EazePay - Employee Life Cycle
Manage the complete lifecycle from Payroll perspective
Payroll manager can update all details on behalf of employee and can also update salary, process increments and process full and final. From the time an employee joins till he leaves the company all aspects related to his payroll are managed.
New Employee Updation
Payroll manager can update employee's payroll details like -
- Salary structure creation
- Salary / Expense Payement: Mode, Bank Name, Branch Name, Account number, SWIFT Code
- Statutory details - PAN Number, PF Deduction Basis, PF No, ESI, Section 89 / 90 rebate, Bonus Act applicability
- Updation VPF, House rent, Other Income on behalf employee
Full and Final Processing
Payroll manager can process full and final for an employee who has resigned. Steps to folow to complete full and final are given below -
- Enter the working days for the month and then process.
- Amount for system head will come automaticaly on basis of Working days.
- Can add adhoc head manually if amount paid or deducted other than system head.
- Salary on hold for previsus month if any will paid with this fnf.
- Can download a provision full and final which can be subsequently confirmed.
Managing the employee's salary increase/decrease and change in structure. Salary revision allowed from Past, Present and Future month. Key point with salary revision are :
- If payroll or fnf is in process the employee salary revision not allowed.
- If arrear for a month and also LWP mark for that month for an employee then arrear also would be reduce for that month.
- Salary increment pdf can be sent to empoyee on there mail.
- Impact of salary rivision can be seen at the time of payroll run in salary register.
- if salary rivision is done and payroll not processed and again salary gets revised then only last update will impact salary and old change would be removed.
Advances and Loans
There is two types of loan in system -
Simple (without perquisite) - In this, amount and date from is enterered and after that it will deduct from salary in equal instalment
With Perquisite - Perquisite value is added to employee's taxable income if the loan interest rate is less than bank's interest rate
Verification of Tax, Rent, Medical etc
Verification process is used to verify supportings and update the same in the system, taxable value of salary is revised based on the verification. There are various ways of managing the verification process -
- Centrally updated by the Payroll Manager
- Employees declare in the system and then submit supporting, payroll manager verifies it