RS-paysys: The most Comprehensive Payroll Management System
Paysys- Payroll management System is the process of managing and controlling the various functions related to an employee’s payroll. It includes timekeeping, calculating pay rates, withholding taxes and benefits, and producing reports on the costs of labour. Employee Payroll Management System is one of the most important parts of human resource management. It’s no secret that manual payroll processes are difficult to carry out and are often error-prone. The best way to keep your business running efficiently is by automating your payroll system with a software like RS-Paysys.
What is payroll Management System?
Payroll Management System (RS-PAYSYS) is a module that allows you to configure the customized payroll policy for your organization. It uses statutory compliances and can calculate salaries and process them automatically, facilitating one-click fund transfers to employee bank accounts. RS-Paysys- Payroll Processing System is one of the most advanced and reliable tools in the market. Not only does it simplify your payroll process, but it also makes statutory documentations a breeze. It generates several reports related to employee compensation process, such as e-TDS Returns, Salary Slips, Digitally Signed form 16, Reconciliation Reports.
How can RS-Paysys help your organization’s pay roll-out?
Salary structure and pay roll-out 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. Besides, it saves your HR personnel time as well as money spent on resources to manually calculate employee pay checks and benefits.
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Why choose RS-Payroll Management system?
RS-PAYS streamlines payroll process through automation and saves employees the hassle of manually processing their own pay checks. The system will sort salary data and generate a monthly report, which can be viewed by any company employee. There are multiple features of Payroll Management System that makes it a perfect choice for your business:
- Automated Payroll every month
- Customized report
- Easy to use
payroll management system features
RS-pays is a robust, scalable and user-friendly payroll management system that has been designed to meet the demands of the current business needs. It provides an integrated solution for all your payroll requirements, which includes payroll processing and other added features like:
RS-PAYSYS lets you configure complex salary structures by creating unlimited heads. Set different salary and pay-out heads for different departments and management hierarchy as per your organization policies.
Our Payroll Software not only calculates the salary pay outs 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.
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 compliances documents like Salary Slips, Form 16, ESI Challans, e-TDS Returns, etc. in a single click.
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 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.
RS-PAYSYS has a complete TDS module.
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.
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. RS-Paysys is brought to you by the latest technology, with ease get LIVE attendance from all branches and see how paydays are auto-calculated. With
this complete cycle of PUNCH to SALARY automated – giving you quick results. You will never have to worry about payroll ever again.