Showing posts with label Online Payroll Management System. Show all posts
Showing posts with label Online Payroll Management System. Show all posts
Why do You Need HR And Payroll Software For Your Business?

Why do You Need HR And Payroll Software For Your Business?

 The best HR and payroll systems can help to bridge crucial gaps between employees and organizations. Remote working or work-from-home has become the new normal these days. Many companies and SMEs are opting for remote working, especially after this coronavirus outbreak, HR software provides remote connectivity for employees working from various locations. Here are a few reasons why every organization should implement human resources payroll software ASAP.


1. Boost Employee Morale

Every HR payroll platforms have personal time trackers and personalized dashboards. Thus, employees get a detailed overview of their daily task performance, attendance stats, and pay status. In other words, they have more command over the process and are more likely to stay with your organization. Cloud HR software solution also helps managers to connect with their employees quickly and assists them in reviewing the work of the employee. Thus, by Increasing the production with high quality with this kind of software solution, SMEs can get real-time feedback for their employees which will help them in making decisions during the appraisal.

2. Improves Data Security

One of the most important reasons to invest in payroll software is data safety. By using Manual methods there is a chance of misusage of the data so most of the software has several security measures in place to avoid breaches. For example, encryption user authentication, firewalls.

3. Simplify The Hiring Process

When you work in human resources management there are many tasks to perform. You must record job descriptions, employee training, conduct annual reviews, and identify trends in employee behavior and performance which makes your HR activities more hectic. It allows you to streamline this process and manage team performance more efficiently. 

4. Employee self-service portals

In Employee self-service portals (ESS)employees can access information through a central gateway. Through the ESS portals, employees can view their own payroll, schedules, and benefits records from anywhere, at any time, and also make updates to their own details.

5. Reduces Human Errors

Manual processing creates many errors which include miscalculation in taxes, ignoring taxable items, feeding forms with improper information, and much more. All these errors can make a huge impact on your business. Hence HR and payroll software Plays important role in HR Activities and reduces efforts, time, and errors, Every company should prefer for its businesses.

How to pick right cloud based payroll software ?

For every organization, Payroll processing is more important if it is mismanaged that may end up in a situation where employees feel insecure within the organization. Moreover, there is a huge probability of errors with unorganized payroll processes. Hence every business needs software to manage payroll effectively.

This article helps you in picking the right cloud-based payroll software for your business.

Payroll software


What is Cloud payroll software?

Cloud-based payroll software helps the employees to access the data from any location, which allows the employees to work freely from anywhere without any location constraints.It is well designed in terms of safety and data security  With password encryption and other security traits, allowing safe access of payroll transactions to the employees.


What is the need for payroll software?

Small businesses may feel that there is no requirement for payroll software, As the technology is improving and situations like pandemics make payroll very easy by using the payroll management software, Please follow or know the below-mentioned points before you select the payroll software.

Reduces errors:

By Making the payroll process digitalized would surely reduce errors that are high at the time of manual entry. By using payroll software errors will be reduced and help in the on-time processing of the payroll to the employees.

Security :

Every payroll software should be maintained with high security as it contains the Employee data, so before selecting a payroll software one should look into security terms.

Seamless Integration :

most organizations are preferring the cloud platform so data goes on to the cloud and the data flow mechanism between various enterprise solutions. It usually has two data points 1. HR system for managing employee Data and financial ERP systems for managing the accounting and finance books so It’s important to understand the data flow protocols being used by the vendors, and how united they are with your existing systems, to ensure a secure exchange and processing of data over the cloud.

Ensure scalability :

As our organization keeps growing we need to expand and the provider needs to scale up, we need to check whether the vendor can support services across multiple countries, as the company grows.

ESI Calculation |How to calculate esi calculation on salary in india?

ESI Calculation |How to calculate esi calculation on salary in india?

 What is ESI?

ESI is defined as Employees state insurance (ESI) is a beneficial scheme for employees in India during their health-related problems. Employees' monthly contribution is deducted from employee and employer accounts as ESI Contribution.

As per ESIC rules, ESI deduction is applicable for employees at organizations with the strength of more than 10 persons and it is applicable for full-time employees and not for contract employees.

