Salary Components /
Structure
User definable earning
/ deduction formula
Every organization
has a different set of salary components. Such components can be
defined by the user as a simple formula. A Formula may have a
calculation, which can be defined in MS Excel like interface e.g. If
House Rent Allowance is 30% of Basic, it can be defined as
Basic*0.30. Any number of Earning and deduction formula can be
defined in PayPac.
Formula can be absolute
/ Pro Rata
If a salary
component is to be given pro-rata to number of days in the month, it
can be defined so. Example : If Conveynace allowance Rate is 1000 per
month and a person is present only for 15 days out of 30, he has to
be paid 1000*15/30 = 500. This can be achieved by declaring
Conveyance allowance as pro-rata.
Create any complex
formula with ease
A simple interface
makes it possible for the user to define any complex formula without
needing help of any technical person. Some examples of complex
formula:
- HRA is 30% of Basic if
employee is based in metro city, otherwise 20% of Basic
Payslip / Non Payslip
Component
Components which
are non- payslips e.g. reimbursements can also be defined separately.
Such components will be taken care during processing but will not be
shown in the monthly payslips
Component periodicity –
Regular / Lumpsum
A component can be
defined as a regular item or as an one-time or lump-sum earning or
deduction. Example: Ex Gratia payment given during 20th Year of Company.
Upto
20 Earning / Deductions per employee
Each employee
can be assigned 20 Earning components and 20 Deduction components.
Statutory deductions pertaining to PF/ ESIC/ PTAX and TDS are
separately configured.
Applicability of PF /
ESIC / TDS / P Tax
At each employee
level , applicability of PF/ Pension Scheme/ ESIC and P TAX can be
defined. TDS can be configured as Manual or Automatic.
Payroll Processing
Minimum Data Entry
Salary structure
once defined is taken care during processing. Only days to be paid,
manual TDS amount, One-time component and user defined components
need to be entered for the month. Data update can be done in MS Excel
like easy screens. For employees joining / leaving during the month,
number of days get calculated automatically.
Ability to import data
from MS Excel
Any component available in MS Excel can be imported in PayPac. This facility is
very flexible and all it requires is Employee Code and the component
value. Example: if your attendance system is able to create Excel
file with employee code and Days To Be Paid, the same can be easily
imported in PayPac
Stop
Salary
If salary of an
employee needs to be stopped for some reason, it can be done. The
processing for such employee will take place in the normal way, only
such employee will not appear in any of the salary disbursement list.
Rollback
of processing
Processing of
payroll can be done for all employees, for a particular branch or for
a particular employee. Processing once done, can be rolled back any
number of times till the month is locked.
Locking of
Processed Month
Once the payroll
processing is complete and found in order, the month can be locked to
avoid any editing and consequential mismatch.
Disbursement
Direct Bank Payment
Electronic File
For each employee,
the details of direct deposit bank name and account number can be
updated. Once the processing is over, electronic payment advise file
in the required format of HDFC, ICICI, Citibank etc. can be directly
generated alongwith a covering letter.
Cheque/ Cash Payment
List
Employees desiring
payment by cash/ cheque can be updated individually and a separate
list of payments cash / cheque wise can be generated.
User Definable Payslip
layout
PayPac offers
complete flexibility in customizing payslip. The contents of header,
footer and detail area can be configured by the user. .The detail
area can have current month calculated salary with the option to
print Y-T-D salary or Components Rates.
User selectable Logo
in Payslip
One of the finest
feature of PayPac is users ability to insert company logo in the
payslip. This can be done very easily by selecting the picture file.
Payslip delivery thru
Email
Salary Payslips
can be emailed to each employee in Word or PDF format. This requires
very simple POP3 and SMTP settings, rest everything is done
automatically. |
