That’s why RSBPL has come up with an efficient & accurate solution of taking student attendance online & in this blog we will be discussing the significance of using an attendance machine & the perks of taking online student attendance.
But the drawback of such systems are, they
- Consumes lot of time & effort
- are costly
- require management
You might be wondering if not hiring the team to solve such a challenge, then what’s the solution?
The alternative to such an approach is the payroll management system and we will be discussing why? But let’s first understand what a payroll management system really is?
What is a payroll management system?
Payroll management system is an ecosystem that is designed to streamline the HR operations such as salary calculation, tax deductions & disbursements. It consists of several components such as payroll management software, server & system integration.
While the payroll management software integrates hassle freely with other systems such as attendance management systems, payroll management systems not only opens scope for automation but also leads to efficient forms of internal communication.
How does the employee payroll management system work?
An employee payroll management system operates comprehensively to handle the payroll process efficiently within an organisation. Here’s the er diagram of how an employee payroll management system generally works :
1. Employee Data Input: The process initiates by collecting the essential information of each employee which includes their personal info, bank details, tax details, more & storing them for future access.
2. System Integration: Majorly all the best payroll management software in India allows you the flexibility to integrate other systems such as accounting & attendance management that are being active in organisations. This eventually leads to efficiency & minimises human errors
3. Wages Structure: Payroll management software grants the HR department to underline various salary components for an employee such as Basic Salary, Allowances, TDS & other deductions as well as Bonuses
3. Automated Calculation: Once the wage structure has been set by the department, the payroll management software automatically calculates salaries while considering the crucial factors such as leaves, overtime & more
3. Compliance & Tax Calculations: Payroll management software allows the owner to incorporate tax regulations & deductions such as income tax, provident fund & many more while staying updated with tax laws and employment regulations
3. Direct Deposit: The best payroll management software in India often facilitates direct deposit, transferring salaries directly into employees’ provided bank accounts which eliminates the need of manual signed checks
3. Generation of Payslips: Automated generation of payslips for each employee, detailing their earnings, deductions, and net pay. Employees can often access these payslips through a self-service portal
3. Reporting and Analytics: Robust payroll management software provides reporting and analytics features, allowing HR professionals to generate various statements & reports related to payroll, taxes, and employee costs
What are the benefits of having an employee payroll management system?
An Employee Payroll Management System offers numerous benefits to organisations. Here are some key advantages:
● Effortless Salary Calculations
● Time-Saving Operations
● Ensured Regulatory Compliance
● In-Depth Reporting & Analytics
● Enhanced Data Security
● Streamlined Direct Deposit
● Effortless Salary Calculations
● Seamless Software Integration
● Economical Cost Management
● Improved Employee Contentment
Are you in search of a Employee Payroll Management System that has all this and more?
If you are looking for an employee payroll management system for all of this & more, then you are at the right place.
RSBPL has been delivering automated solutions to various industries such as healthcare, pharma, hospitality, food & beverages, education since 1996. Our team led by Sanjive Mehta (IIT DELHI), ensures cutting edge innovation with each product we deliver.
Everything is under one roof whether it’s inhouse software, hardware or unparalleled after sales customer support.
That’s why we were trusted by brands such as HERO Motocorp, Sharda University, Apollo Hospital, Ultratech Cement, Jaypee Group & many more.