About One-time Payments
Explore the use cases and taxes applied to make one-time Payments in RazorpayX Payroll.
With XPayroll, you can make one-time payments to your employees outside the monthly payroll process.
One-time payments are beneficial when your employee is:
- Remunerated for an ad hoc project.
- Receives a performance incentive or other bonuses like a retention/joining bonus.
Watch Out!
You must NOT use one-time payments for the following:
-
Not for salary payouts: Do not make salary payouts such as the following using one-time payments:
- Run payroll for just one employee.
- Disburse your employee's last salary.
- Pay employee's skipped salary.
- Clear any outstanding salary arrears.
If any salary component is yet to be paid to your employee, add it to the immediate next payroll cycle.
-
Not for compliance payments: PF, TDS, PT and other compliance components are a part of the payroll process, and you must process them in Run Payroll.
-
Not for paying Advance Salary: The amount paid to employees using one-time payments gets added to their next gross pay and causes double entries and errors.
Here is how you can make one-time payments to your employees:
- Log in to your .
- Under Admin Options, click Pay Employees → One-time Payments.
- Select the employee from the Who do you want to make the payment to drop-down.
- Fill in the payment details:
- Add the amount payable the Total Amount field.
- Add the payment type, such as a bonus or incentive, in the Type of Payment field.
- Select the checkbox against This Payment is taxable if the .
- Click Add once the details are finalised. Repeat this process for all the payable employees.
- Click on Pay Now.
Watch Out!
Ensure you have a sufficient balance in your RazorpayX Payroll account. Know how you can add funds into your XPayroll account.
All the transactions are queued.
- You can view the status of the one-time payment on the queue bar displayed on the screen or in 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 reflect in the upcoming month's payslip for the employee. Tax is deducted as applicable if you have selected to deduct tax in the future payroll.
TDS on one-time payments is applicable only when the amount paid is taxable.
When making a taxable one-time payment, XPayroll shows the net amount payable, that is, the final amount payable after TDS is deducted from the total amount.
XPayroll allows you to deduct the TDS at the time of payment or when executing payroll.
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