You can now make a one-time payment to your employees outside of their regular payroll cycle. Examples of a one-time payment can be a performance incentive or other bonuses such as a retention or joining bonus, that you want to pay to an employee immediately.
The payment will be paid out instantly to the employee and will reflect in their upcoming month’s payslip along with relevant addition to their TDS (in case it’s taxable). When you execute the upcoming month's payroll, XPayroll will exclude the amount that has already been paid via one-time payments from the required payroll amount.
What this is not:
Do not use this for salary arrears - this does not generate payslips. If you have skipped and not processed for the previous month, head to Run Payroll.
Do not make compliance payments like PF, TDS, PT or any other such payments via this module.
Do not use this for paying a salary advance. A one-time payment adds the amount paid out to the employee's next gross pay.
TDS on one-time payments
If the payment that you are making is taxable, then XPayroll will show you the net payment that will be made to the employee after withholding TDS. The TDS will get paid when the payroll for that employee is executed.
Here’s how you can make a one-time payment:
On the left navigation bar, click on the drop down arrow next to Payroll.
Click on One Time Payment
Select the employee from the Who do you want to pay dropdown
Enter the Total Amount, Type of payment and whether this payment is taxable or not.
Click on Add
Once you’ve done this process for all employees, ensure you have sufficient balance in your RazorpayX Payroll account.
Click on Pay Now
The transactions will be queued and you can view the status on the queue bar displayed on the screen or on the bottom right under the Queued One-time payments section.
To check the history of all one-time payments, click on the ledger section on the page.
The one time payment will be reflected on the upcoming month’s payslip for the employee and tax will be deducted as required.