to collect income tax at the point...
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U

UAN (Universal Account Number)

Universal Account Number (UAN) is a unique 12-digit identification number allotted by the Employees’ Provident Fund Organisation (EPFO) to every...
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Unit

A Unit represents an individual branch, office, or business location within an organization. In payroll, units help segregate employee data,...
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V

Variable Pay

Variable Pay is the portion of an employee’s compensation that fluctuates based on their performance, results, or achieving specific goals,...
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Variable Payheads

Variable Payheads are non-fixed components of an employee’s salary that fluctuate based on performance, attendance, incentives, or company profitability. Unlike...
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W

What is clawback recovery

Clawback Recovery refers to the process by which an employer reclaims previously paid compensation—such as bonuses, incentives, commissions, or severance—when...
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