Payroll Software
Advanced smHRt Payroll with Automated Compliance Handling
Quick, Accurate and Error-free processing fulfilling Advanced
Payroll Requirements and Statutory Compliance.
Streamline your Payroll Operations with Payroll Management Software
Next-Gen smHRt Payroll
Employ the Intelligence of Machine Learning to process your Employee Payroll accurately minimizing the processing time to a few minutes.
Comprehensive Payroll Overview
Quick Overview of Payroll Information for ensuring accurate payroll processing and improving visibility within ESS Portal.
Payroll Processing Pre-checks
Option to select Time Consolidation, Leave Posting, Payroll Posting, Monthly Input, Bulk Supplementary and Bulk LOP Credit.
What is Payroll Software?
Payroll software is a system that automates the entire process of payroll. It is an all-in-one solution to manage payroll and ensure that it complies with the tax and financial regulations. It simplifies payroll processing by automating employee taxes calculations, their monthly inputs for payroll processing, leave calculations and other related tasks.
Multi-Company Payroll
Manage payroll details of multiple ventures in your business using the same access for HRMS Software.
Multi-Structure Payroll
Easily create multiple employee categories for setting different payroll rules, by integrating with Leave Management System.
Conditional Formula Builder
Change salary heads with custom formulae, right from your employee management system, without depending on the developer.
Automated Calculations
Streamline payroll calculations such as arrears, provident fund, professional tax, IT, ESI, etc.
F&F Calculations
Smooth exit with automated gratuity calculations, leave encashment and asset recovery.
Background Processing
Multitask efficiently by batch processing payroll in the background to improve productivity.
Experience this Amazing Cloud-based Payroll Software for Yourself
Advanced Payroll Solution Functions for Effortless Payroll Processing
Payroll Calculations
Custom options for payroll calculations using complex formulae
Compliance Handling
Automates compliances by deducting taxes and providing benefits
Salary Disbursal
Distributes employee salaries automatically once the processing is complete.
Attendance Tracking
Tracks employee attendance for accurate payroll according to their ‘present’ days
Analytics & Reporting
Provides in-depth analytics and custom reporting options
Employee Self-Service
Employee self-service options like a web portal for 24/7 remote access to employees
Top-Rated HR Software in India
Pocket HRMS is a leading HRMS software solution provider, recognized by top-notch review platforms like ‘G2‘ and ‘Software Suggest‘ for its revolutionary features.
Download Product Brochure
Get detailed information on the numerous next-gen features of one of the most feature-rich Payroll & HRMS Software in India
New-age Online Payroll Software Features, Easy-to-use Cloud Solution
Payroll Processing
Avoid manual errors with automated payroll processing, enhancing accuracy and efficiency.
Compliance Handling
Automate compliance handling with automated cross-verification against local and national laws.
Analytics & Reporting
Quickly generate statutory reports with in-depth analytics to stay on top of salary budgets.
Time Tracking
Tracking employees’ login hours accurately, enabling accurate payroll calculations.
Secure Database
Secure confidential employee data with enterprise-grade encryption and secure access control.
Software Integration
Interface with other commonly-used HR systems for streamlined flow of data between systems.
#1 Choice of Industry Experts
Resources for HR and People leaders
Quick Payroll Features Overview
Comprehensive payroll platform that enables you to manage your employees’ payroll effectively.
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FAQs
What is Cloud-based Payroll Software?
Cloud-based payroll software is a platform which uses the cloud computing architecture to accurately calculate and process employee payroll in organizations. Since this software is deployed on the cloud, it is highly flexible and scalable, which helps it cater to a wide range of companies, ranging from start-ups to enterprises.
How much does Pocket HRMS Cost?
The Standard Plan of Pocket HRMS costs ₹2495 per month for up to 50 employees. If you employ more than 50 employees, then you can pay an additional ₹40 per employee per month to enjoy the numerous features of the Standard Plan.
Similarly, the rate for the Professional Plan of Pocket HRMS is ₹3995 per month for up to 50 employees. If you employ more than 50 employees, then you can pay an additional ₹80 per employee per month to enjoy the extra features of this Plan along with the Standard Plan features.
The most feature-rich plan of Pocket HRMS is the Premium Plan which has all the features provided in the Professional Plan along with additional exceptional features which make Pocket HRMS revolutionary software for your organization.
How is Pocket HRMS Payroll different from the other Payroll Software?
The main difference between Pocket HRMS and any other payroll software in India is the ‘smHRt Payroll®’ feature, which utilizes Machine Learning to learn your payroll patterns over time and highlight any errors in your payroll data. Using the smHRt Payroll® system, you can process your employee payroll quickly with simplified steps, as the system takes care of capturing errors.
