Payroll Software
Payroll Automation starts with smHRt® Payroll Management Software
Quick and Accurate Processing of Salaries that fulfils Advanced Payroll Requirements & Statutory Compliance.
Payroll Processing just got SmHRter!
Simplify your entire payroll process with smHRt® Payroll, saving your time and effort.
- Machine Learning-based Payroll Processing
- Advanced Pre-Process Checks
- Support for Multiple Salary Structures
- Dedicated Formula Builder
- Automated Statutory Deductions
- Intuitive Payslip Designer
Peace of Mind Starts with Automated Compliance
Let us take care of your compliance with the statutory regulations for a stress-free experience.
- smHRt Compliance Dashboard
- All-inclusive IT Declarations
- Seamless Year-end Transfers
- Dedicated Tax Calculator
- eTDS & Form 16 Generation
On-time Salary Payments, every time!
Seems too good to be true? Well, it is possible with our advanced Next-Gen Payroll System!
- Multi-tier salary processing
- Integrated with Biometric Attendance
- User-defined Salary Heads
- Easy Arrears Calculations
- Loan & Salary Advance Integration
24/7 Remote Access with ESS Portal
Let your employees stay engaged with a user-friendly mobile app & an intuitive web-based ESS portal.
- Simplified Attendance Tracking
- One-click Payslip Downloads
- Facial recognition-based Attendance
- Expense Claims Submission
- Dedicated Help Desk
- Leave & Holiday Calendar
Make Data work for you with In-depth Analytics
Get enhanced insights into your workforce with highly customizable reports and interactive dashboards.
- Dashboard with Interactive Widgets
- Data Wizard for custom Reports generation
- MIS & Template-based Reporting
- Real-time Console with Visual Data
How does Payroll Software work?
Streamline the following steps related to your payroll processing with a payroll software
Avoid Payroll Errors with Next-Gen Features of smHRt® Payroll Software
Everything You Need to Know About Payroll Software
What is Payroll Software?
Payroll Software is a platform that enables companies to manage and pay salaries to their employees on time. As it is integrated with GPS attendance system, it improves the efficiency and accuracy of the payroll management process in organizations.
The HRMS payroll processing software also ensures complete compliance with the numerous statutory regulations, while ensuring secure storage of the company’s payroll database.
Types of Payroll Software
There are 2 types of salary payroll software commonly deployed by organizations:
In-house Payroll Software
It is the system developed within an organization to manage the payroll of its employees, providing excellent data security as the server is within organizational premises.
Cloud-based Payroll Software
Cloud payroll software is a system that is hosted on the software vendor’s cloud computing architecture, making it excellent for data retrieval at any time, from anywhere, using any connected device with secure access.
How does Payroll Software work?
The common functions of the payroll system include:
Capturing Data
The cloud payroll system captures attendance information for a specific salary cycle to gather the exact number of days or hours worked by the employees.
Salary Calculations
Payroll solutions also calculate the final salaries of the employees by adding the earnings and benefits, while removing the deductions and taxes.
Compliance Handling
It also automates the task of ensuring complete compliance with the statutory regulations as it verifies each salary against all regulations.
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.
Features of Payroll Software
Payroll Processing
The accurate processing of each employee’s payroll is the core responsibility of the payroll system. With it, HR teams can avoid manual errors resulting in an accurate payroll process.
Compliance Handling
Payroll solutions also automate the process of compliance handling by cross verifying each entry against the local and national laws related to employee payroll and taxes.
Direct Deposits
It can also transfer employee salaries to their accounts using direct deposits as banks provide dedicated APIs to interface with the payroll system.
Analytics & Reporting
Analytics and reporting are other essential features of the payroll system since they provide the company with data that can be used to determine the effective utilization of employees.
Employee Self-Service
Payroll systems also provide employee self-service portals in the form of web access or mobile apps to ensure round-the-clock remote access to their payroll data.
Benefits of Payroll Software
Accurate Payroll Calculations
Payroll systems calculate employee salaries based on custom formulae defined by the HR department while deploying the software, minimizing errors in the final calculated amount.
Compliance Automation
It completely automates the process of maintaining compliance as it throws an error any time a non-compliant value or transaction is undertaken using the system.
Increased Data Security
It also provides enhanced security for employee and payroll data with the help of highly secure military-grade encryption algorithms, as this information is sensitive for the organization.
