Payroll Management Software.

Importance

Payroll is an important activity in any organization. Payroll software has been specially designed for automating payroll system. With our payroll software, it is possible to maximize the potential of payroll through timely and accurate salary processing, efficient handling of reimbursements, loans & advances and Government of India statutory requirements including all PF and ESIC challans and TDS.

Automating payroll with payroll software will reduce the work load on administrators and facilitate confidentiality, produce error-free information and enhance speed in accessing payroll related information.

Payroll is one of a series of accounting transactions dealing with the process of paying employees for services rendered, after processing of the various requirements for withholding of money from the employee for payment of payroll taxes, insurance premiums, employee benefits, garnishments and other deductions.

Working smart and saving valuable man hours is key to our software. Our Quick Data Entry form can perform data changes to a group of employees, without having to do go through each one manually. The unique feature whereby payroll administrators have the capability to add new master data on the fly while creating a new employee profile.

Payroll Management Software

Payroll software developed by Xiphias targets small/medium/large sized companies. Now no need to buy all stationery of the Government forms. The software has incorporated all the forms which the Government of India has made compulsory for the Indian firms to adopt with respect to their employees.

The person operating the Payroll software need not spend days in the hassles that come bundled with the Payroll process. He can bid farewell to the bulky registers and come out of the gloom that used to surround him during the payroll generation. With all the payroll processes categorized, Payroll software gives a very simple interface to the end-user.

The Payroll software starts off from formation of a Company and the branch offices. Then it inputs the Employee related information and in which group company/department he is recruited. Just assign the employee a salary structure and you are ready to generate and manage payroll processes with respect to that employee. Also the end user has the flexibility to create his own salary structures and salary formulae.

The pay slip is generated after the attendance is marked for that month. ESIC and PF challans are available at the convenience of a mouse click. The payroll software also manages the Company Holidays All the reports related to company, employee, attendance/leave, payroll, Government of India forms (Forms 16,12BA etc) are generated. The MIS (Management Information Reports) are also generated by the software which gives the Management a clear picture about the Payroll and Attendance of the Employees.

Payroll Management Features

1. Flexible data entry option that lets you work in a way that makes the most sense for your business.
2. Robust functionality from basic to the very complex. Unique graphical interface will even guide you through the payroll process in step-by-step mode.
3. Complete and easy access to information, update payroll information, track trends and generate management reports on demand.
4. Unlimited numbers of salaried or hourly employees.
5. Unlimited numbers of wage/salary categories (e.g., overtime, shift differentials).
6. Powerful and Flexible Organizational Structure Module.
7. Different versions to suit different client requirements.
8. Accuracy: All the calculations are done automatically so will avoid the human errors involved.
9. Tax tables for any number of taxing entities.
10. Complete necessary paperwork with forms such as Form 16 and Form12AB preprinted forms, and tax reports.
11. Quick, easy backup of database and compacting features.
12. Multiple document interfaces allows simultaneous examination of various forms, lists, data and specifications.
13. Define the emoluments, deductions, leave, tax etc.
14. Generate Pay-Slip at the convenience of a mouse click
15. Personalized Salary Slip Printing.
16. Generate all types of important reports such as Employee details, Leave details, Loan Details, Attendance details etc.
17. Built-in calculator.

CATEGORIES

WAGE CATEGORIES

Wage categories define the various types of remuneration employees receive as a result of their employment by your company. Wage categories include cash payments paid by the company in the form of salary and wages, some types of payments made by the company that benefit the employee, cash the employee receives from others such as tips and any other type of income an employee may realize as a result of his employment that may subject to some tax. You may also wish to define wage categories so that you can distinguish various types of payroll expense for internal accounting purposes. There are two general types of wage category, Salary and Hourly. Wages designated as salary are calculated on the basis of pay periods.

1. If the wage type is hourly, payments are calculated on the basis of the number of hours worked. Hourly workers are, of course, paid using an hourly wage.
2. If the wage type is salaried, payments are fixed according to the employee's salary range.

DEDUCTIONS

Deductions are amounts subtracted from an employee's gross pay. They, along with subtractions of non-cash wages and taxes, determine the net pay (the actual cash payment) to the employee. The amount deducted from an employee's pay can be manually specified during payroll preparation or can be automatically entered into the payroll as a fixed amount, as a percentage of gross pay or as a percentage of a particular type of wage (i.e., a particular wage category).Deductions can be capped to a maximum annual amount.

