Parameters to fix PF Contribution /Deduction Rate

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.

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:

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.

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.

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

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.

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.

Once the payroll processing is complete and found in order, the month can be locked to avoid any editing and consequential mismatch.

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.

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.

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.