Pocket HRMS’ payroll module also enables you to upload the attendance data from your employee records using your biometric attendance hardware. It also comes with simplified options to view each month’s payroll data as well as state-wise statutory compliance details for easier payroll processing. The system also automates the process of payslips and custom reports generation, improving the overall efficiency of the payroll processing teams.
Can Pocket HRMS Payroll software handle multiple pay schedules?
Absolutely! Pocket HRMS payroll is customizable to your exact payroll requirements. By configuring it to handle multiple pay schedules, you can process salaries and generate payslips whenever you require, ensuring complete flexibility. Additionally, processing your employee salaries through ‘smHRt Payroll’ ensures complete accuracy and enhanced efficiency.
Is the data secure with your payroll software?
Pocket HRMS is hosted on Microsoft Azure, which utilizes 256-bit enterprise-grade encryption standard to keep your payroll data safe and secure. Combined with robust uptime and architecture, Microsoft Azure has proven to be the best option to safeguard sensitive data like employee payroll information. So, yes, the data remains completely secure with our cloud payroll software.
Can Pocket HRMS payroll software integrate with other systems?
Yes, Pocket HRMS payroll software can be easily integrated with other systems as processing payroll is a complicated task and it must remain as streamlined as possible. According to the Times of India, streamlining payroll management ensures accurate and timely compensation to employees. Hence, we have developed it from the ground up keeping integration, scalability, and flexibility in mind.
Learn More About Payroll
What are the Types Payroll Software?
There are mainly two types of payroll systems that cater to various business requirements:
1. Cloud-based Systems
Cloud-based systems offer scalability and accessibility, allowing remote access and seamless updates. Being SaaS-based payroll solutions, the security of the employee data rests with the software vendor. Hence, these systems generate revenue using subscription-based models.
2. On-premise Systems
On-premises systems are set up to run from the office premises. Hence, to provide robust features, they require the right infrastructure and consistent maintenance. However, all of these costs are borne by the company themselves since they are in charge of deployment and maintenance.
How Does Payroll Software Work?
Since Payroll software manages employee payroll calculation and its accurate on-time disbursal, it undertakes multiple responsibilities associated with it. Some of the most important features of an employee payroll software include:
Capturing Data: The cloud payroll software captures attendance information for a specific salary cycle to gather the exact number of days or hours worked by the employees. Additionally, it also considers the leave details within the salary cycle to ensure accurate salary calculations.
Salary Calculations: It also calculates the final salaries of the employees by adding the earnings and benefits, while removing the deductions and taxes. By automating this process, HR personnel can ensure precise salaries with zero errors.
Compliance Handling: Payroll processing software also automates the task of ensuring complete compliance with the statutory regulations as it verifies each salary against all regulations, and entry while processing the payroll.
Salary Disbursals: It helps disburse employee salaries by generating the bank file in the format required by the banking partner of the company using the system. Some payroll solutions are also capable of depositing the salaries directly into the salary accounts of their employees.
What are the Benefits of having a Payroll Management System?
The major benefits of using a payroll management system are:
1. Time Efficiency
Since the payroll management system automates payroll processes, it saves a lot of time when compared to manual calculations. This improved efficiency translates to more time for the HR teams to be dedicated to creative pursuits.
2. Cost Savings
It also reduces the cost of payroll processing, including the need for additional staff. The cost savings also include avoidance of fines and penalties resulting from non-compliance notices.
3. Increased Accuracy
It minimizes the risk of errors in payroll calculations and tax filings, which is a major headache for the HR teams if they are processing payroll manually. Increased accuracy also helps in fewer complaints from the employees regarding payroll, which translates to better employee satisfaction.
4. Complete Compliance
It also helps ensure that the payroll calculation and disbursal process is compliant with the prevailing tax laws. Since it automatically takes care of the compliances, HRs need not fret over overpaid or underpaid taxes, and attendance irregularities.
5. Enhanced Security
It also secures sensitive payroll information through encrypted databases. Additionally, modern cloud payroll software also has user access controls, which ensure that a certain level of data abstraction is maintained between the users.
6. Employee Satisfaction
Employee satisfaction is another major benefit as it provides them with easy access to payslips and other payroll-related information. Having this information at their fingertips provides them with the peace of mind that this information is available whenever required.
What Is The Future of Payroll Software?
The future of payroll system is very exciting since it will be augmented with next-gen technologies like Artificial Intelligence, Machine Learning, Business Intelligence, and others. Famous HR software developers in India like Pocket HRMS have already introduced Machine Learning-based ‘smHRt Payroll’ that goes through your payroll data and notifies you of any outliers.
