Posts in category: Business

Payroll processing is a vital business function that requires proper application of mind, human resources, and technology. Human Resources Management professionals consider it a pain as it needs a huge amount of effort and time to successfully maintain this regular process. Surveys have shown that HRs are stressed while handling payroll. Badly managed payroll will bring a lot of employee frustration and the spectre of non-compliance. Both these will seriously affect the growth of the business. Let’s try to understand some of the pains associated with maintaining payroll and the ways to alleviate them.

1.  Being compliant with the Statutory rules and regulations

Being compliant is one of the most important requirements in any business. The statutory rules and regulations have been enacted to provide the best working conditions and support for employees in emergencies and after retirement. The onus is on the business to adhere to these rules and regulations without deviation.

That said, there is also a need to keep in touch with the changes in these rules and regulations when they are implemented.

These rules and regulations keep changing frequently and it is very easy for the HR team to fail in updating the changes. This would create a whole lot of problems for the management as they would have to be ready with their explanation for both the employees and the authorities.

Moreover, failure to update would also entail the imposition of a penalty which could be in the form of imprisonment or fines, or both.

The deductions towards EPF, ESI, and tax payments towards TDS have to be accurately maintained for a problem-free functioning of the organization. This requires a high degree of expertise and alertness to changes in the government rules. The best option is to outsource the entire payroll processing to an experienced service provider. This would enable reducing the pressure on the in-house team. GetifyHR has been providing excellent service from their Coimbatore location to a large number of clients in this region. Their cloud-based payroll processing module uses the latest technology to handle these processes simplistically and seamlessly.

2.  Accurate calculation of salaries

Calculating the employee salaries is a time-consuming and laborious process. The payslips differ from employee to employee and will keep changing from month to month due to various factors. All these aspects have to be implemented meticulously to get error-free payslips. Handling this process manually or through in-house software may not bring in the expected results and would become frustrating for both the management and the employees.

Outsourcing this operation to a service provider would enable error-free generation of the payslips thus avoiding tensions in the workplace. The Chennai branch of GetifyHR has been at the forefront of providing excellent service in this region with its high-end technology-based payroll processing package.

3.  Tracking Time and Attendance

Maintaining the leave entitlement of employees is a tedious task when handled manually or with in-house software. Especially in an organization employing a large workforce with different shifts and leave patterns, this would become more complicated and prone to errors. How do we overcome this problem? Well, the best solution is to outsource the entire payroll process to a qualified and experienced service provider.

This would ensure accurate tracking of time and attendance as these modules rely on the latest tracking technology. The chances of errors are greatly minimized and hence would enable error-free tracking of time and attendance. GetifyHR has been providing this service from their Madurai branch to a large number of satisfied clients.

4.  Maintaining the Payroll data

All payroll records have to be maintained for many years and should be available for retrieval as and when required. Maintaining this voluminous data and retrieving them may become cumbersome over time when handled manually or using in-house software. The best option is to outsource this process to a service provider.

The advantage lies in the technology used by such vendors. Most of them use cloud-based technology and this makes it easier for accessing data from any location. Moreover, it reduces the expenses of the purchase of extra hardware in the organization.

GetifyHR, Tiruchirapalli has been providing excellent service to its clients in this region. Their cloud-based payroll module provides the ideal solution to handle all aspects of payroll processing.

5.  Assists in the administrative process

One of the biggest headaches faced by organizations is in maintaining the administrative process related to employee activities. The HR team that normally handles this process is pushed to the limits in maintaining this process. Undertaking this process manually or through in-house software has a lot of shortcomings.

Organizing all the data and filling out the regular paperwork during each payroll cycle is not an easy task. These shortcomings can be overcome by associating with a qualified and experienced service provider that is capable of handling the complexity simply and seamlessly.

GetifyHR, Vellore has been a top-notch player in this field with their cloud-based payroll module that can handle all these needs with a great deal of simplicity and accuracy.

6.  Data Security and Confidentiality

Data security and confidentiality are vital factors concerning payroll processing. The most vital information about the employees is handled here. Therefore, the onus is on the organization and the HR team to handle the data in a highly secure and confidential manner.

Employees on the other hand expect their vital data to be fully secure and confidential. Any shortcomings here would increase the chance of data getting into the wrong hands. This will cost the company dearly. One of the ideal solutions to maintain a high level of data security and confidentiality is to outsource the payroll process to an experienced service provider. They offer a high degree of data security and confidentiality by way of password protection, access control and secure storage, and adherence to all data security norms.

GetifyHR is one of the top players in payroll process outsourcing with a huge number of clients throughout the country. They bring in vast experience and use of the latest technology to provide their clients with a sophisticated package that handles all aspects of payroll processing with simplicity. All their modules are seamlessly integrated so that the required information is available in real-time.