ESI Contribution is a type of social security for state employees, Deductions and calculations depend on the states of India.

How is esi calculation on salary is done?

Major parameters are 

1. Gross pay

2. DA(Dearness allowance)

3. Employment state

4. City compensatory allowance

ESI contribution is from both employee and employer as employee's contribution is 0.75 % of the gross salary whereas the employer's contribution is 3.25% of the gross salary of the employee.

A sophisticated HRMS solution can make ESI calculation and compliance management easier for the HR department and payroll department.


payroll features need to be considered before selecting a payroll software

payroll software 

1. Payroll solution supported by Right HRIS: HRIS stands for the Human resource information system it acts as a data source to payroll software. When we go through employee payslips we not only find the basic employee pay information, but also other details like grade or pay-range, leave and absence data, Thus HRIS is the source of all these information and the correct production of data is only possible if payroll system is integrated with HRIS. A fully integrated HRIS plays the key factor in getting employees paid on time and correctly.

2. Safeguarding Business with automated payroll compliance: Once you selected the right HRIS, Then the main thing u need to consider is whether ur payroll solution accommodates the ever-changing tax laws. payroll compliance is the pillar of the payroll system. Non-compliance may lead to heavy fines, and the fluid natures of tax laws need administrators to monitor the changes and adapt to them in their payroll system and the changes will be in huge numbers, Thus if you adopt a payroll software which is 100% statutory compliantly and automatically incorporates changes and updates then u no need to worry about PF, PT, LWF and ESI Calculations.

3. Choose a payroll solution that works efficiently on Reporting and analytics: payroll analytics helps in understanding where the money is going and what benefits does business is getting from these expenses. The right payroll software helps in knowing insights on department-wise budgets, compensatory breakdowns, provide statistics on employee count, salary and benefits and also gives insights about hiring statistics and turnover rates. payroll analytics helps finance teams in providing accurate results over a period and that will help them to budget accurately and manage cash flows. Therefore the right payroll software helps you to know about the data without breaking a sweat.

4.Data Security: Any information of the employees should be carried out with utmost care and it is important that your payroll software is equipped with high-security protocols. The best way to secure data is by educating the employee about the importance of handling sensitive information. The right payroll software assures that your data is protected by several layers of data encryption. 
payroll software - Cloud Payroll Software - online Payroll Software

payroll software - Cloud Payroll Software - online Payroll Software

Features of payroll software :

1.Statutory complianceOnline Payroll Management System can generate statutory compliance reports in just a few clicks. Payroll software binds the complete legal framework within the organizations with respect to the treatment of their employees. Payroll Software accommodates all big and small companies to keep their businesses safe from any legal trouble. Online Payroll software aligned with Indian labor laws and can deal with a range of issues from the payment of minimum wages to managing PF, ESI, PT and maternity benefits or any other taxes. Gratuity, Salary Linked Insurance Schemes, and bonuses can be integrated into this Online Payroll Management System.

Online payroll software - payroll software - Cloud payroll software

Features of  online payroll software :

Online payroll software 

1.Early salary & payroll configuration: WIN HRM Payroll web-based payroll management software is a robust and comprehensive Payroll Software that works as a single repository for your Core HR  needs. WIN HRM Payroll has robust built-in Payroll software that allows you to configure your payroll management system that Simplifies complex calculations of Income Tax, Employee Benefits, Reimbursements, Provident Fund reports, Professional Tax reports, ESI reports, etc. Payroll Software generates a complete Pay slip which includes Pay Category Details like Salary Code, CTC, Variable, Fixed, Professional Tax and type of salary (Earning/Deduction). Also generates reports of employees’ expenses and other claims like fuel, medical, LTA, etc., in just a few clicks
Online Payroll Management System

Online Payroll Management System


Cloud Payroll Management software India: Win HRM Payroll online Payroll management system is all-in-one cloud Payroll software with Payroll Software, ESS, leave management & attendance. Fully automated and best Online Payroll Software in India. Operate Hassle-Free with our Cloud Payroll Management Software.