Business Glossary
Clear, concise definitions of key business terms in payroll, finance, HR, compliance, and outsourcing. Your reference guide from MYND's domain experts.
Showing all 605 terms
Management Accounts
Management Accounts Management accounts , also known as internal accounts or performance reports, are financial reports generated by a business for its own internal use.
View definitionManager Self-Service
Manager Self-Service (MSS) Manager Self-Service (MSS) is a technological capability within Human Resource Information Systems (HRIS) or Human Capital Management (HCM) platforms that empowers line...
View definitionManpower Augmentation
Manpower Augmentation Manpower augmentation (also widely referred to as staff augmentation ) is an organizational outsourcing strategy used to staff a project and respond to changing business objectiv...
View definitionManpower Planning
Manpower Planning Manpower Planning , often interchangeably referred to as Human Resource Planning (HRP) or Workforce Planning , is the continuous process of systematic planning to achieve the...
View definitionManpower Supply
Manpower Supply: A Comprehensive HR Glossary Entry Definition and Overview In the discipline of Human Resources (HR) and workforce management, Manpower Supply refers to the total availability of suita...
View definitionManufacturing Recruitment
Understanding Manufacturing Recruitment Manufacturing recruitment is a specialized branch of human resources (HR) and talent acquisition focused on sourcing, attracting, evaluating, and onboarding per...
View definitionMarket Mapping
Market Mapping: Understanding Your Business Landscape Market mapping is a strategic business practice that involves visually representing and analyzing the various components of a target market.
View definitionMaster Service Agreement (MSA)
Understanding the Master Service Agreement (MSA) A Master Service Agreement (MSA) is a foundational, overarching legal contract between two parties—typically a business enterprise and a vendor, servic...
View definitionMaternity Leave
Maternity Leave: Supporting New Mothers in the Workplace Maternity leave is a period of paid or unpaid absence from work granted to a mother before and after childbirth or adoption.
View definitionMCA (Ministry of Corporate Affairs)
Ministry of Corporate Affairs (MCA) The Ministry of Corporate Affairs (MCA) is a government ministry of the Republic of India responsible for the administration of the Companies Act, 2013, the...
View definitionMedical Allowance
Medical Allowance: Understanding Employee Health Benefits A Medical Allowance , often referred to as a health allowance or medical benefit, is a predetermined amount of money or a reimbursement...
View definitionMediclaim Processing
What is Mediclaim Processing in Human Resources? In the domain of Human Resources (HR) and employee benefits administration, Mediclaim Processing refers to the end-to-end systematic management, verifi...
View definitionMerger & Acquisition
Mergers and Acquisitions (M&A) Mergers and Acquisitions (M&A) refer to the consolidation of companies or their assets through various financial transactions.
View definitionMGT-7 (Annual Return)
MGT-7 (Annual Return): A Comprehensive Overview MGT-7 is a crucial form prescribed under the Companies Act, 2013, in India, requiring companies to file an annual return with the Registrar of...
View definitionMinimum Wage Compliance
Minimum Wage Compliance Minimum Wage Compliance refers to the practice and systemic adherence by organizations to laws and regulations establishing the lowest legal remuneration that employers can...
View definitionMIS (Management Information System)
Management Information System (MIS) A Management Information System (MIS) is a computer-based system used by organizations to collect, process, store , and disseminate information to support...
View definitionMonth-End Close
Month-End Close The Month-End Close , often referred to as the period-end close or accounting close, is a critical accounting process that occurs at the end of each accounting period (typically a...
View definitionMonthly and Annual Compliances
Introduction to Monthly and Annual HR Compliances In the realm of Human Resources (HR) and corporate governance, Monthly and Annual Compliances refer to the mandatory, time-bound legal, statutory, and...
View definitionMulti-location Lease Management
What is Multi-location Lease Management?
View definitionNational Pension System (NPS)
Introduction to the National Pension System (NPS) The National Pension System (NPS) is a voluntary, long-term retirement savings scheme designed to enable systematic savings during a subscriber's work...
View definitionNet Salary
Net Salary Net salary , also known as take-home pay or net income, refers to the amount of money an employee receives after all deductions have been made from their gross salary .
View definitionNew set ups of Factory, Offices
Understanding the Concept: New Setups of Factories and Offices In the field of Human Resources (HR) and business strategy, the "New Setup of a Factory or Office" refers to the comprehensive human capi...
View definitionNFRA (National Financial Reporting Authority)
National Financial Reporting Authority (NFRA) The National Financial Reporting Authority (NFRA) is an independent regulatory body established in India under the Companies Act, 2013.
View definitionNiche Hiring
Understanding Niche Hiring Definition and Scope In the field of Human Resources (HR) and talent acquisition, niche hiring refers to the highly targeted process of recruiting individuals who possess ra...
View definitionNominee Details Management
Nominee Details Management is a critical Human Resources (HR) and compliance process that involves the systematic collection, verification, secure storage, and continual updating of information regard...
View definitionNon-IT Recruitment
Overview and Definition of Non-IT Recruitment Non-IT Recruitment refers to the specialized process of sourcing, screening, interviewing, and onboarding candidates for roles that fall outside the Infor...
View definitionNotice Pay Recovery
Notice Pay Recovery Notice pay recovery , often referred to as notice pay adjustment or recovery of notice period pay , is an HR and payroll practice where an employer seeks to reclaim or offset...
View definitionNotice Period
Notice Period In the context of human resources and employment law, a notice period refers to the length of time an employee is required to continue working for an employer after they have given...
View definitionNotice under Section 143(1)
Notice Under Section 143(1) of the Income-tax Act, 1961 A Notice under Section 143(1) of the Income-tax Act, 1961 (India) is a preliminary intimation issued by the Income-tax Department to a taxpayer...
View definitionNotice under Section 148
Notice Under Section 148: Unveiling Tax Reassessment Procedures A Notice under Section 148 of the Income Tax Act, 1961 (India) is a formal communication issued by the Indian Income Tax Department to...
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