Payroll in India: Basics, process & more

By Pavan Kumar
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Every employee works the whole month and looks forward to the compensation given as salary at the end of the month.  The accounting personnel working in excel sheets executing pay for the employees avoiding errors. The employees’ attendance and leaves also need to be checked while calculating the salary. To add to the woes, tax demarcation and arrears status will also play an important role in the calculation of the final amount to be transferred to the employees’ bank account. All these need to be updated with appropriate formulae applied at various stages.  Human errors need to be ratified since errors in the final payment would create confusion.

How do we rectify the situation?  

Finding a trusted and experienced payroll provider will eliminate the confusion and stress that often accompanies paying employees, filing forms, and meeting all your tax requirements. Always select an HRMS tool that is modular, configurable and highly secure that will help you to take care of your routine administrative HR activities so that your work is effective and systematic. HR solution built on the Oracle tech stack and also hosted by Oracle cloud should be preferred due to its advantages.  Modular HRMS tool makes all HR activities centralized, secured and a big goodbye to paperwork!

What are you waiting for? Your trusted cloud-based PulseHRM is just a click away!

Are you one of almost 30 percent of businesses still using payroll technology more than 10 years old? If so, your days of working with paper timesheets, punch cards and physical time clocks should be called off.  Modernize your payroll with the following technologies and voilà! you can use cloud-based platforms, automated workflows and mobile-friendly apps to accurately manage payroll on the go, and assure compliance.

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Here are the ways to simplify payroll management, reporting and compliance:

Cloud-based payroll systems:    

The cloud-based systems have already done wonders in terms of data storage, organization and security. Cloud-based payroll systems have the most secure control over sensitive data such as Social Security numbers, compensation, benefits and address information.

Upping process Automation:

Payroll automation creates error-free data eliminating the manual and redundant entry of the same information by many people. Additionally, modern payroll software accesses all relevant information necessary to automatically comply with ever-changing state and local tax codes, wage rates etc.

Bio-metric time and attendance:

Biometric eliminates ‘buddy punching’ and records late arrivals, early departures and unplanned absences. Employees can clock their attendance using their phone or any other device and geo-fencing can be used to draw boundaries around the site where employees can punch in and out which will help you to know the exact location of an employee.

Self-service portals:

Online employee engagement is the perfect epitome of modern payroll systems. The employee and manager self-service module manage personal profile information, notifications related to colleagues, departments, and company, and internal help desk for the service request that gives higher employee satisfaction. Right from the hiring process needs no face-to-face time with an applicant until the final interview.

Unified data access:

The data belonging to the areas of benefits administration, payroll, deductions, taxes, staff reviews and more is today integrated and consolidated across platforms so you can quickly access and reference it.

Modern payroll technology advancements cannot be considered as an expense but as an investment.  They can save substantial time and money of the organization and also do a better job of keeping the concerned individuals abreast of current labor laws, tax regulations and filing requirements. Upgrading your legacy payroll system will have you working smarter, not harder.

Ease your payroll burden in one-click

Here.

The Payroll module of PulseHRMS automates payroll processing by automatically synchronizing the data from Time and Attendance Module and  Leave Module for the total payable days in a month generates pay sheet, bank statement and statutory compliances reports. This module is also integrated with Accounts Management Systems.

Pulse HRMS based on Oracle cloud levels of efficiency, security and availability, is a complete HR solution for a growing company, guaranteeing its application availability.  It is an HR tool which grows with you whether it is the number of employees or your business. Add modules as you need them customized to suit your business needs as they evolve and configure them to the simplest to very complex HR policies. We work tirelessly responding quickly to important issues and to ensure you get all the support you need as quickly as possible.

Finding an HRMS tool that is compatible with your organization can be resolved very easily. To find the best HRMS software for your company, simply visit our website: www.pulsehrm.com                                                                                                                                                                                                                                                            or                                                                                                                                                                                                                                                                                                                                    Send an email to: sales@pulsehrm.com                                                                                                                                                                                                                                                         or                                                                                                                                                                                                                                                                                                                                       call +91-7660846663.

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