Small business start-up always try to cut operational expenses in-order to ensure profit margins and payroll is one of the processes, which they like to manage with less resources. Manual payroll process is a time consuming, complicated and highly calculative process. Payroll for Small Business, offer an automatic platform to keep structured employees data, manage pay structures, payroll information and generate payslips, TDS certificates etc.
Payroll for small business help entrepreneurs to streamline data related to employee general Information, define pay structure, deduction structure, employee payroll information and previous employment details. Data related to employee transfer from one department to another or one branch to another also easily manageable in the system.
While using payroll for small businesses, company admin will have to set up leave rules and categories only one time in the system. Employees will be able apply for leaves from their CP login.
Bases on leaves and attendance rules system automatically calculate working days and hr. and admin can have leave and attendance report for payroll processing.
For different grades, companies manage different pay structures. Payroll for small business offer custom pay structuring for different categories define for employee payroll. This facility not only reduce payroll processing errors, also reduce manpower involvement in payroll process.
Tax and Deduction
Payroll for small businesses enable the organization to reduce its Income Tax headaches at the end of Financial Year Closing by facilitating, PF, ESI, Professional Tax Calculation & Reports, Auto calculations of Exemptions & Deductions and compute income tax payable for the entire year & the tax to be paid each month, also have a provision to auto calculation of TDS based on Projections
Income Tax Projections with the options to deduct projected tds from Monthly Salary, Prints Form 16, 12BA & Online Challan 281, Quarterly e-TDS Return as per the NSDL format and Income Tax Projections can be emailed in PDF format.
Payroll for small business allows to define PF guidelines as they exist. In case of any changes in rules you can change them in the deduction structure and it shall get reflected in the respective reports and statutory forms. Payroll for small business also, allows to define ESIC guidelines as they exist. In case of any changes in rules you can change them in the deduction structure and it shall get reflected in the respective reports and statutory forms. It also provides a master where you can define State wise Professional Tax rates as applicable, amount wise or percentage wise.
Payroll for small business has an advanced salary processing module where you just need to select Division, Branch or Company whose salary you need to process and after clicking ‘Generate Salary’ ,within a few seconds all Employees salary is processed. You get automatic information processing for Earning and Deduction Pay Structure, Loan & Advance, Deductions, Arrears Facility,Bonus, Gratuity & Welfare Fund.