‘We apologize for the delays caused in releasing the salaries this month, due to a technical glitch’. Often, employers are compelled to send these emails to their employees at the end of the month, or when the salary release date is near. This could be quite annoying and even worse, frustrating, as this is the time when employees expect their salaries, and out of their excitement, only discover that the salaries are going to be delayed. Perhaps, the employees could take it once or twice in a year, but not more than that! The solution here is to technologize payroll operations through a comprehensive payroll management system.
Salary is the least that employees expect out of his employer, and if that isn’t credited in time, or is incorrectly computed, they gradually start losing trust. This could also have long-running effects on the credibility of the organization in the job market, and also amongst the stakeholders of the organization. Payroll, therefore, is a serious concern, and hence, employers must ensure that payroll is dealt with in a sincere and timely manner.
Why Payroll Management System to Handle Payroll Operations?
Of course, payroll management isn’t an easy task. It takes an exclusive workforce to ensure that all the necessary components of the payroll gamut are taken care of in the most compliant and appropriate manner. Payroll today requires to be managed with the help of technology. Manual payroll management could be time-consuming, and moreover, the manual errors committed could lead to a major revenue leakage in the long run. Perhaps, a lot of companies realize this only after considerable damage has already been done. Hence, technology is the way out here, and Eilisys is your technology partner out there!
Eilisys payroll management software not only helps organizations achieve precision but also process payroll in time, along with an assurance of compliance at all times. Nevertheless, these are only a few benefits associated with the payroll software system, there are many other features that result in many other benefits, some of which are, a simplified and transparent payroll function. Let us now proceed to take a look at some of the features of Eilisys’s payroll management software.
HCM Software | Payroll Management Software India | Best Payroll Software in India
Payroll operations are something that impacts multiple verticals at a time, and therefore it isn’t only the HR department that is relieved out of manual payroll management after the inception of payroll management software, but other departments as well that leverage its features to their respective benefits.
- Human Resources Department
- Maintaining employee job history.
- Calculating arrears
- Bulk FnF settlement with provisional form 16 on the same day
- Processing supplementary payroll
- Facilitation of comprehensive payroll reports in various formats like MS-excel, PDF, etc.
- Managing salary holds and releases
- Finance Department
- Creating audit trails
- Parameter driven salary JV
- Digitally signed form 16
- Calculation of interest on EMI or equated principal basis
- Automated TDS calculations
- Loans and advance tracking
- Easy integration with the existing ERP/ financial accounting, etc.
- Statutory Compliances
This mainly involves managing various forms involved in payroll operations such as ESIC form 6, provident fund Challan, ESIC statement and online Challan, and other forms such as 3A, 6A, 12A, 5, 10, 9, professional tax statement, etc.
Eilisys’s professional payroll management software is one solution with multiple benefits. It simplifies and expedites payroll operations, improves accuracy, and further, more importantly, helps the company remain compliant, and also retains employees and stakeholders’ trust, in the long run. For additional information, or for a demo, get in touch with Eilisys at (+91) 20 6729 5300.