Conclusion

The pain points of payroll processing as briefed above can be overcome by outsourcing to a qualified and experienced service provider. The package that they offer makes use of high-end technology and is cloud-based. The solution that they offer not only ensures strict compliance with the statutory rules and regulations but also provides the user with a highly integrated module that can provide the required information at the click of a button.

GetifyHR, with its highly sophisticated, cloud-based package provides a stable platform to handle all aspects of payroll processing with a great deal of simplicity and in a user-friendly manner. Associating with GetifyHR is associating with the best in the industry.

Introduction

HR’s across industries have to be on their toes to effectively navigate and manage employee leave. Many a HR’s have been frustrated by the complexity of this task and this has adversely affected the performance of the company. However, you can overcome every challenge by using the right services. In this article, we shall address the ways by which you can overcome this frustrating problem for the better functioning of the company and its employees.

Before we go into the ways by which you can overcome the problems, let’s take a look at a few challenges in navigating and maintaining your leave management.

Challenge I – Tracking Employee Leave

Keeping track of your employees leave is one of the biggest challenges faced by an employer. In most cases, this is handled by using Spreadsheets or full-fledged Leave management software. Both these methods have their inherent disadvantages. Errors do creep in and this gives out inaccurate results.

When this happens it has a negative impact on the relationship between the employee and employer and this would adversely affect the business in the long run.

Challenge II – Employee Scheduling

HR’s has to have the full picture of employee scheduling to be in a position to allot leave. This may not be possible when using spreadsheets or even custom-built leave management software. This is true, especially in businesses that have a large volume of employees on their payroll. When there is confusion in scheduling it gets reflected in the allotment of leave and this would negatively affect the workplace. Effective leave scheduling will reduce the problem and this can be achieved only when you have an efficient leave management program in place.

Challenge III – Lack of clear Leave Policy

Having a clear leave policy is a must in handling leave more accurately and effectively. The Leave Policy of the company has to be properly framed as per the work culture of the company.

Once you establish a proper leave policy, you will be able to handle the leave of employees in an efficient and non-discriminatory manner. Once this system is in place, all the issues relating to employee leave will get simplified and effort-free.

Challenge IV – Inaccuracies in the Payroll

When you have a payroll system that is prone to errors, this is reflected in the leave records of employees.

When this happens, the HR team and the employees are affected. The HR team is hard-pressed to identify the actual leave status of the employees and the employees are troubled by the inaccurate marking of leave. This leaves them both frustrated and overall it affects the functioning of the company.

These challenges can be overcome by following the tips briefed hereunder.

1.  Formulate a clear Leave Policy

This is one of the first tasks you have to do when you plan your leave management. You have to outline the leave policies for your employees. This will be based on the work culture followed by the company.

The leave policy should have guidelines that clearly set out the entitlement of leave to its employees.

The leave policy should include:

– The list of official holidays

– The types of leave available to the employees

– The leave that can be accrued and carried forward

– The leave that lapses at the end of the year

– The leave that is paid time off or not

– All other leave benefits.

2.  Be aware of the laws about leave

Companies have to be aware of the laws about leave. This may differ from state to state. All the policies that you frame must fully comply with these laws. We live in a country with a diversity of religion, language, caste, community. We should take care to see that our policies are applied consistently without showing any discrimination against any of the employees. The HR team should be fully aware of these policies so that they can handle leave consistently without discrimination.

3.  Communicate these policies to your employees

Formulating a leave policy is the first step but if the employees are not aware of it, it becomes meaningless. You have to communicate these policies to all the employees within the company. This will give the employees a clear picture of their leave entitlement and their rights. To achieve this, the HR team should be fully aware of these policies and be in a position to communicate them to all the employees

4.  Get a fully automated Leave Management System

A fully automated Leave management System is one of the solutions to overcome all these challenges. Your choice of a system that can handle the inherent complexities of leave management should be perfect as otherwise, you will land yourself in more trouble.

Select a system that can fully update leave entitlement and balances on a real-time basis. This system should have the following features.

– Fully automated system

– User friendly

– Provide relevant employee-related reports and analysis

– Track the entire performance of each employee

– Be capable of handling employees across multiple locations

– Track leave and accrual details of each employee

– Address all compliance issues.

– Take care of data security and integrity

Conclusion

A Leave Management System that can handle the requirement of the company is not the only choice available. Companies can look forward to outsourcing the entire Payroll Process to an external agency. This by far is the most ideal choice as you have to look to only one agency to get all your processing done under the expert guidance of a single source. This would in effect enable the handling of Payroll Processing, Attendance and Leave Management, Statutory Compliance issues, and Recruitment. These systems are fully integrated and automated so that every entry gets reflected in all the relevant modules. In this way, you can avoid multiple entries.

