Payroll Processing / Payroll Software

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Payroll Processing / Payroll Software

By Payroll Software India - FactoHR (30+ days ago)

factoHR is a cloud-based Payroll Software which is suitable for businesses of multiple sizes and contains features for executing HR tasks including recruitment and exit management. It offers Android and iOS mobile apps that link to the employee self-service portal and feature an income tax calculator.

factoHR employs a rule-based engine for learning and adapting to users’ processes. It offers workflows that can accommodate individual approaches to managing attendance, leave, travel, performance appraisals and claim applications.

factoHR, the Payroll software for India offers modules for tracking time and attendance, employee onboarding and delivering training through a learning management system. The attendance system allows employees to do a leave application or an attendance correction application from a mobile device. It integrates with biometric attendance devices to fetch and compute attendance data for salary process.

Payroll Processing Made Painless
Scalability

The HRMS system is developed to handle simplest as well as most complex payroll structure. So, as an organization grows, the system can be easily configured to handle add-on complexity and will give optimum Return on Investment.

Improve Throughput

factoHR’s in-memory engine ensures payroll processing in hours, not in days. All the post salary generation activities like accounting and compliance can be accomplished with a single click.

Effective Due Diligence

With enriched MIS, checking and reconciliation becomes very easy. So that user can easily check and reconcile all payroll details in minutes.

Salary and Reimbursement Process
Salary & Reimbursement Process
Once attendance and other ad-hoc payment/deduction inputs are ready, the user can run payroll for all/particular/group of employees on a single click. As part of the salary process, the system considers all the configured earning, statutory deductions like PF, PT, ESI, LWF and loan principal/interest components. Reimbursement can be paid as part of the salary, or separate payment can also be generated for the same.

Off-Cycle Process
The user can run off-cycle payroll process for any components like OT, Bonus, Reimbursement, Incentive etc. The same can be done for any missed out payment. This gives flexibility to the user so that he does not have to wait for next month payroll in case of additional/missed out payment.

Off Cycle Process
Arrear Calculation
Arrear Calculation
Arrear can be calculated for various reasons like Attendance, Increment, Overtime and Paid Holidays. Once this payroll input is provided, the system automatically calculates payable amount with retrospective effect (including past period). The Arrear can be paid through Salary, Off-Cycle or Reimbursement.

Loan & Advance Management
The user can define various types of Loan with its eligibility criteria and prerequisite configuration. For all type of running and new applied loans, the user can create loan entries employee wise. Based on employees’ loan entry, the system automatically deducts principal and interest amount during salary process and considers a prerequisite for Income Tax calculation.
Loan and Advanced Management
Payroll Jv
Payroll JV
Once the payroll processing is made, JV file for finance system can be generated by the system. JV file format can be configured as per requirement so that it can be directly imported into the finance system. JV can be prepared on the basis of employee and employee group/cost center. The system can also be integrated with accounting package like Tally.

Full & Final Settlement
Once an employee leaves the organization, his final salary is paid through Full & Final settlement. This feature of Payroll addresses all the aspects of receivable from and payable to an employee like notice pay, gratuity calculation, income-tax, leave encashment, loan recovery and remaining salary. Separate F&F pay slip can also be generated.

Full and Final Settlement
Investment Declaration and TDS Calculation
Investment Declaration and TDS Calculation
From ESS module, employee can directly update their investments done under various section 80C, 80CCC, 80CCD, 80CCG, 10A , u/s 24 etc. The same declaration can also be uploaded by admin user from HRMS admin portal. At the time of payroll processing, the system considers all the exemption while calculating TDS for individual employees. Form 16B and Income tax statement can also be generated from the system.

Multi-language Pay-slip
As soon as the payroll is finalized, admin can generate payslip for an individual employee, group or all. Payslip can also be mailed directly to employees’ email address. An individual employee can generate payslip from ESS portal. The user can choose from multiple payslip formats available. Payslip can also be configured for any local language.

With a range of MIS available in the system, it is very easy for the user to cross verify and reconcile payroll output with past months salary at the company, department, cost-center and employee level. Availability of other reports like leave valuation, gratuity valuation and YTD detail/summary facilitate user to extract information anytime. All the statutory returns like PF, PT and E-TDS can be generated from the system in the exact format required by a government body. This ensures on-time and accurate return submission.

Visit: https://factohr.com


Related Categories

Payroll Software - HR and Payroll Software - hris software - payroll software india - hrms systems - HRMS Software

Contact Payroll Software India - FactoHR
19, Balaji Towers, Sector 30A, Vashi,, Near Sanpada Railway Station, Mumbai (Bombay), Maharashtra, 400705, India
phone: 9909967181
https://factohr.com
Email




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