At the present scenario, where the globalization triumphs, world is becoming competitive day by day. Almost all the organization prefers an automated tool or software to handle or deal with payroll, to maintain the records of all the employees’ error free and up-to-date. In India the payroll management is done through different software’s, by different vendors in the market. This makes the payroll process very effective and human prone errors as reduced as well. Furthermore these kinds of payroll processes saves time and money and of course gives the accurate results and helps in maintaining the records of numerous employees in daily basis as well as annual basis also.
A payroll process majorly includes the elucidation of the itemized earnings as well as the deductions, salary computation, with the provision of calculation based on rules and different formulas for every head , loan or salary management, defining template of salary for each individual’s role which is then customized using the earning and deductions of every head, calculation and generation of a standard pay slip which is based on the working days and attendance including multiple pay slip printing, maintaining the individuals payment and salary records, elucidating all break-up components in the pay slip, reports generation and last but not the least regulating the GFs and PFs of every head.
An Effective management of all these components of the payroll process as well as the accurate salary payment is one of the major responsibilities of any government body. In India there are many software’s from different vendors such as Payroll Management System developed by Bulwark Systems,Celergo Global Payroll, eGov Payroll Management System are available for streamlining the entire cumbersome payroll management processes. There is a vast variety of the different types of software for providing reliable, accurate and efficient Payroll management. One can opt for any one of them, after all payroll management system and human resources management are the backbone of any organization and country as a whole.