Top 7 benefits of using a payroll software

Benefits of Payroll Software

1.      Less cost

2.      Ease of use

3.      Relief from regulatory aspects

4.      Easy and fast payroll reconciliation

5.      Generating Accounts JV

6.      Multiple reports generation

7.      Inbuilt leave and attendance data as automated inputs

Eilisys is best HR & payroll software India which meets all your requirements, from attendance punch to payslip generation & suitable for all industries

The term ‘payroll software’ refers to automating the entire gamut of payroll tasks involved in calculating the salary of the employee, calculating the statutory deductions, arriving at the amount of payout to be done and ensuring that the calculated amounts are paid out to employees on time.

Traditionally, processing of payroll is a time-consuming process repeated every month. Now, with a single click, a payroll software calculates gross pay, deductions, statutory compliance and net pay for each employee and processes it immediately.

Apart from calculating and disbursing salaries, payroll processing also involves calculation of all statutory dues (employee and employer contributions), generating reports in the format mandated by law and filing (submitting) these reports along with the amounts to the relevant government departments.

Additionally, employees need to be informed about the salaries paid to them, tax deducted, reimbursements, etc. This is done via payslips.

There are many payroll software available in the market, more information can be found here https://www.slideshare.net/eilisysfb/what-features-will-business-owners-get-out-of-payroll-software-system

How does HR Technology Impact Small and Medium Size Business?

Inducing technology in the existing system involves cost, as well as time, and therefore, often, small and mid-sized businesses are reluctant to accept it. But, as technology is the way forward, sooner or later, businesses won’t have an option, but to deploy it to simplify and expedite routine tasks.

HR technology, which may initially incur some costs, is a a smart and futuristic initiative that will help small and mid-sized business owners to accelerate the pace of the routine administrative tasks such as leave and attendance management, payroll, and others. This blog sketches the impact that Eilisys HR management software, with its functionalities, can impact small and mid-sized businesses.

Functionalities of Eilisys HR Management Software

Leave and attendance, along with payroll management software constitute the most important elements of Eilisys HR management software.

Hence, at the outset, take a look at the functionalities of Eilisys leave and attendance management software.

à Shift Management

ü  Prepare shift schedules for the team, well integrated with the existing workflow-based approval processes.

ü  Configurable template for an exclusive shift pattern.

à Automated, Accelerated and Real-Time Employee Attendance Time Tracking

ü  Automate employee daily attendance management

ü  Online shift scheduling and change management.

ü  Live and automated employee time tracking.

ü  Automate leave and attendance status emails to an employee at the end of the month.

à Extra Time Management

ü  Configurable compensation based on overtime, late working, etc.

ü  Prevent revenue leakage through overtime posting based on the pre-approved overtime plan.

ü  Customize calculation rules based on the type of day such as public holiday, normal working day, etc.

à Compliance Management

ü  Manage form20, overtime, leave a card, muster roll, adult register, and many others as and when needed.

ü  100% Compliance with labor laws.

à Exception Handling

ü  Integration of attendance exceptions such as early out, late in, absenteeism missed punch in, shift variations, etc.

ü  Email notifications to employees and managers for proposed leave or salary deductions.

ü  Exception regularization management through the on-duty punching regularization application.

ü  Configuration of deduction policies for attendance exception as per the number of occurrences during the entire month or the actual minutes.

à Comprehensive and Analytical Reports

ü  Generate more than 30 departmental reports in multiple formats including PDF, Excel, HTML, etc. and design your own customized reporting tool.

Eilisys HR management software is easy to integrate with the existing HR systems, thus simplifying the otherwise complex and time-consuming task if systems integration, and avoiding data loss, and concerns alike.

Functionalities of Eilisys Payroll Management Software

Let us now proceed to look at the functionalities of Eilisys payroll management software.

à Automatic TDS calculation

à Customize dimensions for salary JV

à Easy to integrate with the existing ERP and the financial accounting software

à Calculating arrears and regularizing leaves

à Parameter driven salary JV and income tax calculation

à Maintaining a comprehensive employee job history.

à Automating bank upload file or NEFT file in the banker’s format.

à Loan and advance tracking

à Manage attendance management, salary revisions, investment declarations, etc.

à Generating various types of professional statements such as tax statement, ESIC form 6, provident fund reconciliation statement, ESIC statement and online challan, etc.

à Report generation in multiple formats based on the departmental requirement.

