Time To Bring Your HR On A Bump Less Ride
Dis-fellowship of papers
No more worrying about a huge stack of papers
Stay ensured with laws and policies
Automated mechanisms ensure accuracy
Best fit for every vertical
Pocket HRMS offers payroll services compatible with all businesses
What is Payroll Software?
HR Payroll Software is used to manage and streamline the process of providing salaries to the employees of a company. Organizations use HR and Payroll systems to automate the entire payroll process by implementing modules that help in calculating payments, performing statutory compliance duties, and depositing monthly payments into the designated bank accounts of the employees.
Payroll is more than just issuing paychecks though! It also involves filing taxes and managing paycheck deductions.
Cloud-based payroll software securely automates payroll calculations with 100% accuracy.. Check out all the other core features
Best Payroll Software in India
Our payroll system helps with multiple payroll processes like recruiting candidates, attendance tracking, workforce management, and much more, apart from payroll processing. Almost every HR duty can be managed by our HR payroll system.
From calculating the precise payroll amount to preparing customized templates for recruitment and managing taxes to employee data, Pocket HRMS also helps you with managing HR-related processes including talent management, employee onboarding, etc.
Similarly, it generates payslips and important reports at the click of a button on the employee's demand. Employees can upload, access, and edit their personal details on the employee self-service, i.e. ESS portal from their smartphones on the go.
Employees can also apply for leaves, check leave balances, payroll details as and when needed through their mobile app. Plus, our HR chatbot 'smHRty' acts as a virtual HR assistant to help them with their basic queries thus, saving time and efforts for your HR.
Compliance Management & Process Payroll
Our cloud payroll solution solves all your tax-related concerns at once. Be it statutory compliances or other tax concerns about employment, Pocket HRMS helps you manage all of it, thus, paving way for a smoother tax filing experience.
Automated payroll processing considers all the necessary tax deductions including TDS, PF, insurance, etc. to avoid any mistakes and miscalculations. An automated payroll solution helps with all of this as it can be set once and forgotten forever unless there are any changes to the tax system.
You can sit back without any worries related to HR and payroll processing and enjoy error-free, timely, and accurate tax and payroll computations with our payroll management system.
eTDS Form 24Q
Pocket HRMS makes the process of generating Form 24Q a lot easier. Generate challan details for 1st, 2nd, 3rd quarter, and other reported incomes on the go. eTDS Form 24Q quarterly along with Form 27 can be easily generated in our payroll system. All calculations are performed responsibly taking into consideration the latest updated TDS rules and laws.
Our accounting system even gets updated on the cloud as and when new updates are issued by the government and authorities to keep you updated with the latest changes in the tax system for accurate payroll.
Payroll Software for Small Business
Pocket HRMS is a fully scalable Payroll and HRMS software, which grows with your business. Our payroll management system lets you process payroll and other salary components as well as perform other duties while taking care of statutory compliance. In addition, it offers a choice of subscriptions to suit the budget and preferences of small business owners and startups as well. This saves money and helps our software be accessible to everyone.
With unmatched scalability, our cloud-based comprehensive solution is capable of being configured according to any business vertical. Feel free to check out our SaaS plans here.
Keeping payroll and employee-related data safe is the biggest concern for any private limited as week as public sector companies these days. Instances like data phishing and system outage can adversely affect a business. This is where our cloud-based solution comes to your rescue by keeping all of your payroll data safe and secure on cloud servers with regular backups.
Our automated cloud payroll software, Pocket HRMS provides error-free payroll reports while being completely transparent by providing information-rich payslips to avoid any doubts in the minds of the employees. As it is deployed on the cloud, it also provides seamless integration with other commonly used software with more integrations being added constantly.
Payroll Software - A Complete Guide 2021
Payroll processing becomes a draconian activity for any private limited and public sector organizations if they don't have a robust tool and right resources for automated payroll management. Accurate and timely payroll is possible when the HR manager and human resource team has robust cloud-based accounting software in place.
Cloud Technology & Mobile App play a pivotal part in the Employee Payment Revolution.
Challenges in payroll process
Salary processing is a critical yet important task for the HR operations team irrespective of the industry type. Any error in payroll calculation and other related services like wrong payroll calculations, incorrect tax deductions, attendance records errors, etc. can cost an organization dearly in the form of penalties. Also, it makes your employees unhappy!
Below is the list of some major challenges in payroll that Human resource professionals experience during the processing of employee salaries:
- Stages in Processing of Salary
- Correct employee classification
- Time tracking and attendance
- Benefits and deductions
- Tax deductions
- Salary credit
Stages in Processing of Salary
The payroll process and other related activities are repetitive, tedious and important. Hence, opting for a payroll management solution is a big relief for private limited and public sector companies. HR payroll software includes various built-in tools to support different stages of the payroll process that makes the whole activity hassle-free and quicker.