GetifyHR, one of the leading outsources of Payroll Processing provides a cloud-based system that makes use of the most advanced technology. Their system is fully automated and integrated and offers a seamless operation that can handle Payroll Processing, Attendance and Leave management, Statutory Compliance issues, and Recruitment. They specialize in meeting the most stringent requirements in Payroll Processing and offer their clients high-end services at all times.

Employee happiness is of paramount importance for the growth of a company. Happy employees contribute to higher productivity and this positively affects the growth of the company. When employees are unhappy they become unmotivated and this has an adverse effect on the growth of the company.

The COVID-19 pandemic has pushed the world into a deep crisis and slowly economies are recovering and stabilizing. The workplace has taken a serious hit forcing companies to seek alternative work arrangements. Thus work from home has become the new norm. Whatever may be the situation, keeping the employees happy and productive is vital for the growth of the company.

Why is employee happiness important?

“Happiness is when what you think, what you say, and what you do are in harmony.” Mahatma Gandhi. This is so very true of every workplace.

When the employees are happy, the workplace enlivens and becomes a place of harmony. Studies have shown that employees tend to perform better and make the right decisions when they are in a harmonious environment. A happy environment creates greater morale and this reflects on the performance of the employees. On the other hand, in a stressed and anxiety filled  workplace you can see the employees getting distracted and erring in the decision-making. Happy employees take decisions after careful thought.

When employees are happy, there are lesser chances of them quitting the job than when they are unhappy. In other words, employer retention is affected when employees are unhappy. This will create a faster turnover of employees, forcing you to keep hiring new employees instead of focusing on the existing workplace.

Happiness is an infectious emotion and is, therefore, likely to spread throughout the team. This will have a positive effect on the entire team and will boost the relationship among the employees. Happiness will increase the energy levels of the team and lead to better performance.

In general, happy employees are more loyal and committed to the company and help to motivate their colleagues to perform better. This would lead to greater productivity.

How to Keep Employees Happy and increase Productivity?

There are different ways to keep your employees happy and productive. In this article, we will look at 8 effective ways to keep your employees happy and productive.

1.  Create a flexible work environment

A flexible work schedule creates a vibrant workplace. When employees enjoy great flexibility at work, they are able to properly balance between their professional and personal lives.

The freedom to work in such an environment will lead to greater happiness and this, in turn, enhances productivity. The advantage of flexible work schedules is that employees are less stressed and more refreshed to perform their duties. This creates a happy work atmosphere.

2.  Provide for greater Career Mobility

Most employees look for career growth and lack of career mobility will discourage them from putting their best efforts at the workplace. The workplace should be a place that encourages career growth. If employees feel that their efforts will not enable them to move up the ladder, they may become demotivated.  This will force them to look for better opportunities elsewhere. No employee would be happy at a job that does not provide career growth.

Therefore, providing better opportunities for career growth is very important for most employees.  When you provide this opportunity they will work with greater freedom, take risks, come up with new ideas, seek the support of their mentors, and sharpen their skills to move up the ladder.

3.  Appreciate Employees and Reward them for their hard work

The hard work put in by an employee or their achievements have to be recognized and appreciated with a reward.  Whether big or small, the skills of an employee have to be appreciated and rewarded. This creates a sense of being wanted and motivates the employees to strive harder.

The appreciation can be handled in different ways:

– Have regular meetings to recognize and appreciate performers

– Hold reward functions to recognize this achievement

– Instruct Managers to recognize achievers irrespective of their ranks

– Team meetings should be a forum to recognize such achievers

4.  Enhance the Benefits to employees

This is a very effective way to keep the employees happy. When you instill the feeling that the company cares for its employees, they are more likely to feel comfortable and become productive. Serious thought has to be given to decide on the benefits that accrue to an employee. A strong communication has to be built with the employees to arrive at a benefit package that is comprehensive and beneficial to all employees. You can communicate with employees, hold surveys, get regular feedback and finally arrive at a benefit package that is wholesome and accepted by the employees.

5.  Don’t overwork the employees

This is very important. When you overwork your employees, you are inviting a stressful environment. Managers may find it easy to instruct their workers to stay late or skip lunch/dinner or eat at the desk to save time to complete a project. This is a counter-productive practice that would push the worker towards burnout.

So, what should you do?  The best solution is to encourage your employee to take a break from the work schedule. Managers may not accept this as they value time spent in the office as a measure of a job well done. But then if you need to create a happy workplace, you need to make such changes.

These breaks could include:

– Having a chat with a colleague

– Going out for a small walk

– Going out to the canteen for a bite.

