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).

Which software is best for payroll in India?

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.

Payroll is the process of disbursing employees’ salaries. It begins with preparing a list of employees eligible for payment, followed by calculating salary amounts and bonuses, and concludes with recording the related expenses. This process ensures adherence to each employee’s payroll cycle and accurately applies mandatory deductions, including PF contributions, TDS, meal coupons, and other applicable components.

What are the examples of Payroll software?

Top payroll software examples include Pocket HRMS, GreytHR, ADP, SAP SuccessFactors, Keka, Workday Payroll, and Zoho Payroll. These solutions help organisations automate salary processing, tax calculations, statutory compliance, payslip generation, and employee self-service, making payroll management more accurate and efficient across businesses of all sizes.

What are the uses of payroll software?

Payroll software is used to automate salary calculations, process employee payments on time, manage tax deductions and statutory compliance, generate payslips, and maintain payroll records. It also helps track attendance and leave data, reduce manual errors, ensure data security, and improve overall payroll management efficiency.

Which are the Top 10 payroll software in India?

Here’s a list of top payroll software in India, with Pocket HRMS placed first: 1. Pocket HRMS India’s leading payroll & HRMS platform with automation, compliance, and cutting-edge AI features and functionalities. 2. RazorpayX Payroll Modern payroll with automated compliance and salary disbursal. 3. GreytHR Established payroll solution with strong statutory support. 4. Zoho Payroll Cloud-based payroll, exclusive and excellent for the Zoho ecosystem users. 5. HROne Robust compliance engine for complex payroll needs. 6. factoHR User-friendly payroll and HR suite. 7. Keka HR Intuitive payroll and attendance tracking. 8. sumHR Flexible payroll with performance and HR features. 9. Qandle Cloud HR platform with payroll and analytics. 10. Zimyo HRMS All-in-one HR & payroll solution for Indian SMEs.

How does our payroll software help startup Small, Mid and Large Level businesses?

Payroll software streamlines payroll processing for any organisation. The tool not only simplifies payroll processing but also smooths any finance-related challenges employers face during analysis, disbursing, and reviewing employee salaries. Besides, the software offers secure data management, helping organisations save time, maintain compliance, and improve overall payroll efficiency.

What are the benefits for cloud based payroll software?

Cloud-based payroll software provides anytime, anywhere access, automatic updates, and easy scalability. It minimises the infrastructure costs, comes with real-time compliance with statutory regulations, enhances data security, and minimises manual errors. With seamless integrations and automated processes, it improves efficiency, accuracy, and flexibility for businesses of all sizes.