Correct employee classification
By the proper classification of employees, companies can determine who are eligible for tax exemptions and who are not. Also, it helps you issue them certain forms and you can be aware of which taxes need to be withheld. This aids a lot in making the process of calculating employees salaries automatic and easier.
Time tracking and attendance
Before calculating the final amount, you need to consider some important parameters such as loss of pay (LOP), approved leaves, unapproved leaves, reimbursements and compensatory amount (if any). HR payroll software will help in keeping track of all the aforementioned employee information and calculate the necessary employee benefits.
Benefits and deductions
Some common types of deductions are provident fund (PF), employees' state insurance (ESIC) and professional tax (PTAX). ESIC deductions vary from state to state and it covers health insurance of employees. Professional tax is the direct tax collected by the Indian government. All of these benefits and deductions dictate the various salary components which are used to arrive at the final salary figure. It requires the help of various service providers like health insurance, life insurance, etc.
Calculating precise tax deductions is necessary for future audits as it needs to be performed in accordance with the tax laws. This is very important for employers to calculate the correct amount of taxes and pay employees the exact amount to avoid penalties and legal actions. Robust HR payroll software will automate these calculations and increase the operational efficiency of the organization.
This is the payday on which the payroll team issues the payments to your employees. It is usually done via a direct deposit of the amount in the employees' bank accounts. Adequate care should be taken so that the final amount is calculated accurately and is in statutory compliance with all the existing laws. As HR processes it, there is always a margin of human error, which can be avoided with the help of good payroll software solutions.
Features of Pocket HRMS payroll software solution
- Intuitive time and attendance management
- Full email integration
- Swift implementation
- Real-time insights
- Multi-location support
- Worry-free storage
- Liberty to customize
- Paperless payroll
- Cloud availability, etc.
Benefits of cloud payroll management system
Checklist for buying the right payroll system
With technological advances, payroll processing is becoming increasingly easier to conduct in-house instead of outsourcing this procedure. Below is a quick checklist that will help employers to select the right payroll software:
Q: Can the payroll software modules help you get automatic attendance and leave reports of your employees?
A: Yes, ensure that the accounting software is available with an integrated online attendance and leave management software.
Q: Does the payroll software for small to big companies have current tax information for your state?
A: Make sure that the cloud-based payroll management software follows all statutory compliance such as current tax information of all the states from which you can manage the ESIC, statutory deductions, tax deductions, HRA, etc. of employees.
Q: Is the vendor offering a free demo or few days trial period of the of payroll software?
A: This shall give you a good idea about the software's efficiency and working before you invest in it. One should also check whether the pricing plans are scalable or not to avoid any future inconvenience.
Q: Are there any hidden fees or charges?
A: Check with your vendor whether the payroll software has any hidden charges or fees as these minor details help you keep a tab on your budget that you get from your company to purchase this software.
Q: Does payroll software offer database back-ups?
A: Being a business software for processing payroll, it should take regular back-ups that should be available with a centralised repository to recover the data in the event of data loss due to natural mishaps, hardware breakdown, etc.
There are tons of options available in the market for payroll software and increasing overall efficiency of the HR process and hence, you need to deep dive while selecting the perfect software that suits your HR and payroll needs. Different HR software comes with different pricing and a different set of features like mobile app, cloud access, etc.
Pricing can be monthly or annual, depending upon the vendor or your business. Similarly, there are multiple categories under subscriptions. They are - Standard, professional, premium or FREE trials as well. Each category comes with its unique set of modules. Check out what Pocket HRMS offers here! Also, don't forget to ask for free trials of our payroll software solution. In short, you can get the best Payroll and HR software within your limited budget!
Frequently Asked Questions (FAQs)
What is online payroll software?
The payroll system is primarily meant to handle payroll for employees. This includes tracking the time and attendance of employees, calculating arrears, and other payroll parameters like PTax, PF, etc. An online Online payroll system lets your payroll department work on the go.
What does payroll software do?
An effective payroll solution tracks payroll elements like attendance, deductions, LOP (loss of pay), remaining PL (paid leaves), arrears, compensatory amount, PF, employee tax, and similar parameters. The software then calculates the final payment based on their income and additional credit and deductions.
How much does payroll software cost?
There are a few factors that contribute to the costing of a HR Payroll software. Popular factors include compliance management and cloud availability. However, different companies offer different ranges of pricing anywhere from INR 1499 to INR 2999 per month based on their features. Some companies provide monthly subscriptions and yearly plans based on client needs. Also, you can avail FREE trial of payroll management software.
Which is the best payroll software in India?
There are finite parameters, which make a payroll solution a perfect fit for your organization. Some of the parameters include:
- Cloud availability
- Pricing plans
- Customer service
- Implementation cycle
- Mobile App
- Number of features, etc.
Pocket HRMS is one such all-in-one human capital management solution with a dedicated module for streamlining your payroll process. Check out all the features here!