Allowing frequent breaks may not be a good idea to follow. However, these breaks provide greater breathing space to the employees and this will refresh them and help them to work smarter and harder.  Productivity may increase due to such a change.

6.  Don’t micro-manage your employees

Micro-managing your employees will have a negative effect on their performance. No one likes to have someone keeping constant tabs on the progress of the work. Employees should be allowed to work at their own pace without constant prompting from the higher-ups. By doing so you indicate that you have no confidence in the ability of the employee to complete the task.

This will greatly demoralize the employee and ultimately productivity will suffer. When you show that you have full confidence in the ability of the employee to complete the task, you will get better results.

7.  Have a balanced work-home life

A balanced work-home life situation is primary for employee happiness. This is a very important factor in maintaining a healthy work environment.  Work-home life balance is the time one spends in the workplace and outside of work, at home with family.  This balance is crucial if you are to build a healthy environment and keep your employees happy.

Employees may experience continuous stress at the workplace and this may lead to health issues that affect the digestive system, induce psychosomatic pains, or even heart problems. This may affect the mental health of the employee in the form of depression, insomnia, or anxiety. The final verdict is burnout and when this happens employees may exhibit symptoms of fatigue, irritability, and mood swings. Burnouts do not affect the employee alone; it affects the entire team and consequently the working of the company. This may prove costly for the employee and employer by way of healthcare spending. So one area that you have to give top priority is the work-home life balance.

The imbalance in work-home life balance is contributed by:

1. Longer working days
2. Additional overtime hours.

You can off-set this can by instilling a comfortable work-home life balance within your company. You can try these options to better the situation:

– Create working hours that are highly flexible

– Measure the progress of projects not by the hours spent by employees but by actual completion of the project schedules

– Conduct a regular review to understand the workload of employees and how they are managing it

– Plan time-off policies to allow employees to de-stress

These activities will enable the employer to release the pressure of the job and contribute positively towards production.

8.  Pay salaries to employees promptly and accurately

This is a vital factor that contributes to the happiness of employees.  The most important driving force for an employee is the salary that he or she takes home and they expect this to paid to them as per schedule and without any mistakes.

Mistakes can happen not only in calculating the take home salary but also in calculating the contribution towards funds like EPF & ESI and deductions towards IT and Professional Tax.  Any inaccuracies here will have its effect on both the employees and the employer.  This would create ill-will and also put the company at loggerheads with the government bodies.  This is a sure way to create unhappiness and unpleasantness in the relationship between the employee and employer.

You can overcome this problem in two ways.  One, you can get access to a highly efficient software that can handle Payroll and Statutory Compliance in-house or two, outsource the entire payroll processing operations to an external agency.  Outsourcing the payroll to an external agency is by far the most ideal solution as it not only enables the company to disburse salaries promptly and accurately but will also handle all statutory compliance issues most efficiently and keep the company compliant, always.

By outsourcing you can:

• Save time and money
• Free your HR team from the mundane task of payroll processing and allow them to focus more on core business activities
• Generate payslips and other statutory reports with a great degree of accuracy
• Keep the company compliant of all the statutory requirements, always.

Conclusion

Companies can create happiness in the workplace by following these tips. The positivity that it creates will contribute greatly to the growth of the company. When the employees are happy they become more motivated and loyal and this, in turn, enhances their creativity and skills. The happiness of the employees is definitely the key to the growth of the company.

These 8 tips or ways to keep your employees happy and productive are all very important in varying degrees.  However, you can implement the 8^th tip only when you associate with an efficient and highly experienced outsourcer.  GetifyHR is one of the leading outsourcers of payroll processing in this region.  Their cloud-based, technology driven high-end modules offer a single point solution for all your Payroll, Statutory requirements and Employee related activities.  All their modules are seamlessly integrated and are capable of handling these operations in a simplified manner.

Payroll processing is a complex task that has to function with greater accuracy. Discrepancies in the payroll affect the business in multiple ways. Firstly it creates friction with the employees leading to a lack of understanding and cooperation and promotes ill will. Secondly, it affects the relationship with the Government authorities as the returns submitted are inaccurate. This would entail paying fines as penalties. When this happens, the company loses the confidence of its employees and the goodwill of the authorities. This will have adverse effect on the growth of the company.

Steps to process payroll with 100% accuracy:

Step 1: Deciding on the process to handle payroll processing

Payroll processing can be handled in three different ways and they are …

1. Manual Processing: Here you can use worksheets like Excel to manage payroll. For companies with a handful of employees, this may be suitable. However, for companies with a larger workforce, this not only becomes cumbersome but is also prone to inaccuracies as the chances of clerical or mathematical errors are high.
2. Using Payroll Software: When you decide to move from manual processing to using readymade or customized software, you are paving the way for an automating system that can save a lot of time and generate highly accurate reports. This will help you to avoid a lot of problems and create a better understanding with your employees and also keep the company compliant. But they do have their disadvantages.
3. Outsourcing Payroll Process: This is by far the best method to process payroll with great accuracy. Here the entire operations are entrusted to an external agency that is highly experienced in handling Statutory Compliance issues and recruitment. You achieve full automation when you associate with an outsourcer as you get a wholesome package that integrates all the modules seamlessly.

