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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