Verification of additions to the payroll (new employees hired during the month), new hiring should be approved as per company policies/The pay scale or basis salaries shall be verified that these are according to approval or company policy.
To check that the employees left the job during the period have been properly removed from the payroll so that their salaries could not be processed as they are no longer employees of the company. Increments ,Promotions/demotions during the month- Calculate the increase or decrease in the payscale(salaries) of the employees, check the approval for the change in pay scale of the employees during the month.
Loans to employees- Verifying the additions (the employees who have been paid the loan during the month) with the approval or according to the company policies/Verifying the deletions (employee whose loans have been removed from the payroll, verify their settlements etc. /Check that loan deductions are according to standard deduction or according to loan repayment schedule etc.
Advances to employees- To verify that all advances have been deducted from the salaries of the employees who were paid the advances during the month.
Fuel/Conveyance Allowances- Calculate the additions during the month in the payroll for Fuel or conveyance allowance and verify the approvals.
Prepare analytical review report for overall payroll, e.g. comparison between the last month and current month's payroll figures indepth etc./An analytical review shall be performed over the increments processed and also it will be reconciled by adding the changes to the opening payscale (total payroll)
Incentives paid to employees- There might be any other content in the payroll depending the company's payroll structure e.g. Incentive paid to employee etc.
Payroll management is not just computing Employee salaries & employee benefits as per their CTC, but involves efficient, accurate & timely management of variable data components, viz. applicable allowances, IT deductions, Leave, ESIC & PF Contributions, reimbursements of allowable expenses, LTA, Overtime, Performance Incentives, Bonus, etc., scrutiny of supporting bills & documents, to minimize contentious issues and enhance employee confidence.
Connect-one provides an efficient interface between HR & Accounts Managers of its Clients, through a User friendly automated payroll system, with seamless and time bound processing of data and documentation, thus significantly reducing man hours & workloads of both Sections, otherwise devoted for delivering this function, resulting in cost savings.
Flexibility to add, delete or modify any number of salary components
CComputation of EPF, ESIC, IT and Profession Tax components with detailed summaries
Online IT declaration—Enables employees to post rent and savings declaration every month.
Facilitates easy access to Employees to complete information TDS calculations, tax paid and balance tax payable details.
Comprehensive income tax module for generating digitally signed Form 16 and Form 24Q.
Built-in provision to account for Stop Payments, Loss of Pay and Reversal of entries.
Computation of Full & Final Statement of Accounts in the event of de-employment.
Generating Pay slips in PDF with password protection.
Computation of arrears on applicable component/s.
Dedicated email support for any issues related to payroll compliance.
Customer can exercise the option to scale down one or more of the above features based on its HR policy. As an essential protocol, the salary statements and summary reports/statements generated are submitted to the designated officer of the Company, for scrutiny, reconciliation and formal approval, before final disbursement of salaries to the employees directly or through bank to respective salary accounts and submission of the returns to the appropriate statutory bodies.
No. 10/1, Ground Floor,
2nd Main, Nagarbhavi Main Road,
Bengaluru - 560 072
+91 - 90605 00535
080 - 2318 3398