HR & Payroll Management Software
HR Payroll Management Software is highly beneficial for any type of organization or educational institutions. Accounts department perform various activities such as payroll processing, maintaining salary details of every employee, keeping track of deduction and installment details, etc. Accounts and Establishment department work together to calculate leave and LWP of all employees and then process the salary.
Establishment section maintains a record of employee's all basic information like personal details (name, address, birth date etc), service date details (joining date, increment date etc.), bank details, pay scale, basic and grade pay etc.
In payroll management system, user can define 15 Earning & 20 Deduction heads which are bifurcated in fixed and calculative head like HRA, DA, TA, CLA, PT, PF etc. User can set earning & deduction rule for them. Here user can create different rule combination for employee having fifth pay, sixth pay & seventh pay etc. For salary processing as a prerequisite, user has to enter deduction for different LIC's, advance from salary, Increment entry of eligible employee and attendance. Then according to rules and defined prerequisites, salary is calculated for all employee.
In addition to the regular salary bill, supplementary bill can be prepared for the payment of Arrears, Consultancy, Bonus etc. The system provides entry part for the preparation of these type of bills. User can mention remark to include this bill for the calculation of income tax.
Provident Fund (PF):
Deduction of different PF are made from the salary bill and automatically transferred into the PF account of employees. In the interest calculation option, user can define interest rate. For PF ledger, organization contribution is credited to employee’s ledger every month.
Monthly deduction of Income Tax through salary bill is used for the income tax computation. The process starts with the declaration of income and deductions made by employee apart from his salary. For income declaration, an employee has to submit income declaration form. Then account section verifies it. This entry will be issued for the preparation of form no. 16.
Income Tax can be calculated at the start of the year with proposed salary calculation option. So that employee can get a rough idea of his income tax payable. This will help employee for his tax planning. The calculated Income tax amount transferred to IT head and it is deducted every month for the current financial year.
Following Payroll Reports can be generated from this module,
- Salary Bill Register
- Payslip and Salary certificate
- Schedules of GPF, PT, Income Tax, etc.
- LIC list with Policy details
- Monthly Installment Report
- Abstract of Salary
- Bank Statement
- Supplementary Bill Register
- PF Ledger
- PF Loan Sanction Statement
- PF Broadsheet
- PF Final settlement report
- Annual Report for all & individual Employee
- Form 16 and Form 24Q
- Declaration Form
- Selected Single head or Multiple head List
- Employee Id card
- Selected field of employee