HR, payroll & agile glossary
38 terms our products deal with every day, each in a sentence or two.
Payroll & tax
- CTC (Cost to Company)
- The total yearly amount an employer spends on an employee — salary plus employer contributions such as PF and gratuity.
- Gross salary
- Salary before deductions: CTC minus the employer’s own contributions.
- Net pay
- What reaches the employee’s bank account after deductions such as PF, professional tax and TDS. Also called take-home pay.
- Basic salary
- The fixed core of a salary. PF, gratuity and several allowances are calculated from it.
- HRA (House Rent Allowance)
- An allowance towards rent. Under the old tax regime, part of it can be tax-exempt for employees who pay rent.
- PF (Provident Fund)
- A retirement savings scheme run by EPFO, built from monthly contributions by both employee and employer.PF, ESI & PT payroll in Verdeshell HRMS
- EPS (Employees’ Pension Scheme)
- The pension scheme under EPFO. Part of the employer’s PF contribution goes into it.
- UAN (Universal Account Number)
- A single PF account number that stays with an employee across every job.
- ECR (Electronic Challan cum Return)
- The monthly file an employer uploads to EPFO listing each employee’s PF contributions.PF, ESI & PT payroll in Verdeshell HRMS
- ESI (Employees’ State Insurance)
- Medical and cash benefits for lower-paid employees, funded by employee and employer contributions and run by ESIC.PF, ESI & PT payroll in Verdeshell HRMS
- Professional tax (PT)
- A state tax on employment, deducted from salary each month in the states that levy it.PF, ESI & PT payroll in Verdeshell HRMS
- LWF (Labour Welfare Fund)
- A small contribution collected in some states to pay for worker welfare schemes.
- TDS on salary
- Income tax the employer deducts from salary each month and deposits with the government on the employee’s behalf.Form 16 & 24Q in Verdeshell HRMS
- Form 16
- The yearly certificate an employer gives each employee showing salary paid and tax deducted. Part A comes from TRACES; Part B shows the salary and tax workings.Form 16 & 24Q in Verdeshell HRMS
- Form 24Q
- The quarterly return an employer files for tax deducted from salaries.Form 16 & 24Q in Verdeshell HRMS
- Form 12BB
- The form employees use to declare rent, investments and home-loan interest so the employer can count them when deducting tax.Form 16 & 24Q in Verdeshell HRMS
- Old and new tax regime
- Two ways to work out income tax: the old regime allows more deductions and exemptions; the new regime has lower rates and fewer deductions.Form 16 & 24Q in Verdeshell HRMS
- Arrears
- Salary owed for an earlier period, usually after a backdated pay revision.PF, ESI & PT payroll in Verdeshell HRMS
HR & attendance
- Gratuity
- A lump sum generally paid to an employee who leaves after five or more years of continuous service, based on last basic pay and years served.Full & final settlement in Verdeshell HRMS
- Full and final settlement (F&F)
- The last payment when an employee leaves: pending salary, leave encashment and other dues, minus any recoveries.Full & final settlement in Verdeshell HRMS
- Leave encashment
- Payment for unused earned leave, made during employment or at exit as company policy allows.Full & final settlement in Verdeshell HRMS
- Notice period
- The time an employee or employer must give before employment ends. Unserved notice may be paid out or recovered.Full & final settlement in Verdeshell HRMS
- Comp-off
- Compensatory off — a day off given in return for working on a weekly off or a holiday.
- Attendance regularisation
- Correcting a missed or wrong punch by raising a request that a manager approves.Biometric attendance in Verdeshell HRMS
- Geo-fencing
- Allowing attendance check-in only within a set radius of an office or site.Face & GPS attendance in Verdeshell HRMS
- Liveness check
- A test that a real person is in front of the camera, not a photo, before a face check-in is accepted.Face & GPS attendance in Verdeshell HRMS
Agile & delivery
- Sprint
- A short, fixed period — often one to four weeks — in which a team delivers an agreed set of work.Sprint planning in Verdeshell Flow
- Product backlog
- The ordered list of everything a product team might work on next.Sprint planning in Verdeshell Flow
- Burndown chart
- A chart of work remaining in a sprint against time, showing whether the team is on track.Sprint planning in Verdeshell Flow
- Velocity
- How much work a team finishes per sprint, used to plan the sprints that follow.
- WIP limit
- A cap on how many items can sit in one stage of a board at once, to keep work moving.
- Definition of Done
- The shared checklist a work item must meet before it counts as finished.
- Retrospective
- A meeting at the end of a sprint where the team looks at what went well and what to change.Sprint planning in Verdeshell Flow
- OKR (Objectives and Key Results)
- A goal written as an objective plus a few measurable results that show progress towards it.Goals & OKRs in Verdeshell Flow
Sales & CRM
- Lead scoring
- Ranking leads by how likely they are to buy, so the team follows up on the best ones first.Lead scoring & routing in Verdeshell CRM
- AMC (Annual Maintenance Contract)
- A yearly service agreement covering scheduled and on-call maintenance for equipment or a property.Field service & AMC in Verdeshell CRM
- EMI (Equated Monthly Instalment)
- A fixed monthly loan payment that covers both principal and interest.Loan management in Verdeshell CRM
- WhatsApp message template
- A pre-approved message format that businesses must use to start a WhatsApp conversation with a customer.WhatsApp CRM in Verdeshell CRM