Payroll Management System (RS – PAYSYS)
Payroll Management System (RS-Paysys) automates one of the most important and complex aspects of Human Resource Management, which is compensating the employees for their services rendered to the organization.
Salary structure and payout calculation for employees at different levels of hierarchy differ. This makes the manual process tedious, complex and prone to discrepancies. Add to this the statutory compliances required for employee compensation, like tax calculation and deductions, provident fund, ESI, bonus, ex gratia reimbursements, loans, advances etc. Further, if you have multiple branches spread across different states then you have to comply with state-specific laws too. The complete ‘RS – Human Resource Information System’ (RS-HRIS) automates the attendance and the payroll processing making it fast, accurate and flawless. Payroll Management System (RS-PAYSYS), which is one of the modules, allows you to configure the customized payroll policy salary structure for your organization based on statutory compliances. Salaries are calculated and processed automatically, facilitating ‘One-Click’ fund transfers to Employee Bank Account. Our Payroll Processing System not only makes the salary payment hassle-free but also generates several statutory documentations and customized reports related to employee compensation process, such as e-TDS Returns, Salary Slips, Digitally Signed Form 16, Reconciliation Reports, Employee Cost to the Company reports. You can choose from several insight based pre-defined report structures or generate a customized report by selecting the parameters as per your requirement. RS – PAYSYS is an invaluable asset, which makes the complex task of payroll processing automatic and free from human errors, not only saving time but also increasing employee satisfaction and motivation levels. Its seamless integration with Centralized Attendance System (RS-CATS) gives your organization a winning edge by eliminating manual processing and costly errors in managing two of the vital Human Resource Management Processes, i.e. attendance and payroll.
Payroll Management System Features
Flexible Salary Structure Customization :- RS-PAYSYS lets you configure complex salary structures by creating unlimited heads. Set different salary and payout heads for different departments and management hierarchy as per your organization policies.
One-Click Salary Payment :- Our Payroll Software not only calculates the salary payouts automatically but also facilitates automatic payments by integrating Employee Salary Accounts into the Payroll Management System. This allows you to effect salary transfers to employee bank accounts quickly.
Statutory Compliances and Documentation :- RS-PAYSYS relieve you from the complex compliance and documentation processes related to employee compensation. The dynamic tax slab allows for the declaration of Employee Investments, facilitating automatic deduction of taxes, PF contribution, ESI and other Employee Welfare Schemes based on Cost-To-The Company (CTC). The payroll management system also generates several digitally signed compliance documents like Salary Slips, Form 16, ESI Challans, e-TDS Returns, etc. in a single click.
Reimbursement Management System :- The Reimbursement management system facilitates automatic processing of reimbursement of expenses incurred by employees on behalf of the company for travel, events, and annual leave claims etc. Employees can apply for reimbursements online by filling the form and upload the scanned copies of invoices or proof of payment. The reimbursement request is available with department heads for approval, once approval is done, the payment is processed automatically, and the amount gets credited into employee’s payroll bank account.
Loan & Advance Management :- Loan and Advance Management Module allow an employee to check his advance and loan eligibility for various purposes like Home Loan, Car Loan or Personal Loan and Advance against salary. Employees can apply for an advance or loan after checking the applicable interest rate and EMI deductions from his salary. The application becomes available with the authorized person for approval. Once approved, the employee either gets the amounts credited to bank account towards the advance and personal loan or amount becomes payable to the vendor for buying a home or car etc. The advance or EMIs gets deducted automatically from the salary of an employee.
TDS Calculations :- RS-PAYSYS has a complete TDS module.
Exit Management System :- RS-PAYSYS provides a hassle-free solution for Exit Management of employee beginning from the separation request, to conducting meetings with HR, to retaining or relieving them. Our automated exit management system calculates the employee notice period and salary settlements automatically. Featuring automatic clearances and letter issuances. This takes Exit Management to a higher level of efficiency by allowing managers to concentrate more on the mission-critical HR issues rather than concentrating on last-minute employee clearances. Powerful notification dashboard helps management to recognize the reason for employee exit and make improvements if deemed necessary.
Customized Reports :– RS-PAYSYS payroll management system has several ready-made report formats for various statutory reports required for compliance and others giving valuable insights into employee compensation process of the organization. You can also generate customized reports by setting your own criteria and parameters.
With ease get the LIVE attendance from all branches and see how paydays re auto-calculated. So the complete cycle of PUNCH to SALARY is automated – giving you quick results.
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