Advanced Analytics & Reporting
It also helps gather advanced real-time analytics and generate custom reports, helping the HR make informed decisions, and stay on top of company finances and budget constraints.
Enhanced Efficiency
The payroll system also improves the overall efficiency of the payroll process by automating most of its functions, saving the productive hours of the HR team.
How to select the perfect payroll software for your business?
To find the right online payroll software for your organization, you need to follow the steps given below:
Itemize Requirements
You should start by identifying and noting down the exact requirements to be fulfilled with online payroll processing software.
Verify all Features
Next, you should check the payroll systems market for payroll systems and identify the ones which fulfil your requirements by checking whether it satisfies your requirements.
Ensure Flexibility
You should also make sure that the payroll system is highly flexible, as you would be able to replicate your payroll management process within the software.
Prioritize User Interface
You should also prioritize the user interface of the payroll solutions to be extremely simple as it is required to be used daily, especially by the HR and Accounts team.
Check out Support
Additionally, you should check out the various support options provided by the software vendor, by considering how you will contact them and what is their ‘Turn Around Time’.
Try Free Trials
Once you have finalized all the above options, you would be left with 2-3 software vendors which seems exciting enough. Hence, you should get demos and try free trials before selecting your final choice.
Top-Rated HR & Payroll 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.
#1 Choice of Industry Experts
Why Choose Pocket HRMS Payroll Software?
smHRt®
Payroll
Payroll processing that uses Machine Learning to learn your payroll pattern over time and capture errors to ensure accurate payroll disbursals.
Custom
Formulae
Dedicated Formula Builder for creating complex salary formulae, ensuring precise calculations and easier changes in salary structures.
Automated
Compliance
Completely automated compliance handling that stays updated seamlessly with the latest changes in local and national labour rules and regulations.
Integrated
Payroll
Integrated payroll processing with automated capture of leave data, attendance information, statutory compliances, monthly input, and others.
Trusted Payroll Software Across Major Cities
FAQs for Payroll Software
What is Payroll Software?
Payroll Software is a system that helps you manage employee payroll by enabling accurate calculations and automating compliances, to enable you to disburse it accurately on time. To ensure accurate payroll, modern cloud-based payroll software like Pocket HRMS utilizes advanced technologies like Machine Learning, which sifts through the payroll data and informs the user of any discrepancies such as data outliers.
According to Mordor Intelligence, the HR payroll solution market is estimated to be at USD 1.66 billion in 2024. It is expected to reach USD 2.38 billion by 2029, by growing at a CAGR of 7.49% during the forecast tenure (2024- 2029).
How is payroll calculated?
Payroll is calculated using a specific set of steps:
Collation of Attendance Data: The attendance of employees is collected and converted into net pay.
Calculation of Payroll Amounts: The net pay is converted into gross pay by adding additional salary components.
Compliance Handling: The statutory deductions are removed from the gross pay and deposited into the employee’s account.
Which software is best for payroll?
Pocket HRMS is the best payroll software in India as it provides you with the ‘smHRt Payroll’ feature, which utilizes Machine Learning to train on your payroll data and highlight any errors in it.
Is the data secure with Pocket HRMS Cloud 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 I run payroll for hourly, salaried, and contract employees?
Absolutely. Being a highly flexible system, Pocket HRMS allows you to calculate payroll for hourly, salaried and contract employees, by configuring the employee types according to your company requirements.
Can employees access their payslips and tax documents online?
Yes, Pocket HRMS comes with an intuitive web-based ESS portal which provides them access to their payslips and tax documents whenever required. We also have a dedicated mobile app which provides your employees easy access to their documents.
Can I generate custom reports for audits or internal reviews?
Yes, with a highly flexible Data Wizard, you will be able to generate custom reports for audits and internal reviews. You can even save your configuration as a template, which enables you to easily generate the same report next time with fewer clicks.
Can I customize pay components like bonuses, overtime, or deductions?
Yes, Pocket HRMS is a highly flexible payroll software that enables you to customize every component of your employee salaries, including bonuses, overtime, and deductions. You can even add formulae for their calculations, making it highly efficient.
Can Pocket HRMS Payroll Software handle multiple pay schedules?
Absolutely! Pocket HRMS is an employee payroll software which 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.
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 online Payroll Software?
The main difference between Pocket HRMS and any other cloud-based payroll system 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 smHRt Payroll, you can process your employee payroll quickly with simplified steps, as the system takes care of capturing errors for you.