EMPLOYER EXPENSES

Employer expenses are expenses incurred by the employer in the course of paying wages, salaries and benefits to its employees. They are the overhead costs associated with payroll. Setting up employer expenses may involve linking to wage, tax and deduction categories. To the extent possible, these should be set up prior to defining employer expense categories.

LEAVE MANAGEMENT

Manual calculation of leave is no longer necessary. You can predefine annual leave available to employee. Definition can be made for total leave for a year or monthly increment basis. Different type of leave management is possible like SICK; PRIVILEGE, CASUAL LEAVE and OTHERS Different leave setup for different Grade is possible. Monthly increment of leave can made possible on pro-rata basis of days present. Automatic leave balance calculation with carry forward to next year with prior setup of maximum leave. You may generate a Leave History Report for any employee. Balance Leave report.

LOAN MANAGEMENT

1. Management of different loans given to employees.
2. User definable loan name.
3. Automatic interest calculation for Loans with EMI option.
4. Auto/manual deductions from pay slip till full recovery of loan.
5. Provision of lumsum loan recovery.
6. Month wise Breakup Report for installments deducted.
7. Last balance report for loans.
8. Management of multiple of loan through single deduction from salary.
9. Auto calculation of Interest Perk (as per IT calculation).

TAXES

1. XIPHIAS Payroll uses tax categories to calculate payroll taxes that are to be deducted from employees gross pay. To set up tax categories like Tax Name, Tax Group, Tax Withholding Account. Income Tax Projection with expected TDS to be deducted from the current Month's Salary. Generation of Form 16, Form 12 BA, Challan of Income Tax.
2. Calculation for HRA, Medical, LTA etc.

PAYROLL MODULES

Administrative Module

This module include important forms such as

1. Login -This form is used for authentication purposes to verify whether he/she is the right person to access the payroll system.
2. Create User-This form is used to crate new users with security.
3. Change Password-This form is used to change the old passwords.
4. Authentication-This form provides different types of security to different types of users.
5. Database backup-This form helps to take a backup of the database easily.

