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| Payroll Module involves various functional
units of organizations such as Personal Division, Financial
Division, Accounting Division and Strategic Planning Division.
One of the major source of cash out-flow in organization
is employees’ payroll so organizations need to analyze
whether every unit of money it has invested for employees
have increased “Return on Investment (ROI)”
or not. Traditionally Payroll used to be handled by Finance
and/or Accounting Division but today the job lies more
on Human Resource Division. The module, integrating with
other modules, gives sufficient information to these divisions
for the collaboration on pay and performance improvement.
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| Dynamic setup for
new pay component : Pay
components of various nature (flat payment,
slab based payment, percentage based payment)
can be set by user themselves. It also helps
the user to define calculation formula of
a pay component. |
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| Policy wise component
mapping :
Once the component is defined with its own calculation
logic, it is mapped with employees based on payroll
policy of the company. |
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| Employee Loan and Advances
: Captures various
loans (housing loan, vehicle loan etc) provided
to employee and advances taken by the employees,
withdrawal detail and the repayment detail of the
loan. |
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| Employee Insurances
: Captures employee
insurance information and monthly premium is deducted
from salary and taken in the tax exemption criteria
as per the income tax policy of the government.
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| Arrear Calculation (Back
dated adjustment) : Arrear
Calculation (Back date adjustment) is one of the
headaches of different divisions (Personal Division,
Account Divisions etc) as a lot of factors have
to be considered while doing this calculation. Therefore
this is prone to calculation error. The Payroll
module automates this backdated calculation. |
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| Income Tax calculation
: Depending on the
fact that tax policy keeps on changing every year,
Endeavor™ HR has been developed in such a
way it could incorporate any changes in tax policy
thereby automatically generating the employee tax
without any burden at HR administration and accounting
division. |
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| Payroll Generation :
The payroll generation
cycle can be user defined (e.g. hourly, weekly,
bi weekly, monthly etc) so as per the cycle defined
for each employee it can be generated. |
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