Payroll – the lifeline of any organization and the one that causes a huge impact to the health of any organization. While most organizations prefer to keep the system independent or out-source it, having a control on the system becomes the key. Salaries happen to be the direct cost component and hence integrity and control of such systems are of utmost importance. Besides with changing statutory and regulatory changes happening, not all systems are able to keep pace with it which eventually becomes a challenge to any organization.
New age Payroll systems have the all-round capability and can provide a good amount of features that can help everything from employee entry to exit. The versatile TalenTicks takes care of these needs with ease. Features include:
- Flexibility on generating salary structures
- Updation as per Grade/Band wise salary structure
- Editable to meet all the requirements
- Seamless integration with other systems.
STATUTORY PAYROLL COMPLIANCE
EMPLOYEE PROVIDENT FUND
REGISTRATION FOR ESI
INTEGRATION WITH ATTENDANCE & LEAVE
INTEGRATION WITH ATTENDANCE AND LEAVE MANAGEMENT
THE BEST PAYROLL SOFTWARE WITH A COMPREHENSIVE LEAVE MANAGEMENT SYSTEM
All companies require an employee leave management software that’s accurate and easy-to-use. With TALENTICK, managing employee leave is effortless with an HR management software.
Our Payroll Processing features include:
- Accurate processing of financial records like alaries, wages bonuses, deductions and much more.
- Integrated with attendance management and gamification.
- Includes state-of-the-art UI that simplifies and de-jargonises the entire user experience.
- Track changes to the system and takes back up of various components threshold.
TalenTicks and MEETCS can help you getting started with their interconnected team of HR Professionals and industry experts, have a few answers ready and we’ll be on our way:
- Do you want HR services in addition to payroll?
- What industry-specific needs does your business have?
Pay Slip Generation
Accuracy in computation is a critical element and it is non-negotiable. With disintegrated systems, it becomes a challenge and at time inaccurate data can lead to disastrous results. Generate your pay slips through a secured process. Features include:
- Password protected records.
- Highest level of accuracy in computing pay slips.
- Includes statuary requirements pertaining to Provident Fund (PF), Mediclaim, Employee State Insurance(ESI) and much more
- Automated/Manual Generations according to organisation’s requirements.
High octane fuelled TalenTicks comes with multiple customizable features that can be quickly configured and to set the Rules Engine rolling and soaring the operational wings of efficiency. Ask for a Demo today!
Integration with attendance and Leave management
Organization policies keep changing to accommodate for better resource management. However not all systems are flexible enough to accommodate these changes in policies. Integration with Payroll includes:
- Pay slips generated in accordance with Work-From-Home, Work Life Balance and Flexi-Holidays data that is being fetched from other systems.
- Integrated MIS with Bio-metrics.
- Enabled Arrear calculations
- Comp-off/ Half day calculations integrated with attendance and leave management
Automation of Reimbursements and Arrear Calculations
With people on the move, it can really be cumbersome to keep updating the reimbursement request at the end of every travel. Also, when it comes to payroll, paid in arrears typically refers to when an employer pays an employee for work completed from a previous pay period instead of the current pay period Can it be simplified on every transaction and automated to make is easier on the employees to make it a hassle free experience? Yes, and we would love to provide our solution. Features include:
- Automated or manual travel reimbursement modules and Loan settlements and advances.
- Accurate “Paid in Arrear” calculations saving up to 40% of manual effort.
- Eradication of manual sending out paychecks and unnecessary man hours invested in rectifying errors in calculations.
- Integrated with Pay slip processing and generation.
According to the Payment of the Gratuity Act, 1972, Gratuity is applicable to all the establishments such as NGOs, hospitals and educational institutions with 10 or more employees. As gratuity is a fixed contribution from the side of the company, it is shown as part of the CTC and Gratuity is a mandatory part of employees CTC.
Standard Deductions (TDS and Professional Taxes)
As per Income Tax Act, 196, TDS (Tax Deducted at Source) rule gives the authority to employers to deduct a specific amount of tax before full payment to the employee. TDS rule is applicable to all the employees falling under the Income Tax Slab which varies from time to time.