Make your choice!

Step 2: Preparing the Employee inputs:

This is a very vital step and has needs great care and accuracy. Good to remember the acronym GIGO – Garbage In Garbage Out. Check for correctness of all the data that is input. Any mistakes here would be reflected in all the information till such time it is identified and corrected.

Step 3: Ensure proper classification of employees:

This is an important step and has to be handled with utmost care. Once the employees have been properly classified according to their designations and nature of work, the tax dues, EPF & ESI deductions, overtime wages, minimum wages, and other dues are recorded. Any mistake here would entail payment of back wages and taxes and also penalties to government bodies for submission of inaccurate returns.

Step 4: Accurate tracking of Time and Attendance:

Time and attendance have to be tracked meticulously, especially for those employees who earn on an hourly basis. An efficient time and attendance software will be able to handle this task properly and can also prevent time theft.

Step 5: Achieve full automation:

When you achieve full automation, you are in effect drastically avoiding inaccuracies. Full integration of the entire module is required to achieve this task. This will enable you to achieve full automation and all the relevant information will be at your fingertips. The payslips, the Leave and attendance details, the statutory deductions, and taxes are accurately posted during the process.

Step 6: Check Statutory Compliance and Tax issues:

You must fully understand and implement all the Statutory Compliance rules and regulations. So also the IT and Professional tax dues have to be maintained. These are extremely important issues that need to be followed strictly. You should be aware of changes enforced by the authorities and be able to implement these changes as and when they announce these changes.

Step 7: Maintaining Data integrity and security:

This is critical if you are to manage payroll accurately. Constant checks to maintain data integrity and quality have to be performed.  Similarly, Data Security is important as this involves the vital data of all the employees. Careful maintenance of this aspect is important.

Step 8: Maintain regular communication with the employees:

Regular communication with your employees is a must as it will provide you with better inputs to develop the system. They can identify any lacunae in the system and this will help you to make necessary changes in the system.

Step 9: Regularly review the system:

When you regularly review the payroll system you get a better understanding of its performance and overall functionality. This will help you to make appropriate changes for greater accuracy.

Conclusion:

Payroll processing is a time-consuming and mundane task when handled in-house. If the need is to generate accurate reports and keep the company fully compliant, then the obvious choice is to outsource your payroll operations to an external agency. GetifyHR is one of the leading outsourcers of payroll processing in the country. Their cloud-based payroll system is fully integrated and provides highly accurate information to the company and its employees. The system also very meticulously handles all the compliance and tax issues.

Introduction

The COVID-19 pandemic sweeping the world has affected all walks of life. Businesses have also felt the impact of the pandemic and have been forced to make drastic changes in their workforce. Work-from-home has become the new norm during the past two years. This has also forced governments to amend the statutory compliance rules and regulations in line with the changed conditions.

Payroll processing and keeping the business compliant with all the statutory rules and regulations has been an onerous task and businesses have looked at different options to maintain these. Outsourcing these operations to a genuine service provider is the ideal solution under these circumstances.

The current scenario has forced companies to find new ways to overcome issues pertaining to the workforce and this has put tremendous pressure on the HR team. Staff attrition rates are on the rise and it is becoming even more difficult to handle employee issues especially when your workforce is spread over different locations and in different states. In this article, we shall discuss 7 reasons for outsourcing your Statutory Compliance in 2022.

Reason-1: Keeping the company compliant, always!

This is one of the most important reasons to outsource statutory compliance tasks to an efficient and qualified service provider. Statutory rules and regulations are prone to frequent changes and companies must keep themselves abreast of these changes as and when they are made.

This is especially true during the pandemic and its aftermath. These changes have created a lot of headaches for companies that have maintained their Payroll and Statutory Compliance in-house. When you associate with an outsourcer you can rest assured of being fully compliant as they bring in their vast experience and knowledge of the field.

Reason-2: Save Time and Money

Outsourcing Statutory Compliance can save a lot of time and money. The service provider will maintain all the records and keep the company compliant, and this is irrespective of any changes that may have taken place in these rules and regulations. Handling these operations in-house would require an expert team and would, therefore, takes up more working hours and also pushes up the cost.

Outsourcing is, therefore, cost-effective and time-saving.

