HR Payroll Software in Mumbai

The basic dynamic plan starts with ₹60/- per month per employee, similarly there are growth and enterprise plans. Each plan consists of some additional features, you can also customize your plan as per your requirements.

For more info, you can visit – https://www.zimyo.com/pricing/

Statutory bonus is an amount that is paid to an employee in advance. According to the 1965 Act of Payment of bonus, the minimum rate of statutory bonus is 8.33% on total salary which can be maximum 20 %.

A payroll software provides a fully automated workflow for complex taxations and salary calculations. This will not only save your time but also helps in reducing manual efforts and payroll errors while measuring salaries.

Our payroll software is flexible to be designed and customised as per the client request. After analysing the client’s HR matrix and the policies adopted by the company, the developement team works on the adaptations as per the customer needs. We make sure that our payroll software completely align with the HR and finance department while integration takes place.

A payroll software can help HR leaders in effective disbursals of employee salaries and reduces errors in compliances, payroll, and expense reimbursements. However, choosing the right payroll software for your business can be a difficult task. There are many payroll software providers in Mumbai such as Zimyo payroll software that automates payroll tasks, reduces timesheet errors, and facilitates faster expense claims and reimbursements. 

There are many payroll challenges that organizations might face while processing payroll for their employees. Some of them are listed below:  

1. Inaccurate payments due to manual data entry errors and rule misapplication.
2. Difficulty in managing payroll data and tax audits.
3. Managing payroll records is a challenge and is not easily accessible. 
4. Compiling statistics and preparing payroll reports for senior leadership as a reference has proven difficult.
5. The tax computation and filing are difficult when done manually

For more information on payroll challenges, click here.

1. First of all, establish a payroll policy.
2. Then keep an eye on the various departments’ contributions such as attendance records, tax requirements, leave records, etc.
3. Gather the data for payroll processing and verify its accuracy.  
4. Run payroll calculations, including deductions and taxes.
5. Then ensure your payroll process is  statutory compliant. 
6. After that, you’ll need to enter required information into your accounting software for accurate accounting and administration.
7. The final stage is to distribute salaries to employees and provide them with pay slips. 
8. The final step involves keeping track of inaccuracies  to improve your payroll structure in the future