Resettlement Payroll
In certain situations, employees may be terminated from their positions without receiving their due compensation. With the Resettlement Payroll feature in Zoho Spend, you can efficiently process payroll for terminated employees who were not compensated at the time of termination. This feature ensures that such payments are efficiently separated from the regular payroll. You can also include the terminated employees easily in the Resettlement Payroll.
Scenario: Zylker, an organisation of 500 employees, recently went through a restructuring, leading to the termination of several employees. Unfortunately, due to the complexities of the process, these terminated employees did not receive their dues when they left. Now, Ram, the head of the payroll team at Zylker, faces the challenge of processing their pending payments accurately and efficiently. He can just use the Resettlement Payroll feature in Zoho Spend to issue earnings and deductions for all the terminated employees in a single go.
Initiate a Ressettlement Payroll
To initiate resettlement payroll for your terminated employees:
- Go to Pay Runs under Payroll.
- In the Run Payroll tab, click Create Pay Run in the top right corner and select Resettlement Payroll.
- Select When would you like to pay and click Save and Continue. You’ll be redirected to the Add Resettlement Payroll page, where all the terminated employees will be listed.
Insight: You also add the terminated employees by clicking Import Employees.
- You can choose to add earnings and deductions for the eligible employees. Click Add Earnings/ Deductions for the terminated employees.
- Enter the amount for the applicable earnings and deductions and click Save.
- Click Continue To Payroll in the top right corner. A Resettlement Payroll will be created in Draft status.
Next, click Submit and Approve in the top right corner to approve the resettlement payroll. Pay your terminated employees and process the payment for it.