PAYROLL & COMPENSATION

Companies have different pay rates and commission schemes for each employee. So if one’s payroll system is something like this, manual payroll preparation can be quite complex. In such cases it is advisable to use payroll module, as it make things easier and reduce the chances of human errors. Once you have defined the compensation package of the employee’s in the organization hierarchy, the system automatically takes the figures for the payroll.

  • Compensation Package

    Compensation Package module helps to create and edit employees / consultant’s compensation policy. Packages for various job positions can be created. It can then be linked to a role so that payroll can automatically be calculated.

  • Pay Scale

    Pay scale can be defined according to the tier level of employees with average pay rate, currency in which the employees are paid. Setting of average work hours (whether fixed hours/shifts) can also be done. HR can also customize the tier levels.

  • Benefit & Allowances

    Various benefits like gratuity, health/medical insurance, housing rent allowance, education allowance, holiday allowance, travel allowance, air tickets, performance bonus etc can be defined. The allowance can be calculated as percentage from salary or fixed.

  • Leave Package

    HR can define different policies for leave for different categories of employees according to the labor law.

  • Schedule Work Hours

    Enable HR to setup working hours for general employees as well as for the employees who work on shift.

  • Payroll Setting

    Centralized payroll setting can be defined for compensation Package which can then be assigned to a role/position.

  • Timesheet

    Timesheet being the prime factor for the calculation of the employee’s payroll who works on hourly basis, shift basis and project basis. Timesheet can also be imported from excel sheet

  • Biometric System Integration

    The attendance system can be integrated with biometric system.

  • Setup Bank

    Payroll administrator can setup bank accounts for salary payment.

 

KEY FEATURES

Allocating leave policy

Create a pay scale.

Allocate benefits & deduction to a particular package

Centralized payroll settings for a particular role/position

Shift compensation policy

Payroll module provides speed and accuracy.

Payroll module assures accurate employee tax withholding and tax payments

Pay employees for work performed

Provide a structured system of general guidelines for your organization, including employee pay structure, pay frequency, leave exceptions and overtime definitions

Store relevant information on each employee, such as contact information, start date, and wage and payment history

 

BENEFITS

No ambiguity in compensation & leave policy

Compensation package created according to the role’s importance.

Compensation package can be assigned to a particular role/position in an organization.

Reduced administration time by automatic payroll calculation and printing of salary slips.

Increased accuracy of tracking payroll expenses to the proper general ledger account or customer job

One has complete control over one’s payroll process

Calculate Monthly Payroll based on timesheet submission

Deductions & Gratuity calculation incorporated under Payroll

Provide Approval for Payroll Calculations

Ability to provide a project job code to a candidate for specific duration

Setup basic rates for each position

Setup holiday calendar

Define salary based on working hours

Allowances and Loans Amortization Rate