Reason-3: Creates better work atmosphere

Outsourcing your Statutory Compliance tasks to a service provider, assures you of getting the task completed without any errors. This is what the management and the employees need. The employees, therefore, do not have any issues with the management with regard to their contributions and deductions. This paves the way for greater cooperation between the management and employees. The workplace becomes more harmonious and this, in turn, would create greater growth.

Reason-4: Frees the HR team

Freeing the HR team from mundane work and allowing them to concentrate on core business activities is the ideal situation that any management would look for. By outsourcing Statutory Compliance to a service provider, you are doing just that. Statutory compliance is a very critical aspect that requires expert handling. The HR team would be hard-pressed to maintain these requirements and it would naturally take their time and effort to fulfill these tasks.

When you relieve them from these tasks, you are in effect freeing them to concentrate more on core business activities that would help to grow the business. This would surely help the company to reach its target much more smoothly.

Reason-5: Assists the Accounting Department

When you outsource to a service provider, your payroll and statutory compliance requirement function very efficiently. The data generation is accurate and effort-free. This accurate information is directly available to the accounting department so that accounts reconciliation can be performed without much complication and the need for additional data entry. All accounting entries get directly posted in the accounting modules as they are fully integrated with the payroll and statutory compliance modules. This will save a lot of time and effort.

Reason-6: Ensures regular filing of statutory reports and Tax filing

Outsourcing your statutory requirements assures you of regular filing of all the statutory forms within the stipulated period. This assures regular remittance of the contributions from the employees and employer within the scheduled period.   Similarly, the handling of Tax filings and payment of tax dues will be regularized. This would enable the company to avoid fines and penalties due to late or wrong filings

Reason-7: Provide a high level of Data Security and confidentiality

Outsourcing to a service provider will ensure greater security of vital data. There is a reduced risk of mismanagement of funds and identity theft.  With in-house maintenance of these tasks, there is a greater chance of tampering of employee data.  Outsourcing prevents this possibility.

Conclusion:

Outsourcing your Statutory Compliance requirements has tremendous benefits for the company. Simply put, you can avoid a lot of headaches by keeping the company compliant with all the rules and regulations. When experts handle these issues, you are assured of greater cooperation with the employees and lesser issues with the Government authorities.

GetifyHR has earned a reputation for excellent service and its efficient handling of all Statutory Compliance requirements. During the pandemic, she has stood steadfast with her clients spread across the country and enabled proper handling of all regulatory issues excellently.

The changes brought on due to the pandemic and the new Labour Reforms that are being implemented by the Government of India are creating problems for business. However, we have been able to provide our clients with the best support to overcome these difficulties. Today, GetifyHR ranks among the very best Payroll and Statutory Outsourcing companies in India.

What are e-nomination and its importance?

Nomination is a process to select one or more nominees as beneficiaries to receive the proceeds from EPF, EPS & EDLI on the demise of the member. The nominees could be the spouse, parents, children, and in some cases distant relatives and friends as given below.

A male EPF member can nominate his spouse, children, step children, dependent parents and his deceased son’s widow and children.  In the case of a female member, the nominee can be her husband, children, (whether married or unmarried) her dependent parents, her husband’s dependent parents and her deceased son’s widow and children.  The member can nominate only one or more persons belonging to the family.

Nomination made in favour of a person outside of the family is treated as invalid.  In case the member does not have a family at the time of joining EPF, he can nominate any other person or persons as nominee.  However, if subsequently the member acquires a family after some time, then the earlier nomination will become invalid and he has to make a fresh nomination in favour of one or more persons within the family.

If a member who is married nominates his or her spouse as nominee and subsequently if they get divorced, then he or she has to change the nomination as the earlier nomination becomes invalid.

For the EPS scheme a married member can nominate only his or her spouse and children.  In case the member has no family and has not made any nomination then the claims will go to the legal heirs.

The EPFO has been providing guidelines on e-nomination and its importance in the light of the Covid-19 pandemic sweeping the country.  The Covid-19 pandemic has pushed dependents of EPF members into deep trouble as they could not claim settlement due to the non-filing of nominees in the concerned accounts.

Nominating a person to receive the proceeds from EPF, EPS, and EDLI is of utmost importance. Earlier members had to file Form-2 with the respective PF Office, but the Digital India programme has changed all that. A member can now sit in his home and update the nominee details in just a few minutes without any complications. With e-nomination, the members who have not submitted their nominee details can easily execute this important step. Under the present situation, this is a great boon to members and their dependents. This will surely go a long way in ensuring speedier settlement of claims in the event of the demise of a member.

How to file e-nomination?

Visit the EPFO website at www.epfindia.gov.in and select Services  >>  For Employees  – then click on “Member UAN/Online Services”.

