The need to rethink HR has never been more urgent than now. In today’s fast-paced world, where organizations are going through rapid transformations, administrative tasks, such as payroll and compliance can distract you from focusing on your core business objectives. This is where payroll software comes to your aid. Indian payroll and its processing have changed drastically with the entry of payroll software in India. The obsolete way of using Excel for payroll processing has been replaced by faster, simpler and more efficient cloud-based payroll software.
Without any delay, let us delve into some of the features of such Indian payroll software.
Hassle-free salary calculation
Payroll software on the cloud provides an intuitive solution that helps you to streamline your payroll process and manage it efficiently. It’s a one-click process, which results in the accurate computation of all salary components, reimbursements, settlements, arrears and statutory components, including income tax.
Generation of payslips
Through a payroll software, generation of payslips for your employees becomes child’s play. You can generate your payslips from anywhere, anytime. And there are options to print, e-mail or download these payslips.
Adherence to statutory laws
Statutory compliance is a difficult task for any payroll personnel. All statutory deductions, such as PF, ESI, PT, IT, etc., are automatically handled by payroll software without any fuss.
One of the most exceptional features, offered by some of the best payroll software in India, as seen in the current decade, is the employee portal. Through an employee portal, an employee will have immediate and easy access to all information including his personal as well as salary information. He/she can view his current and previous payslips and get information regarding the different salary components.
Full and final settlement
F&F settlements are now made simple with the best payroll software in India has ever seen. Various aspects of settlement like the recovery of pending dues, notice pay, leave encashment, etc., are effectively handled by the software .The payroll software also provides a option to generate final settlement payslips.
Payroll reports are documents that are generated from accounting records that have to do with the payroll of a business or company. The reports are normally structured to account for all payroll transactions for a specified period of time. They may cover a single pay period or include data relevant to longer periods, such as a quarterly or annual payroll. The web-based payroll software available in India takes care of these needs and creates the payroll reports with minimum fuss.
In conclusion, features like one-click salary processing, quicker generation of payslips, strict adherence to statutory compliances, access to an employee portal, hassle-free full and final settlements and seamless payroll report generation, which are readily available in any Indian payroll software have dramatically changed how an HR department functions in our country. A happy, productive HR department, which is often hailed as one of the most important pillars of any organization, will pave way for satisfied and content employees. For a fun and productive workplace, one should always opt for some of the best payroll software India has seen in recent times. Be brave enough to change your payroll game by implementing some of the best payroll software India has ever produced.