Why is payroll processing the most crucial task of HR?

 One of the most crucial tasks of HR is to ensure all employees are compensated fairly, to the extent of their contribution. This integral function has to be foolproof, 100% accurate, and done systematically. Do you want to do away with the huge manual work associated with running payroll?

Keep reading to find out how FlexiEle helps you automate one of the most crucial tasks of HR, with ease.

Payroll cycle and components

FlexiEle is flexible to incorporate any attendance period and salary cycle, to suit your business. You can customise the salary cycle based on your attendance closure, payroll processing timeline and salary date.

FlexiEle can incorporate any complex salary structure, any number of components, band and grade wise benefits, perquisites and tax components. Our payroll module can run payroll for multiple currencies, complying with the law of the land, for employees of different geographies at one go. We specialise in Indian, south east asian and middle eastern payroll, with numerous clients running end to end payroll successfully.

Preparing for payroll

FlexiEle payroll is well integrated with FlexiEle HRMS, which helps to fetch shift wise attendance data captured in the attendance and leave modules. The payroll module can also be integrated with any third party software, allowing seamless data flow for calculation of paydays.

Other relevant information, namely, loans and salary advances, additional deductions, salary withholding, approved reimbursements, salary revision, special payments etc. are received from HRMS and accommodated in the payroll for the month.

From the exit module of the HRMS, data related to relieved employees can be fetched, their no due clearance checked and full and final settlement calculated after reviewing approvals necessary.

The FlexiEle payroll software allows users to upload their investment declaration proofs before the cut off date, which is used to calculate tax on gross salary.

Running the cycle

Every month, during the payroll cycle the HR/finance can enable inflow of data to the specific fields, send for approval and trigger payroll for all eligible employees in one shot. FlexiEle simplifies the entire process of payroll and gives controls at each point to concerned stakeholders, to ensure accuracy.

Reporting and forecasting

Once the payroll is successfully run and salary paid to all employees, businesses will have to make payments to appropriate statutory authorities. FlexiEle payroll allows generation of PF, ESI and LWF challan, thereby enabling easier fund planning and on time statutory payments.

Employees/users can download their quarterly and annual IT returns and form 16 from the portal itself, which saves plenty of transactional work for HR.

All reports required by the management for financial planning, in terms of wage bill, salary payout, component wise payout can be obtained in a click of a button using FlexiEle.

Query resolution

Employees tend to have queries regarding their salary, which is often directed to HR, consuming most of their time after the payroll week. The smart FlexiEle payroll has an inbuilt helpdesk where employees can raise their queries as tickets and get them answered by the teams concerned, within an SLA, thus saving a lot of time.