Updated on: 30 April 2013
CBDT had notified a new format for Form16 vide Notification No. 11/2013 dated February 19, 2013. This notification specifies details of Tax deducted, to be printed in Part A and details of income to be printed in Part B.
Subsequently, a new circular 4/2013 has been issued on 17 April, 2013 specifying that Part A of Form 16 needs to be generated and downloaded through the Government TRACES website (www.tdscpc.gov.in). All circulars are available on this page:
Emportant will help you meet compliance requirements in the following manner:
1. You may continue to download Form 16 Part A from the TRACES site and sign it manually or using digital signature. These authenticated Part A documents will then be required to be issued to employees manually. Part A can be generated in pdf format using the free tool provided by TRACES site and must contain the TRACES logo.
2. Emportant will generate a 2-part Form 16. Part A will be generated similar to the format downloaded from TRACES but will not be valid for issuing to employees. It is for reference purpose only.
3. Furthermore, Part A can be used to issue to those employees who did not have taxable income during the year and whose data was not uploaded as part of TDS return.
4. Part B would be generated on a separate page along with Part A for the AY 2013-14. You would also have an option to generate only Part B or else Part A+B together.
5. Tentative date of making available Part B as per new format is 15th May 2013.
Our compliance team is studying the implications further and will keep you apprised of any further developments in this regard. A detailed instruction on generating Form 16 would be provided to you in due course.
Even though we are in the 21st century and already preparing ourselves for 2013, debate over status of women in the workplace still exists. Most of us prefer co-ed schooling and university then why not create a diverse workspace.
Ronesh Puri, managing director, Executive Access (India) says, “Let’s face facts: women are wired differently and have a better intuitive ability. In today’s hyper-competitive environment, when a number of decisions are taken on gut instinct because of a variety of reasons, organizations benefit from having better gender diversity”.
Research shows that an organization’s performance is directly linked to its gender balance ratio. “Apart from the talent, there’s also the innovation factor—a lot of research suggests that you can come up with more creative solutions when you have increased gender diversity. There is a clear correlation between gender representation in the staff and the company’s performance,” says Rohini Anand, senior vice-president and global chief diversity officer, Sodexo.
The study reveals how a group of companies with the highest representation of women on their top management teams experienced better financial performance than the group with the lowest women’s representation. Gender diversity leads to better financial performance.
What’s your take on gender diversity and do you support specific initiatives to identify and hire the right women candidates in the workforce ?
References: Excerpts from ‘The Times Of India’
We’ve waited to announce a new release until well after the hectic days of March are behind all of us. In this exciting new release, we bring several significant features. While some new capabilities have been partly released to a few customers, several of the new things are released officially to all customers starting 26 April 2013. Most significant is the new capabilities in the Dashboard and ability for Payroll teams to process salary in far fewer steps so you can save precious time during those last few days when you finalize Payroll.
Click here to read about the new capabilities in this April 2013 release. We’d be happy to have your feedback, please feel free to share your views here.
It starts from the day when you meet for the first time sitting across the table. You develop a relationship with potential candidates long before the journey actually takes off.
There is no harm in becoming ‘a favorite employee’. Advantages – you know who is going to get the good tasks, the nominations and the awards and most important you know ‘you are safe’!
A few cool tips on how to enter the ‘favorite‘ list…
Let your boss know what you are up to, like sharing a status update end of the day and keeping him/her updated about your to-do list. Keeping you in the forefront makes you occupy mindshare of the boss and eliminates you becoming a source of worry or frustration. Emportant HRMS provides an easy way to keep your to-do progress updated and automatically notify your Manager.
Make your boss’ life easier –be proactive in putting out your boss’ fires and they will love you for it.
Make your boss look good – the most smartest and influential trick is to credit ‘your boss’ for all your accolades and recognition and put him/her into the spotlight.
The ‘favorite’ tool can be equally used by Managers by making his/her team member feel special. It’s a great way to build team camaraderie and motivate employees.
Amidst all this, is it lame to be keeping quiet and silent and hoping to be discovered? What is your opinion about aiming to be a manager’s favorite? Do you think it helps achieve goals? Do you think it’s sycophancy? Love to hear your experiences in your own company…
Working in a start-up can come with varied expectations and experiences. It can be gratifying and liberating if the individual is passionate and excited about the domain. It would also be full of hurdles, and make one face the challenges of working with limited resources, delayed salaries, work overload, and garage style amenities. For the unprepared, this could lead to extreme frustration.
