As organizations strive to improve employee morale, job satisfaction and productivity, it becomes imperative to regularise the payroll cycles to keep them motivated. But how do you ensure that your employees receive the right salaries on time, every month?
http://www.tcsion.com/dotcom/TCSSMB/Download/FL_business%20Solutions/PayrollSolution_Flyer_A4_080911_Web.pdf
Call Girls in Dwarka Mor Delhi Contact Us 9654467111
Payroll Solution ERP on Cloud SaaS PaaS IaaS IT as a Service
1. Payroll Solution
As organizations strive to improve employee morale, job satisfaction, and productivity, it becomes
imperative to regularize the payroll cycles, in order to keep employees motivated. But how do you ensure
that your employees receive the right salaries on time, every month? How do you eliminate errors and
inaccuracies in payroll management? How do you ensure data compliance with government norms?
We, at Tata Consultancy Services (TCS) bring you our automated iON Payroll Solution to help you manage
the complete payroll cycle of your organization. Our simple, cost-efficient solution assures easy
integration with associated systems like Finance and Accounting (F&A), allowing you to focus on core
activities.
Overview Benefits
An effective payroll solution is one that ensures accuracy, We provide a comprehensive solution covering the complete
consistency, and reliability in your payroll operations. While payroll cycle, bringing you advantages such as:
helping you adhere to statutory rules and compliances, our
n deployment;
Instant
solution brings down the complexity of the payroll process and
speeds it up. This ensures minimal manual intervention from your Efficient payroll processing;
n
HR personnel, allowing them to focus on other strategic initiatives.
Our comprehensive, on–demand iON Payroll Solution has been Increased productivity of HR staff;
n
designed to offer you all this. The solution generates monthly pay
slips comprising variable and fixed components, for each Improved employee productivity;
n
employee. Taking into account investment declarations, tax Increased employee acceptance, leading to faster and more
n
deductions, loan deductions, leave encashment, claims, efficient administration;
increments and PF management; it generates yearly income forms,
maintains tax savings for your employees and projects income tax Reduced duplicate data entry and facilitation of
n
liabilities. It also calculates final settlement of all your resigned or communication;
retired employees.
Reduced risk of payroll tax penalties by accurately calculating
n
Offering add-on features, this easy-to-use offering helps : employee earnings and deductions.
nattendance and time efficiently, thus ensuring error-free
Track
payroll computation and labor management;
Compute taxes based on prevalent taxation laws, thus ensuring
n
compliance with government policies;
nearnings and deductions to meet your unique needs and
Track
formulate comprehensive in-built reports.
2. Payroll Solution Functionalities
Master maintenance Saving and income tax
Maintains employee particulars;
n n users to register the details of any
Allows
investments made for tax relaxation. The YTD
Maintains income tax parameters;
n
figures for each month are updated regularly
Maintains pay account codes;
n depending on investments till date. The monthly
deductible amount of income tax is re-evaluated for
Maintains loan interest rates;
n
each employee based on his/ her current savings.
Configure grade base / employee-specific pay
n The different attributes for tax rebates against each
codes; saving under Section 80C, 80D, etc. may be
recorded through this;
Maintains all statutory parameters.
n
Generates yearly income forms;
n
Miscellaneous payments and recovery
n income tax liabilities;
Projects
n users to register the details of sundry
Allows
transactions, which are need-based. It also gives Maintains tax savings – internal and external.
n
users the facility to rectify any errors or slippage on Provides a detailed employee wise income tax
n
payroll computations carried for previous months; calculation
n payment recoveries.
Adhoc PF and final settlement
Monthly payroll Maintains PF details for the current financial year;
n
All payments and deductions for a particular
n
Calculates gratuity;
n
employee are marked and then mapped to different
transactions for a month. After creating payroll Manages leave encashment.
n
transactions, the pay image is created to generate Manages Final settlement processing for individual
n
pay slips; as well as multiple employees
Configures payroll system;
n
Reports
Computes payroll;
n
Generates pay slips;
n
Generates payroll transaction details;
n
Generates bank / cash schedules;
n
Provides an option to undo the computation
n
Generates pay transaction details;
n
process which enables user to do required
corrections or rectifications. Generates pay register and pay variance report.
n
Month-end processing Generates all the Statutory Reports
n
n the payroll flags for continuation from next
Resets
month;
Generates salary voucher;
n
Updates monthly data like YTD figures, loan
n
balance, and installments.
nthe Payroll voucher to F&A system
Posts
3. Why iON
iON provides comprehensive solutions that address A pay-as-you-use model
varied IT requirements. From network to ERP, iON is
offered as a single service, in a pay-per-use model, This model eliminates capital investment as we
allowing you to leverage the solution’s true potential. provide the IT infrastructure and software on rent.
iON ensures integration of all processes along with You pay as you use and only for the number of users
ease of use. who actually use the software. The rent is charged
monthly. Typically, the cumulative rental for three
iON promises: years is equal to the capital cost of acquiring similar or
lesser software with one-time payment. Usually, the
nperformance in normal broadband;
High ROI exceeds rental within three months, when best
practices are well followed. The rental includes
Stringent security and data privacy;
n
maintenance and training, with no hidden costs.
Guaranteed availability (99 per cent uptime);
n
Personalised solutions
Disaster recovery;
n
Although this is a cloud service, the software is
Reduced need for IT staff.
n configurable to each business. You will always get the
flavour of your own business by picking and choosing
iON, therefore, manages your processes while you use what processes you would need.
the software. You gain from:
Automatic upgrades
Integrated solutions
We continuously invest in our solutions to ensure best
We ensure that all your solutions are connected. For practices. We enrich the software based on user
example, if you are using a CRM along with an ERP, feedback and business and statutory changes.
and have a document management system to We ensure the upgrade without disrupting the user.
organise your files, we ensure that these solutions are
connected and work as one. So for you, it is simply IT
and not applications.
Increased agility
We bring in the agility to keep pace with changing
processes or a new line of business. We help you
configure the processes to work differently or simply
choose new practices recommended by the software.
Our activation system flags on best practices while the
system is running. As you pick and choose, we give you
more options to choose from.