Similarly, the current cloud-based systems will also become more dynamic by being able to completely transform into seemingly tailor-made systems for each company. Along with in-depth customization options, the future of payroll systems will also consist of enhanced security utilizing the very bleeding edge of data security measures.
Who Can Benefit From Payroll Systems?
Payroll systems can be used in a variety of industries, such as:
1. Manufacturing
Since the manufacturing sector employs different categories of workers ranging from white-collar C-suite to blue-collar manual factory staff, dedicated payroll system enables them to streamline and automate the complete payroll management process. Managing the multiple wage types manually, while juggling the various shifts of the different departments takes a toll on the HR department, and hence, payroll software is a robust option for the manufacturing sector.
2. Service Industries
Similarly, the service industry also requires a dedicated payroll management system as maintaining high Service Level Agreements (SLAs) requires efficient and engaged staff, who should also be paid adequately, and on time. Additionally, since some service industries operate 24/7, it is essential to manage the shifts and pay them accordingly, considering the added statutory bonuses defined by the local laws.
3. Legal Sector
Legal offices such as a law firm, require their staff to be paid on time to maintain loyalty and having a dedicated payroll ensures on-time payroll with the added transparency of ESS portals. Hence, it is essential to deploy payroll software in the legal sector, which also improves the overall trust of the employees.
4. HORECA Sector
HORECA or Hotels, Restaurants, and Catering is another industry where payroll systems make the most sense, considering the 24/7 shifts and the different kinds of staff members involved in the daily running of the various processes. Without a dedicated payroll software, HR would also have to take care of the numerous compliances, which will surely be detrimental to the smooth functioning of the business. Hence, payroll system is a no-brainer solution for the HORECA sector.
How to select the Best Payroll Software Solution in India?
There are several factors that you need to consider when looking for the best payroll software in India. The most essential factors required for the best salary payroll software are:
➔ Software Requirements
You should determine your payroll processing requirements, including the number of employees, payroll complexity, data collection, and integration with other systems like attendance, leaves, etc.
➔ Budget
You will also have to set a budget, considering not just the initial cost but also ongoing expenses such as subscription fees, maintenance costs, etc.
➔ Features
You need to look for payroll software that offers essential features like automated payroll calculations, tax compliance, and employee self-service. On the other hand, you should also consider additional features like integration capabilities, reporting tools, and mobile access to ensure that you get the best value for your money.
➔ Scalability
It is essential to choose payroll solutions that can grow with your business, accommodating changes in the number of employees and payroll complexity. It will help you scale your payroll software according to your company’s growth.
➔ User-Friendliness
You should also ensure that the software is easy to use and intuitive, reducing the need for extensive training. It will result in an easier adoption rate and ensure minimal hurdles while deploying it.
➔ Support and Updates
You should also consider the level of customer support offered by the software vendor, as well as the frequency of software updates and enhancements. Having maximum support is essential to ensure that your business doesn’t take a hit due to any software contingencies.
➔ Security
You need to verify that payroll solutions comply with the local and international data protection laws, while also offering robust security features to protect sensitive payroll information.
➔ Integration
If you need to integrate payroll solutions with other systems like accounting software, HRMS software, etc., you need to ensure compatibility and consider the ease of integration.
What are the Latest Payroll Software Trends?
The latest trends in payroll software in India reflect the ongoing digital transformation and the need for more efficient and integrated payroll solutions. Some of the major trends in payroll solutions include:
1. Cloud-Based Solutions
Increasing adoption of cloud-based payroll software due to its scalability, accessibility, and cost-effectiveness.
2. Systems Integration
Growing demand for payroll software that seamlessly integrates with HR and accounting systems to streamline overall business processes.
3. Mobile Accessibility
The rising popularity of mobile-friendly payroll processing software allows employees to access their pay information and manage payroll-related tasks on the go.
4. Automation with AI
Use of Artificial Intelligence (AI) and automation to enhance payroll accuracy, reduce manual errors, and improve efficiency.
5. Compliance Management
Focus on compliance with changing tax laws and regulations, with cloud payroll solutions offering built-in features to ensure compliance.
6. Data Security
Increased emphasis on data security, with payroll processing software incorporating advanced security measures to protect confidential employee data.
7. Employee Self-Service
Greater emphasis on employee self-service features like mobile app and dedicated ESS Portals, enabling employees to access their payslips, tax details, and other payroll-related information anytime, anywhere.
8. Analytics and Reporting
Growing demand for payroll solutions with advanced analytics and reporting capabilities, providing insights into payroll costs, trends, and compliance metrics.
