In most large and medium organizations payroll is an essential monthly activity, which is fairly routine in nature. Depending on the size and nature of the organization, this activity can be fraught with complexities related to calculations, deductions and statutory regulations.
Keeping payroll software in-house is more practical than outsourcing the task. Doing so offers a high level of flexibility, affording businesses the ability to make changes with relative ease and to keep records maintained according to their unique needs. Even tasks such as reimbursement of expenses to employees may be easier when payroll software is used. Payroll software enables companies to compute
* Salaries including statutory computation of PF and ESI
* Income Tax & maintain record of Investments
* Reimbursements as per CTC norms
* Keep track of Employee Leave taken and Loans availed
* Maintain correspondence with employees in respect of Letters and E-mail
Payroll software can be used to standardize the way a company handles the calculation and processing of its payroll. Payroll software can be utilized not only to calculate money due to employees, but also to provide for easy management of employee information and accuracy of employee data. Essentially, payroll software can help to streamline the entire process, making the task of processing payroll less time-consuming and error free
Payroll calculations relating to salaries, taxes, reimbursements and leaves can be completed in a fraction much faster than doing it manually.
Sage Pocket- Payroll software from Sage India is a widely accepted payroll solution. With over 300 customers, Sage Pocket is the most preferred payroll solution of SMEs and mid-sized companies in India.
For more information on Sage Pocket range of products visit:
http://www.sagesoftware.co.in
Author on various topics for softwares, saas softwares and cloud computing for SMEs.