Imagine you’re working for an organisation where every month you are calculating your own pay. Then you’re getting it approved from your superior, who in turn gives it to someone else for approval and then you finally get your pay? Yeah… Who does that, right? I mean, which company would do that? None that I know of! That’s because all good companies have a pretty sorted payroll service system in place.
Payroll Services are considered to be a very important component of a human resource management system. The reason for this is that the payroll department caters to employee’s salaries and ensures the company’s compliance with various tax and legal obligations.
The term “Payroll” generally refers to the process through which companies make payment for their employees on the basis of their work. Payroll management is very crucial for a company from a monetary, accounting, and human resource perspective.
One-click payroll processing
HR application provides the best ever payroll processing for an organization. What once seemed to be an ordeal, is now made a pleasant job by doing a few clicks.
Simplified payroll data management
HR application makes payroll data management a lot easier by helping HR personnel with one-shot data upload as well as exporting data in well-organized spreadsheets.
Efficient management of full and final settlements
Dealing with full and final settlements is one of the essential steps in payroll processing. This helps in identifying employees (those who had quit the company or those serving the notice period) who need to be removed from the monthly process.
Multiple salary structure management
Each grade of employee has a different salary structure which must be tracked down perfectly. This is necessary for determining employee’s allowance, deduction, tax, etc. HR’s built-in features support this requirement of businesses in the most systematic way.
HR payroll services comes as a relief for your organization because it saves time and effort. By integrating biometric devices to attendance monitoring system, HR application makes the task of attendance data collection more simple than ever. Employee self-service feature offered by HR application helps employees to manage attendance and leave requests correctly and thus makes attendance regularization an easy task.
HR payroll software comes with automatic ‘fail-safe’ feature for critical payroll data. Only when all the necessary payroll data are available, the system proceeds to the next steps in payroll processing. Thus, HR application ensures that there is no possibility of an error during payroll execution.