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What Is Payroll Software?

MensagemEnviado: Qui 29 Ago, 2019 8:52 am
por panchalhina
Larger enterprises will find that payroll management software with a host of other features will suit their purpose quite well and also contribute to the overall efficiency and cost reductions. This could be termed as HR Software with the following features.

Finance & HR Department
1.Create audit trails for earning/ deduction and changes to employee master information.

2.Automated TDS calculation

3.Parameter driven income tax calculation and salary JV.

4.Automated bank file or NEFT file upload in the banker’s format

5.Working on quarterly/ yearly e-TDS returns in NSDL format

6.Facilitation of a digitally signed form 16

Human Resources Department
1.Offers a comprehensive database of employee information, along with the previous employment details of the employee.

2.Allows setting a user-definable formula for each deduction/ earning code.

3.Managing aspects such as salary revisions, attendance, arrears calculation, leave regularization, investment declarations, etc.

4.Generation of loan perquisite valuation report

5.Allows tracking loan and advances

6.Generation of variation report for last month transactions

7.Can be easily integrated with the existing financial account system/ ERP

8.CTC reimbursement management through limit based online claims

9.Helps calculate interest on the basis of EMI or equated principal.

10.Enabling to configure own dimensions for the salary JV