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Payroll process presentation For Payroll Management Software

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Innovation Infosoft Technologies

Payroll Process Innovation Infosoft Technologies

Payroll Processing Payroll processing is one of the task that takes up a lot of time and demands pains taking effort. Precision is the key, all calculations have to be done on time, the correct deductions made, taxes deposited and returns filed on time and if payroll calculations are delayed or are incorrect, businesses end up paying stiff penalties something small and medium businesses and enterprises (SMEs/SMBs) cannot afford.

The best option is to say goodbye to those risks by outsourcing payroll processing to us. We offer customized payroll processing solutions to fit your requirements, leaving you free to focus on your core business.

We have strong processes, infrastructure and expertise to handle diverse payroll requirements. Innovation Infosoft Technologies

Why OutsourceReduce Costs

The direct costs of processing payroll can be greatly reduced by working with a payroll provider.

Avoid Penalties

Payroll processing involves legal compliance for TDS , PF, ESIC and P Tax. Incorrect calculations and delayed payments result in interest and penalties. In many instances, this cost immediately justifies outsourcing payroll.

Reliability and continuity

You do not have to worry about losing the employee that does payroll processing and this is a great challenge faced by organizations in today's time of high staff attrition. Outsourcing ensures reliability and continuity. Innovation Infosoft Technologies

Why Outsource Contd.Free Up Time for Core activities

Payroll processing is a time-consuming process. Outsourcing payroll can free up staff time to pursue more important value-added and revenue-generating activities.

Leverage Outside Payroll Expertise

Most business Accounts /HR Managers don't have time to keep up with constantly changing regulations, TDS rates, and legal forms. By outsourcing payroll, business can take advantage of expertise of outsourcing firm.

Automation of the Payroll Process

Because of outsourcing, the payroll process gets streamlined and to a maximum extent get automates. The software used for payroll processing sends several standard reports to employees and the HR department, which forms a good basis of control as well. Innovation Infosoft Technologies

Why Innovation

More than Two Decades of Service with most of the clients Reliability and Continuity.SEMS the most versatile Payroll software now available in various versions including fully web enabled version having more than 100 installations backed by highly efficient development team Various Web enabled modules of SEMS address highly specific requirements eg. Automation of Reimbursement, Sales Incentive and Full & Final ProcessesFast adaptability to any change with minimum turnaround timeEfficient service backed with highly skilled team and infrastructureExtremely Cost effectiveHigh data confidentiality Impeccable Track Record Innovation Infosoft Technologies

Scope of workSetup Information Various Masters Branch, Department, Designation etc. Payroll components with rules Employee Master Details Employee Salary Structure Loan Recovery Schedules Processing of data for new/existing Employees based on

Attendance sheet Change in salary structure and HR Related information Change in Variable components New Loans recovery schedules / extra recovery details. Stop Salary Calculation of TDS based on the estimations of investments received from employees Generation of bank transfer files for the credit of salary

Reimbursement Processing Full & Final Settlement Generation of reports

Scope of work

Salary processing

Receiving the monthly inputs via eSEMS Verification of monthly inputs Processing based on given inputs Verification of first cut after processing(input vs. output) (Self Audit)

Approval from HR Department Auditing by chartered Accountant Submission of Audit Report Salary disbursement Via Electronic Bank transfer

Reimbursement processing

Receiving the monthly Actual bills. Verification of monthly Actual bills based on company policy. Processing of Reimbursement Self Audit Disbursement .

Full and Final processing

Receiving the monthly inputs. Processing of full and final Self Audit Forward to concerned Department

Scope of work contd.. Reports:

Salary register for the month Variance Report With Remarks SAF Statement

Deduction reports like PF,TDS,Loan Statement. Challan's PF Form 5/10/3A/6A/12 ESIC Form 6/7

Profession tax deduction reports Tax payable report Challan 281

Other Miscellaneous Reports

Joiners report Resigned report Headcount Report Employee Related cost (ERC Report) Annual Operating Plan (AOP Report) Any Misc. Report On Immediate Demand

Innovation Infosoft Technologies

ePaySlip ModuleAfter processing of data, the output is shared with ESS(Employee Self Service) module :-The following Reports can be viewed through the employees by using their user-id and password.

Employee:- Pay slip, Tax calculation sheet with loan recovery information, Reimbursement slip are provided to employees. Innovation Infosoft Technologies

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Resignees Data

Arrear

Incentive Data Pay Process Requests

ESS Module

Tax Calculation SheetePay SlipsReimbursement Slips

eSEMS Centralized Application ServerWeb ServerInvestment DeclarationAOP( Annual Operating Plan)ERC( Employee Related Cost)Encrypted DataData Transfer

VALIDATIONSChange in Employee InformationeSEMS Payroll Process

Employee Reports ePay slip

eReimbursement Slip

eTax Calculation Sheet

Innovation Infosoft Technologies

Employer Reports Pay Reports TDS Reports PF Reports ESI Reports Leave Reports Reimbursement Report Innovation Infosoft Technologies

Display the tax estimationThe pay-slips and Tax estimation is displayed to each employee through ESS web module (includes investment feeding by employee.) with their respective User id and Password.

Innovation Infosoft Technologies

Quarterly processing Updating TDS Challan payment details Generation of eTDS Form 24Q and annual returns and forwarding the same for onwards submission Innovation Infosoft Technologies

Helpdesk 9 x 6 Customer Service. Voice Support & Mail helpdesk. Service related queries. Policy related &Database related. Complaints /Grievances. Employees Personal Information Change request Innovation Infosoft Technologies

Contact us

Address:-

Innovation Infosoft Technologies Bunglow Plot No.1,Kailash Complex ,3rd FloorPandav NagarNew Delhi-110092Office No.-+91-11-22483845ContactNo.:-91-9136836080, 91-9136155164,www.innovationinfosoft.com Innovation Infosoft Technologies

Thank You Innovation Infosoft Technologies

ePay slip Innovation Infosoft Technologies

eReimbursement Slip Innovation Infosoft Technologies

eTax Calculation Sheet Innovation Infosoft Technologies