• Login with your Aadhar linked UAN and password
• Select ‘e-nomination’ on opening the “Manage” tab
• Enter all the details in the ‘Provide details’ tab and click on ‘Save’ button
• To update family declaration click ‘Yes’
• Click on ‘Add Family Details’ and furnish the required details
• Click on ‘Nominee Details’ and provide the details and click on ‘Save EPF Nomination’
• Next click on ‘E-sign’ to generate OTP on your registered mobile phone
• Submit OTP sent to your mobile number (has to be linked with Aadhaar)
• On successful verification, your e-nomination will be registered with the EPFO.
• Documents required to be uploaded – Member Aadhaar with updated photograph and Nominee Photograph, Aadhaar and Bank details with IFSC code and address for both member and nominee.

Last date for filing nominee details

December 31, 2021 was reported to be the last date to update nominee details through the e-nomination portal. However, EPFO has clarified that one can update the nominee details even beyond December 31, 2021, and that no deadline has been set for the same as of now.

GetifyHR is fully geared to assist employers and through them the employees to update nominee details. Our Payroll Module has been fully updated to handle this issue in an easy and simplified manner. You can trust us to be with you always!

Ask any HR Manager and he will tell you that the most valuable resource in the organization is the employees. Managing them resourcefully will bring success, whereas poor management of this resource will bring failure. How do you manage this resource? Well, the answer is simple. If your attendance management is poor and leads to frustration, you can be sure that the productivity of the company suffers and this will lead to reduced profits.

What you need is an efficiently performing attendance management system that can improve the overall efficiency.

This concise Q & A session will give you a clear picture of how to improve productivity by efficiently managing your employee attendance.

What is the ideal way to manage employee attendance efficiently?

A poorly managed attendance Management will negatively affect the payroll.  Any errors in your attendance will result in either over-paying or underpaying your employees. When you are manually managing the attendance you not only consume more time but are also prone to serious errors. If your workforce is large and spread over different locations, then you can imagine the problems this would cause to your payroll and the ramifications thereon.

Using custom-made software or other applications will not improve the situation much. The most effective solution is to take the services of an outsourcer offering Payroll Software that is fully integrated with HR Management. The attendance module in this package will process the data and provide error-free calculation of working hours, overtime, and loss of pay details. This will make payroll processing easier and simpler and provide highly accurate output.

Why is it important to have a clear Attendance Policy?

Formulating a clear Attendance Policy is the first step in managing your attendance effectively, and this is one of the biggest problems faced by companies. When you don’t have a clear Attendance Policy, you will not be able to regulate attendance effectively. By using a software or application, you will not be able to manage attendance properly as they are time-consuming and prone to errors.

The ideal solution is outsourcing. When you outsource these operations to an efficient service provider, you can rest assured of a high-performing system that will give error-free results. When you outsource, you will be able to formulate a clear Attendance Policy. By doing so you will be able to arrange the shifts, shift timings, week-off policies and create attendance regulations for each employee based on the nature of duty. This paves the way for systematic and error-free attendance management and relieves the management from a lot of stress.

Do you feel that lack of efficient connectivity is creating confusion for both the employees and the management?

Lack of proper connectivity affects both the employees and employers. For employees, the need is to have their attendance details easily accessible and at the required time. This will not be possible when you are using software or application that has their limitations. With an outsourced, cloud-based package you can be assured of an application that is accessible from any device. Mobile connectivity is the need of the hour and this is what you get when you outsource to an efficient Service Provider.

Easy access to attendance reports using a Smartphone will enable the employee and employer to access valuable information on the move. These applications are provided with an efficient ESS portal that allows access to data from anywhere. Location-wise, shift-wise information is now at your fingertips.

Are you in a situation where you are not able to keep track of your employees?

This is a situation that many employers find themselves in especially when there is a distribution of workforce across different locations. Custom-built software or applications will not be able to handle this aspect effectively.

If you are looking to keep track of all your employees and gauge their performance, then the ideal solution is to outsource to a Service Provider.

When you associate with a Service Provider like GetifyHR, you are associating with a high-performance cloud-based tool that keeps perfect track of all your employees on a day-to-day basis. This system is supported by Geo-tracking and Geo-fencing facilities, and this helps to locate each employee concerning the location he or she is posted. The log-in and log-out times are properly recorded and with the integrated Biometric that is in-built, the performance of each employee comes under minute scrutiny. The HR team will have access to records that allows them to make the right decisions on the allotment of work to the right employees in different locations.

Conclusion

An efficient Attendance Management system is the best solution to avoid employee-related issues. Present-day businesses are in dire need of a perfectly working application that integrates Payroll, HR management, Attendance & Leave Management, and Statutory Compliance rules and regulations. Only then can the management and employees work cohesively for the growth of the organization.