So what is the trick in getting the right fit? One of the smartest things to do is to attract young professionals who want to be a part of something worthwhile. They’re eager to learn and to get trained along with right attitude and commitment. These are the most critical aspects when hiring a person. Everything else can be taught. Many a successful entrepreneur will tell you that they hire for attitude, not for knowledge. In my own experience I’ve interviewed hundreds of youngsters and hired them even when I didn’t understand all of the technology that they were expected to work on – they got hired because of ‘can-do’ attitude.
It is important to clearly communicate at an early stage to potential hires about the challenges and realities of working in startups. Explaining them the limited resources that they will need to work within, clarifying that processes are yet to be defined, explaining that most things will be ‘figured out as we go along’, etc. Above all, ensure that they clearly understand the work environment and work culture before accepting your offer to join.
The open culture works like a two-way street – just like you promised, ensure that you do ‘figure out’ stuff as you go along. It will establish your credibility within your team like nothing else can.
While hiring is tough, its equally challenging to get a team member to buy in to your your set vision and goals. You would often hear a successful professional tell entrepreneurs “I wish I had the guts to be an entrepreneur like you”. This is driven out of admiration of gutsy people. The entrepreneur on the other hand dreams of making every team member an entrepreneur in his/her own right because that’s when they treat every mission as their
Do you have a story about some unique hiring experiences ? Write to us about it and we’ll share it with our community.
Come winters and the market are loaded with “Carrots”, the only season in the year when you enjoy its sweetness. And after having those all these years I realize it’s most important applicability. Yes, now you can have the cake and eat it too!
“The Carrot”-this term has its origin in folklore where a carrot was tied to a stick and placed in front of a donkey to induce the donkey to try and move forward in a bid to reach the carrot thus pulling the cart that was hitched to the donkey. This idiom has become a well-known technique in the management that implies using a combination of rewards to achieve compliance and encourage employees to perform better.
Rewards and Recognition could be put to use in any form. Yearly appraisals no longer works as a booster for elevating performance of an individual. Productivity is something that needs to be focused on year round, so why not implement year-round recognition programs? Motivating and encouraging employees to be successful in their role is just a small part of activating your workplace to obtain the highest level of productivity.
The world may have progressed and workplaces may have become more sophisticated, but surely Carrots have great relevance and are here to stay and will continue to have relevance in the future too. Emportant HRMS enables measurement of employee performance on a year-round basis instead of a year-end basis. Talk to us about how we can help you put the Carrot to good use.
The Purple Squirrel
What’s that? You probably haven’t heard of The Purple Squirrel unless your day job involves recruitment. It’s the recruiter’s oxymoron for the perfect candidate with all the experience, qualifications, skills, education, and anything else needed to fill an open job. And because there is no such thing as a ‘purple squirrel’, it is a term invented to poke some humor at the unrealistic expectations companies can often have because it is nearly impossible to find a candidate who is an absolute perfect match.
The benchmark Purple Squirrel was Tony Fadell, who conceived of the concept of the MP3 player while he was at Philips. But Apple recruited him away, allowing them to dominate and make billions in a product area (the iPod) where they had little expertise before recruiting him. This single Purple Squirrel acquisition made Apple billions and set the expectation for market dominating innovations at Apple!
Although recruiting Purple Squirrels may seem unusual to many, the practice is actually quite common in the sports and the entertainment industries.
If you want to pursue the approach in the corporate world, the first step is to identify a few “Purple Squirrels” and ask senior leaders to estimate their impact if they were successfully brought on board. When you get a resounding “yes,” you need to be prepared with a complete plan on how you have the capability to contact, build a relationship, and eventually recruit them. And then go on to create the next iPod!
Emportant helps you realize your human resource potential to its fullest. Our assignment management system is closely tied with performance management which helps you set periodic goals and facilitates employee-manager reviews to be recorded along with KPIs. Get in touch with us for further information.
- and inputs from Emportant team
A fresh new week and a fresh new release – the Emportant Mint release is just that, a fresh new way of using the HR/Payroll management system that promises to make your HR management even easier.
The Emportant.com team has worked hard to make this happen. Just like every other major product release, there were dates and there were several deadlines before today’s. We managed to miss all of them (not this one !), but not before we ironed out all the problems that you reported. For several of these pesky problems, we got lucky (we found them before you did !)
That was just to let off some anxiety that’s built up over the last few months. Tomorrow Mint faces the world and like every artist we’re also nervous before the show. We’re pretty sure you’ll like what you see but if there’s something that you don’t, we’ll be around to listen.
We’ve put together a list here. One that you can refer to quickly, for all new functionality and features that come to you with Emportant Mint release.
Emportant.com now supports several browsers including the latest version of all popular browsers. We now officially support several browser versions. For more details, click here.