Payslips are an essential element for an Employees’ career because his salary related information will be provided on the Payslip with the income and deduction details based on which he can do his tax planning and arrange for declarations.
Pocket HRMS, a Cloud based HR Software provides us with a very useful configurable feature for generating Pay Slip for employees with a single click. Usually the HR has the very tedious task of generating the pay slip manually for each employee and use excel or spreadsheet for calculating the deductions. But in Pocket HRMS, the HR can generate the payslip on a single click with the help of formula based earnings and deductions – One of the many USPs of Pocket HRMS.
A payslip is a receipt like entity which defines the credited salary in employee’s salary account, these payslips can be released in both type of forms namely hard copy & Soft copy. A payslip has all kinds of deductions, additions and other implied costs by the organization.
As many organization don’t exhibit a generic pay slip structure it varies from company to company and also on the rules applied over the employee’s salary structure in an organization, the salary structure is usually broken into many components like HRA, Medical Insurance, the Provident Fund and many more, this break down defines the salary structure of the employee which varies in different organizations.
There are some rules while creating Pay Slip or you can say some information should be on Payslip
Your Payslip must show:
- Gross pay Full payment amount before any tax deduction.
- The total amount of any fixed deductions, the total amount of take-home pay,
- The amount and method for any part payment of wage
- What information should be on Pay Slip depends on your Organization or your Employer.
Pocket HRMS introduces feature of Customized Pay Slip generation. With the help of which, the user can customize the header, Earnings, Deduction and footer part of the Pay Slip. Employers can also generate category wise Pay Slip.
The organizational hierarchies can be maintained in Pocket HRMS and those hierarchies can independently access their salary info, Pay slip info and other important details regarding salary, the pay slips can be kept dependent on any authority figure like Human Resource Manager or the Company Executive which can then exercise control over the employee pay slips, the employees can also have a password protected pay slips which can and only will be accessed by the employee. User can also generate password protected Payslip from Pocket HRMS.
Pocket HRMS is a one stop solution for end to end HR Process management which will help small and mid-sized businesses for managing their employee data and automated payroll process. To know more, SMS SAGE to 56767. You can also write to Pocket HRMS’s team at firstname.lastname@example.org