Payroll Solutions For Enterprise and SMB’s
Payroll Solutions That Are Just Right For One & All!
Integration? Check. Accuracy? Check. Compliance? Check. Manage complex payroll processing in a few taps with our integrated & comprehensive payroll solution, specially designed for the Indian businesses.
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What is a Payroll Solutions?
Not many people know that the actual meaning of “payroll” is the list of employees that are enrolled and entitled to receive pay for working with an organization. Some also refer to it as the total amount of wages paid by a company to its workforce. Over time, the definition of payroll may have evolved but what remains the same is payroll solutions that make this process easy and efficient.
Payroll solutions are the processes, systems, or even the different ways in which an intricate and elaborate payroll process is streamlined in any organization.
There are three main ways to run payroll solutions:
- Manual Payroll Management – Payroll Accountant (Nah!)
- Payroll Outsourcing – Third Party Services (Really?)
- Payroll Software Solutions – Payroll Automation (Definitely, Yes!)
Payroll system software Your One Man Army
A Payroll Solution manages all payroll related tasks end to end from salary calculations, deductions, adjustments, to statutory adherence. It comprises of the following key components:
- Employee Payroll Information
- Working Hours
- Leaves & Time Off
- Monthly Paydays
- Salary and Compensation
- Payroll Taxes
- Overtime Pay
- Earnings & Deductions
- Fringe Benefits
- Special Allowances
Top 7 Problems Faced By Businesses Without Payroll Solutions and…How HROne Payroll System Software Comes To Their Rescue?
PROBLEM #1
Businesses we spoke to, constantly expressed concerns about unorganized, inconsistent, and bulky salary structures. Often, there had been no transparency in the salary structures and inappropriate gross salary calculations were done in the absence of a payroll solution.
Solution by HROne
Our systemized payroll solution allows employers to create diverse salary structures by defining multiple pay components and paygroups which can be mapped at the department level, OU level, or with specific designations for fair and transparent payouts.
PROBLEM #2
We have been hearing about cases where employees have to deal with frequent errors in salary calculation. Either the paydays are wrong or incorrect (extra/less) salary is credited to the employees’ bank accounts resulting in increased grievances.
Solution by HROne
Unlike other payroll software solutions, our system thoroughly validates the paid inputs with a 3-dimensional salary YTD reconciliation report that highlights the critical actions like missing bank information of employees, undefined salary structures of new joiners, pending approvals for 100% accuracy of paid inputs. Once the critical actions are completed and errors are reconciled, it takes just a click to transfer salaries to the employees’ bank accounts.
PROBLEM #3
Another instance where businesses face trouble during payroll processing is the manual deductions of loan and EMI. It is not only cumbersome to manage and track on excel sheets but also increases the probability of error.
Solution by HROne
Our payroll solutions simplify the loan and EMI deductions for advances through automation. The system takes into account the maximum EMI limit of the employee and makes the adjustments prior to processing the salary, with zero manual intervention by the HR or Finance Team.
PROBLEM #4
Companies make their payroll process prone to errors by practicing manual taxation and investment declarations. In case of a missed deadline or incorrect tax filing, they also invite unexpected legal troubles sometimes.
Solution by HROne
To resolve this issue, HROne payroll software automatically approves the proposed investment declarations of employees. Besides, all the statutory deductions such as EPF, ESI, Professional Taxes, IT, LWF, etc. are taken into account based on the latest laws and amendments.
PROBLEM #5
Many working professionals don’t completely understand each component of their payslip because of its complex excel format structure. This increases the number of queries & consumes considerable time of HRs in addressing the same.
Solution by HROne
The auto-generated payslips and tax slips facilitated by HROne are in a standardized format. Moreover, you don’t need to distribute them manually as the employees can download the same from their payroll system software or mobile app on the go, anytime.
PROBLEM #6
The HR/Finance Team has often reported trouble due to the manual generation of challans in separate formats for different entities.
Solution by HROne
Our Payroll solution generates challans for PF, ESI, PT, IT, LFW, Bonus, and more in the government prescribed and bank recommended format separately in accord with the latest compliance rules. The system also generates a ready checklist to track all compliance-related concerns in one window.
PROBLEM #7
At the time of full & final settlement, businesses face challenges due to manual F&F amount calculations, deductions due to pending or outstanding payments, and adjusting the closing settlement costs.
Solution by HROne
HROne payroll solution automates the full & final settlement once the last working day is specified; calculates gratuity, earned leaves, salary arrears and processes final payout making exit a delight for the parting employee.
Benefits of Payroll Solution
- Create diversified & transparent salary structure
- Auto convert Time & Attendance raw data into paid days
- Not just automate, schedule Payroll with HROne!
- Validate with critical action report for accurate payroll processing
- 100% statutory compliant Payroll
- Auto generate challans in government-recommended format
- 1 click Payslip & Tax slip download available with mobile app
- Auto adjust loans and advances EMI deductions
- Reduce Admin & Finance Workload
Your error-prone and inefficient payroll won’t fix itself!
Is your payroll solution good enough? Or are you even using any?
If not, give HROne a try!
-An intelligent, integrated, and simplified payroll software which is 100% error-free and compliant, every single time.
Sign up for a free demo today and learn about the other HR modules too besides our payroll system software.
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