In a highly automated and competitive business environment, companies look towards ROI and quick turnaround while implementing softwares. However unlike ERP, Accounting, logistics and other departments one area which is normally not "completely automated" is the payroll and the employee benefits system. This is more so due to non-availability of a standardized software product catering to this segment. Even today a lot of manual filing of statutory forms and internal reporting is being followed in large organization with a good IT infrastructure. Addressing this wide gap, PaySoft - The most comprehensive employees benefit package was introduced a decade back.

Today the product has a market lead in terms of time and comprehensiveness as it covers all the statutory reporting requirements as per the income tax rules for employees TDS (Form -16/24), provident fund (for both Un-exempted & Exempted Organizations) reports and State Insurance filings. With a strong presence in Mumbai, Nashik/Pune(Maharashtra), Delhi(North), Lucknow, Ahmedabad, Bhopal, Indore and Chennai it reduces the payroll processing work and other allied statutory reporting significantly by upto 75%.

Being highly parameterized software, it is flexible and also includes all the latest IT amendments. Having been implemented in sites ranging from 50 employees to 3500 employees, the software is the choice MNC's and various other Government and Public Sector companies.

Highlights:

• PaySoft supports
  • Multi - Company
  • Multi - Location/Site
  • Multi - User option
  • Multi - Level Security
• User defined configuration of earnings, deductions, perquisite and leaves.
• Optional Grade wise Salary Structure.
• Multiple loan types and automatic creation of deduction heads (interest and principle).
• User defined rules and company policies - Company, Department, Grade, and Location Wise.
• Integrated with Income Tax and PF calculation.
• All statutory reports as per government format (Form 16/24(eTDS), Form 3A, 6A, 12A, challans…)
• User definable perquisite registers incorporating billing details and exemption and Maintaining perquisite register for employees.
• Provision for calculation of bonus, gratuity, O.T, Leave Encashment….
• Online IT projection sheet incorporating user definable investment heads for tax planning.
• New: Electronic Filing of TDS. (eTDS of Form- 24)
• User creation and administration for user permission.
• The factor to calculate per day allowance can be defined.
• Loan and advance maintenance (With multiple loans and advance feature)
• Salary adjustment/Miscellaneous adjustment of previous month's earnings and deductions in the current month can be achieved easily.
• Retrospective calculation due to Increment , wage revision(arrears calculation)
• Month wise Head wise Arrears breakup report.
• Automatic Bonus calculation as per the bonus act and EX-Gratia.
• Transfer of employees from one location to other location and automatic salary calculations for the period at the site.
• Interface with Financial Accounting system (EX-NGN and Baan ERP).
• Interface with Time Office System.