Employee Module

This modules has many features such as

1. Employee Profile - This form helps to enter and save the details of all employees in a company or organization. It includes all the details like personal, company, family etc.Here the employee can be assigned slabs according to the range of their salary packages and can specify whether he/she is a part time or full time employee, their basic salary, designation, department etc.These details can be saved, viewed, updated and deleted according to the needs of users.
2. Leave Management - This form is used to enter the leave details of an employee and can save, edit, update and delete the unwanted details. This serves as an application for leaves, providing leave status such as approved, rejected and pending. It also includes the automatic calculation of number of days of leave from a particular date to a particular date. It includes the feature to specify the type of leave such as Sick leave, Casual leave, Personal leave etc.
3. Pay slip - This is the form where the employee pay slip is calculated and printed. Everything is automated in this form which lessens the manual entries and calculations. Therefore less prone to errors. This form gets the details like employee id, name, basic salary, type of wage he/she is provided with etc.It includes the automatic calculations of deductions,allowances,loss of pay etc.It also include the feature for the automatic calculation for overtime charges. You can print the pay slip within a minute with the help of this form. It includes the details of loan calculations if the employee had taken any loans. Automatic deductions from his gross salary according to the type of loan he/she has taken.
4. Pay Grouping - This form is used to maintain slabs for particular salary range. It is also used to set the maximum allowed leave,loan,allowances,deductions for a particular salary range, the taxes included for this range etc.The user can update these values if there are any need for change in taxes etc which makes the system flexible and reliable forever.
5. Department Details - This is used to enter and maintain the detail of each department in an organization.It includes the department id and the department name. This information is fetched in other forms automatically from the department table.
6. Employee Relieving Details-This form is used to calculate the loan balance, overall Pf etc when an employee retires or relieves himself/herself from the company. All the balance payments are calculated automatically in this form with accuracy.
7. Advance Details - This is used when an employee takes advance for a particular month, or in a middle of a month. This is used to calculate the net pay when the pay slip is generated for that employee.
8. Claims and Settlements - This is used to settle the amount of claims and other settlements for the employees when he/she claims for settlements.
9. Form 12BA- Statement showing particulars of perquisites, other fringe benefits or amenities and profits in lieu of salary with value thereof.
10. Form 16 - Certificate under section 203 of the Income-tax Act, 1961 for tax deducted at source from income chargeable under the head "Salaries".
11. Leave Encashment - Leave Encashment is provided to those employees who do not want leaves, of the monthly Sundays, even though there were yearly holidays provided by the company.
12. Bonus - Bonus of the employee depends upon employee's salary. According to the government's rule if the employee's salary is more than Rs 2500/ then the bonus- will be calculated on Rs 2500/, the remaining amount will get transferred to exgratia account. And if the salary is less than Rs 2500/ then, it will be calculated on the earned salary of the employee
13. Exgratia - According to the government's rule, if the total earned salary of the employee is more than Rs 2500/ than remaining amount is transferred to Exgratia account, then that remaining amount is calculated with 8.33%.
14. Gratuity - The government gives Gratuity, if the employee has not taken continuous holidays up to 5 years.
15. Provident Fund - According to the government rule, employees Provident Fund is calculated to the employees total earned salary* 12 %.
16. Employee's State Insurance Corporation (E.S.I.C) - E.S.I.C means insurance covered by the company to the employee. If addition, to the total earned salary, with all the other allowances like meal allowance, special allowance conveyance, incentive, over time, other allowance up to city allowance is more than Rs 7000/-, then E.S.I.C is not given to the employee.( If it is greater then 7500 it should take 0 & in salary slip should show exempted.
17. Tax Deducted at Source (T.D.S) - According to the government rule, employees T.D.S is calculated to the employees total gross salary* 2.5 %
18. Labors Welfare Fund - According to the government, Labors Welfare fund is provided Rs 2 if the gross salary is more than Rs 3000 else it is Rs 1 to the employee.
19. Professional Tax (P.T) - According to the government rule, employees P.T is calculated to the employees site slab. Every state has different slab, Sum of Gross Salary of 12 months, divided by 12 will give Average Monthly Gross Salary which you have to compare with that sites- states slab. You are provided with an Option for Category Wise / State wise.

Loan Module

The loan module includes the following important features.

1. Loan Application - This form is used for applying for loans. It includes the details of the employee who applies for a loan, loan amount, interest rate and the EMI for the loan amount.
2. Loan Status - This is used to specify the status of the loan applied whether it is approved, rejected or pending. It also includes the guarantor details, the amount of loan sanctioned, payment mode, EMI etc.From this pay slip can be automated easily without any manual calculations.
3. Loan Disbursement - This form includes the details of documents to be submitted by the guarantor. The employee details and the loan amount sanctioned to the employee.

Attendance Management Modules

This module has the following features.

1. Attendance Management - This is the form where the employee swipes his id card to enter the login time and the logout time based on which the number of hours worked is calculated automatically.
2. Shift Details - This form is used to enter and maintain different kinds of shifts in an organization. It includes the shift no, shift start, shift end. Each employee is assigned a shift according to his work.
3. Shift Management - In this each employee is assigned a shift. The user can also update the shifts for employees.

Reports - The different types of reports are

1. Pay slip reports.
2. Monthly salary report details.
3. Loan reports.
4. Employee details.
5. Slab report.
6. Monthly attendance.
7. Hourly pay slip.
8. Leave reports.
9. Form 16.
10. Form 12BA.
11. Form 6A (Employees Yearly PF Contribution).
12. Form 3 - (For Professional Tax).
13. Form 12A (Revised) - Employee's Monthly PF Contribution.
14. Form 3A (Revised) Details of Employees Pension Fund Scheme - Yearly.
15. Form 19 (Claiming Employees Provident Funds Dues).
16. Form 10 C - Pension (For Claiming PF Withdrawal).
17. Form - 10 (Employee's PF Organization for Resigned Employee's).
18. Form - 24 (Annual salary returns of the employees).
19. ESIC Challans.
20. PF Challans.
21. PT Challans.

Tax information

1. Income Tax.
2. e-TDS Returns.
3. Excise Duty.
4. Value Added Tax (VAT).
5. Service Tax.
6. Personal Law.
7. Company Law.
8. Forms.
9. Tax Calculator.
10. Professional Tax.