Impact of Eilisys HR Management Software on Small and Mid-Sized Businesses

By now, you must have pretty much figured out how embracing HR technology can impact small and mid-sized businesses. Of course, simplifying various administrative functions are one thing, but what drives HR administrators and business owners towards technology are the long-running the impact that the system has over the entire department, and the organization in entirety.

à Operational accuracy and efficiency

à Compliance towards the organizational leave policy

à Compliance towards the government rules and regulations

à Cost-savings through the automation of a lot of manually intervened functions.

à Saves time and efforts that can be further utilized to focus on the strategic and process improvement aspect of the department.

à Retains employee and stakeholders’ trust.

What Is Hr And Payroll Software?

Human Resource (HR) Software is a software designed to help employees and organizations work to their full potential. It manages employee information as well as organizational data. HR software combines many HR functions such as automation of time-consuming manual tasks, storing and accessing information, data processing, etc.

Human Resource Software is also known as Human Resource Management System (HRMS), Human Capital Management (HCM software) and Human Resource Information System (HRIS). HR software not only saves you time but also helps the HR process to do better planning, budget management, decision making.

Features of HR Software

·     Good employee management.

·      Manual time-consuming tasks are reduced.

·      Easy and fast access to data.

·      Accurate statutory reports.

·      Helps in performance appraisal.

·      Efficient payroll management

·    Employee welfare management.

·      Reduce redundant data entry and errors.

·      Better grievance management.

·      Self-service options.

·      Reduce wastage of paper and storage.

·      Travel, loan and skill matrix management.

·      Improved participation throughout the organization, even there are multiple company locations.

·       Employee leave and attendance tracking.

·      Timesheet management of progressing tasks.

·       Increased productivity of the organization.

HR software benefits companies in many ways. This reduces the time consuming manual tasks and saves time for more productive tasks. Automated functions with HR management software allow for storing and accessing data systematically and minimizing errors of double data entry. Reduced use of paper, paper clips, ink, etc. also has space and cost savings.

Find complete HR and Payroll Software for your business. Take Trial Now. Call Us: 20 6729 5300

Best HCM Software In India

HCM Software

HCM is a set of practices designed to assist organizations to manage, develop and acquire workers, and that regards an employee as a business plus. HCM package focusses on each the executive facet of Human Resources (HR) and also the strategic facet of the business, serving to organizations to maximize business price through its folks. HCM software package uses a series of applications to assist automatize and contour time unit processes. it's generally thought-about associate degree enterprise package that's ready to proportion or down looking on the dimensions and also the wants of the organization. It offers options like time management and payroll in addition as a lot of advanced solutions like performance management and worker engagement observance.

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Best Employee Time Tracking Software In India

Regardless of which industry you work in, observing your work is an indivisible piece of your day by day obligations. You generally need to keep a hand on the work process. For this, and numerous different reasons a greater part of organizations and associations choose to execute time tracking software.

Notwithstanding how your business might want to follow and oversee worker time, Eilisys has an answer. Workers can check done progressively, enter their time physically, and utilize propelled time following highlights to tweak time passage for fields, ventures, and undertakings. Read more

Payroll Software Mumbai

Most business houses today guarantee that they pursue principles and directions set somewhere near government and semi government bodies. To guarantee that there is appropriate dispersion of pay rates the idea of employee software has been around for a lot of time. Rather than pouring over books of records the payroll software Mumbai framework truly prove to be useful. For one it ascertains the compensation structure and additionally the extra aspects identified with the space. The HRMS payroll software Mumbai is a moderately simple device to utilize notwithstanding for the not all that acquainted person. The payroll software Mumbai and Pune program not exclusively is anything but difficult to oversee yet additionally makes life extensively less demanding for both the records group and additionally the human asset advancement office. The principles for money charge continue fluctuating every now and then, and as a result of this it is a somewhat mind boggling issue with the counts. With the payroll software set up one need not worry over the modalities as TDS is consequently deducted dependent on the significant structures with a computerized mark of the organization with the payroll software Pune program set up. Read more

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We are specialized in Payroll frameworks and we convey a similar which is a Web-based finance the board programming which cares for the majority of your prerequisites identified with the administration of your worker's finance. This payroll management software has such a significant number of advantages for both little and in addition huge organizations. You can work it from anyplace because of its web support and causes your organization to coordinate all your finance forms with the goal that you can spare time on finance counts.

payroll management software

It comprises of various highlights, for example, client astute access rights, programmed pay estimation, produce PF, ESI and Tax reports, a bio-metric component so as to follow the worker in and out time and parts more. In particular, we can alter it according to your necessities. Read more