Permanent Account Number or the PAN number is a frequently valued ID proof and a statutory requirement in payroll. The employee PAN information is required during the process of filing Form 24Q returns for the company also for other transactions with the income tax department.
The update employee PAN number page under the actions tab enables you to update the PAN of an employee. Select the status as PAN available and update the PAN details here.
There is a possibility that PAN details provided by the employee could be wrong or numbers interchanged. Incorrect PAN will lead to the wrong credit of taxes deducted and remitted by the organization. Therefore, a strong validation of all such data should be performed. There are government approved websites like UTI or NSDL where PAN can be validated.
Generating Form 24Q on greytHR