Member Article

Payroll Software for Indian SMBs

Certain HR tasks demand much transactional effort from your employees. Payroll processing is one of them. Cutting down the effort required to handle such tasks is payroll processing software. Payroll processing software differs considerably from country to country. This is owing primarily to the different compliance landscapes that are present in various countries. Thus the payroll process in India is different from those elsewhere. Here’s a closer look at what an Indian payroll software for small business has on offer.

One-click payroll processing

Payroll processing becomes a breeze with software that’s designed for the job. It is a one-click activity on the tool, with all inputs flowing into the payroll system from the integrated leave and attendance management systems (Click Here). Additionally, a payroll checklist ensures that you’ve completed all the requisite steps before actually processing payroll.

Statutory compliance and updates

Designed for the complex and constantly evolving legal landscape present in India, Indian payroll software ensures you’re compliant at all times. With its automatic compliance-related updates and enhancements, the software makes sure that you face no hassles when trying to stay compliant. A number of forms can be uploaded to the relevant government websites directly from the application, all compliance-related calculations are handled on the back end and regular updates ensure that you do not need to stay updated about the nitty gritty of compliance, ever again.

One-click payslip generation and distribution

Your business loses every time an employee receives an incorrect salary. The credibility of the organization is in question and you are left with disgruntled and demoralized employees. Productivity too takes a hit if the error takes time to fix. With payroll software, these worries are a thing of the past. Accurate payroll calculation is teamed with one-click payslip generation and distribution on such a tool. Generation of payslips is an easy task. Following this, use secure means to deliver these to your employees.

Full and final settlements

These become organized and streamlined on payroll software. The tool simplifies F&F settlements by handling on the back end its different aspects, such as the recovery of pending dues, leave encashment, notice pay, etc., to compute the final settlement amount. Final settlement payslips can also be generated using a software. A provision for resettlement of employees once settled is also available, for any additional payouts that may need to be made.

FBP Planner

Advanced payroll software allows you to create and compare flexible benefit plans. Employees can decide which components they want to opt for and how much they want to declare under each component. The eligibility limits for each employee are coded into the back-end, eliminating confusion about how much one can declare under each component. Create multiple plans and compare them before deciding which one to opt for.

Reimbursements made easy

Claiming what you are due by way of reimbursements is no longer a hassle. Use a payroll software’s simple workflow to submit claims and track them through the approval process. The provision to attach bills adds to the convenience, allowing one to attach scanned copies of bills to the claims submitted. Opt for payroll software to sharply reduce the transactional effort payroll processing calls for.

This was posted in Bdaily's Members' News section by Lena Burkut .