The HRMS system is developed to handle simplest as well as most complex payroll structure. So, as an organization grows, system can be easily configured to handle add-on complexity and will give optimum Return on Investment.
Friend HRM’s in memory engine ensures payroll processing in hours not in days. All the post salary generation activities like accounting and compliance can be accomplish with single click.
With enriched MIS, checking and reconciliation becomes very ease. So that user can easily check and reconcile all payroll details in minutes.
Once employee leaves the organization, his final salary is paid through Full & Final settlement. This feature of Payroll addresses all the aspects of receivable from and payable to employee like notice pay, gratuity calculation, income-tax, leave encashment, loan recovery and remaining salary. Separate F&F pay slip can also be generated.
From ESS module, employee can directly update their investments done under various section 80C, 80CCC, 80CCD, 80CCG, 10A , u/s 24 etc. The same declaration can also be uploaded by admin user from HRMS admin portal. At the time of processing payroll system internally considers all the exemption while calculating TDS for individual employees. Form16 part B and Income tax statement can also generated from the system.
Arrear can be calculated for various reasons like Attendance, Increment, Overtime and Paid Holidays. Once this payroll input is provided, system automatically calculates payable amount with retrospective effect (including past period). The Arrear can be paid through Salary, Off-Cycle or Reimbursement.
User can run off-cycle payroll process for any components like OT, Bonus, reimbursement, incentive etc. The same can be run for any missed out payment. This gives flexibility to user so that he does not need to wait for next month payroll cycle for any additional / missed out payment.
As soon as the payroll is finalized, admin can generate payslip for all, group and particular employee. Payslip can also be emailed directly to employees’ email address. Individual employee can generate payslip from ESS portal.
With range of MIS available in the system, it is very easy for user to cross verify and reconcile payroll output with past months salary at company, department, cost-center and employee level. Availability of other reports like leave valuation, Gratuity valuation, YTD detail/ summary facilitate user to extract information any time. All the statutory returns like PF, PT, E-TDS can be generated from the system in exact format desired by government body. This ensures on-time and accurate return submission.