Payroll software is an automation of payroll processes and operations that assist HR
s to manage all pay related functions accurately. These payroll management software consist of various tools meant for capturing vital information and pre-defined formulae for auto-calculations. To find a best payroll software in India, consider the following features:
- Employee Master: Employee master is a centralized storage of necessary employee details along with their designation, personal details, roles and salary slabs.
- Attendance and Leave Management: Employee attendance can be captured with biometric machines integrated with the payroll software. Employees are allowed to apply for leaves that can be considered while pay processing. A record of holidays, paid and non-paid leaves can also be well maintained effortlessly with these features.
- Payroll Structuring & Processing: Pay structures can be defined for pay calculation and accounting purposes. The pay processing takes place in coordination with employee master, attendance and accounting details.
- Accounting & Deductions: All income tax forms and calculations can be managed with extensive features. Accounting operations include TDS calculation, PF, gratuity, ESI, bonus, appraisals, overtime, loans and advances along with other accounting operations.
- Payslip Generation: Payslips for the employees can be effortlessly generated in pre-defined or customizable payslip formats.
- Full & Final Settlement: On employee termination, full & final settlement of accounts is processed. Employee dues can be estimated and automated.