Comprehending Payroll in Pakistan

Pakistan is a multi-ethnic country of South Asia and the world's fifth-most populous country, with a population of almost 243 million people. Its capital is Islamabad, in the foothills of the Himalayas in the northern part of the country, and its largest city is Karachi, in the south on the coast of the Arabian Sea. Pakistan encompasses a rich diversity of landscapes, starting in the northwest, from the soaring Pamirs and the Karakoram Range through a maze of mountain ranges, a complex of valleys, and inhospitable plateaus, down to the remarkably even surface of the fertile Indus River plain, which drains southward into the Arabian Sea. Here’s a detailed round up of all payroll compliance requirements and regulations, a crucial aspect of payroll services.

Income Tax

Overview and Residential Status

In Pakistan, the Income tax is governed by Income Tax Ordinance, 2001 which has been replaced recently by Income tax ordinance amended up to June 30, 2022 (The Ordinance). In this section, the provisions related to Taxation of Employment Income has been discussed.

The tax year in Pakistan runs from July 01 to June 30 and it is denoted by stating the calendar year in which the end date falls i.e., in case of tax year July 01, 2022 to June 30, 2023 it will be denoted as calendar year 2023.

Source Url

Comments

How Payroll Solutions Reduce Compliance Risks

If there’s one area businesses can’t afford to get wrong, it’s payroll compliance. From tax deductions and superannuation to labor laws and reporting standards, the rules are complex—and they’re constantly changing. Missing a deadline, miscalculating a contribution, or applying the wrong rule can cost a company thousands in penalties, not to mention damage to its reputation. That’s why many organizations are turning to payroll solutions to take the stress out of compliance. Let’s explore how the right payroll software helps reduce compliance risks and keeps businesses running smoothly. The Complexity of Compliance Payroll isn’t just about paying salaries. Every pay run involves a maze of regulations—income tax, overtime rules, retirement contributions, benefits, and country- or state-specific labor laws. For global companies, multiply that complexity across multiple jurisdictions, and the risk of error skyrockets. Without proper systems in place, HR and finance teams often spend hour...

How Top ERP Solutions Are Powering the Next Wave of Digital Transformation

Digital transformation has evolved from a buzzword into a fundamental business strategy. It’s no longer about adopting new technology for the sake of modernization — it’s about rethinking how the enterprise operates. And at the center of this shift lies the ERP system, the backbone that connects finance, operations, supply chain, and people into one intelligent ecosystem. Over the last few years, the role of ERP has expanded far beyond transactional management. Today’s top ERP solutions are intelligent, connected, and capable of learning from the data they process. They are not just supporting transformation; they are driving it. The shift in enterprise needs The way enterprises approach ERP has changed. Traditional systems were built for stability and control - they helped automate processes and ensure consistency. But the modern business environment demands more. Agility, speed, and real-time intelligence have become the new priorities. Organizations are now looking for systems that ...

How Heli MRO Software Reduces Maintenance Downtime

In the aviation industry, maintenance downtime is costly—not only in terms of lost revenue but also the potential for safety issues and customer dissatisfaction. For helicopter operators, keeping aircraft in the air while ensuring they are properly maintained is a delicate balancing act. This is where Heli MRO software comes into play. With its ability to streamline maintenance processes, improve scheduling, and enhance tracking, MRO software is revolutionizing the way helicopter maintenance is managed. Let’s explore how Heli MRO software can significantly reduce maintenance downtime and keep your operations running smoothly. 1. Real-Time Tracking of Maintenance Schedules One of the biggest contributors to maintenance downtime is poor scheduling and lack of visibility into maintenance needs. Heli MRO software centralizes maintenance schedules and tracks all scheduled and unscheduled maintenance activities in real-time. This means no more double-booking of maintenance slots or missi...

Ramco Systems

Search This Blog