GetifyHR with its proven experience and professional approach in handling these tasks is the ideal choice to associate with. Our cloud-based application can seamlessly handle Payroll, HR management, Attendance & Leave management, and Statutory Compliance requirements with perfect integration.

Leave management is a highly challenging task that can frustrate even the best of HR Managers. The use of outdated processes worsens the scenario and you are left with anxiety and frustration on both the employer and employee sides. The use of outdated tools and manual errors that creep in while entering the data gives room for inaccuracies. There is nothing worse than seeing inaccuracies in one’s leave balances.

This would create chaos for both the Administration and the employees and will have a negative impact on the business.

What is Leave Management?

Leave management is a set of processes that tracks the employee leave in an organization. Right from receiving the leave application, leave approval or rejection and tracking of employee leave is a task that needs a high degree of perfection. The task includes routing the application through a hierarchy of decision-makers, taking the decision and notifying it to the employee, updating the payroll and the employee attendance records, and the company’s leave policies.

This article discusses a few of the challenges faced by employers in managing employee leave.

1.  Are Employees aware of the number of leave days they have left?

No. Most employees are not aware of their leave dues. This is one of the biggest challenges faced by the employer, a challenge that both the HR team and the employees are left searching for an answer. The reason is that it is pretty difficult to keep track of the number of days left when you use outdated applications. When an employee is not aware of the number of leave days he has, he will send a request to the HR team to get the answer. This prevents them to plan their activity as the answer has to come from the HR team. This takes time and in the meantime, the employee stands to lose time and money.

During this process, the HR team will be flooded with leave applications and will lose valuable time confirming the leave dues of each employee. This will reduce their time and business activities and become frustrating for both the HR team and the employees. The ideal solution in this situation is to outsource Leave Management to an efficient service provider who can handle all aspects of Payroll including Leave management.

GetifyHR is ideally placed to provide this service with its efficient cloud-based payroll application.

2.  Do Inaccuracies in the Payroll create problems in managing leave?

Yes. Inaccuracies in payroll do create problems in managing leave. When we use outdated applications, the possibility of errors creeping in is high. The Payroll reflects such errors in the Leave management module.  This will create more problems for both the HR team and the employees. For example, in cases where some leave are paid and some unpaid, if improper entries are made then you are sure to get inaccurate reports. You will not be able to confirm the dues correctly and this will lead to confusion and distrust between the employer and the employee.

The only solution is to opt for an outsourcing module that provides a full-fledged automation system that seamlessly integrates all the modules of Payroll, HR management, Attendance and Leave management, and Statutory Compliance. This will help you to maintain greater accuracy and make your payroll and leave records error-free.

3.  Does following a proper Leave Policy assist accurate leave management?

Yes, maintaining a proper Leave Policy will help you to handle leave much more accurately. The Leave Policy of each organization has to be properly framed according to the work culture of the company. Once this is properly established, you will be able to handle the leave of employees in a perfect and non-discriminatory manner. This leave policy has to be shared with each employee so that they are fully aware of their leave dues. The moment such a system is in place, and then all the problems associated with employee leave will become simpler and error-free. This will also enable proper scheduling or re-scheduling of leave according to the needs of the employees.

4.  Does an inefficient Leave Management System leave the employer and the employees frustrated?

Yes, when you depend on an inefficient Leave management system both the employer and employee are frustrated. The frustration stems from the inadequacies in the leave management system and the unintentional errors in data entry that give erroneous reports. Some companies still depend on spreadsheets and other outdated applications that prove to be inadequate to handle leave. This creates a lot of confusion when a leave request is made and what we get are a highly frustrated employee and an apologetic HR team.

This is not a happy situation to be in and the only solution is to outsource your payroll to an efficient service provider. GetifyHR with its vast experience and backing of a professional team is the ideal choice in this situation.

Conclusion

We have highlighted the importance of an efficiently working Leave Management module if you are to avoid leave related problems with your employees. Under the present scenario, the ideal choice is to outsource this task to a reputed service provider. Present-day business requires a Payroll and HR management system that can not only handle Payroll but also HR activities like Attendance and Leave management and Statutory Compliance issues.

Choosing a cloud-based application is ideal as it is not only efficient but also reduces the expenditure on special hardware. GetifyHR, with its proven experience and professionalism, offers the ideal tool to handle these tasks. The outsourcing application offered by GetifyHR can seamlessly handle Payroll, HR Management, Attendance & Leave Management, and Statutory Compliance requirements.

Payroll Management is a time consuming and tedious process when attempted manually.  The inaccuracies that creep in will not only create greater headaches for the management, but will also provide ammunition to the employee to question them.  This would create mutual distrust and lead to production losses.

Being a highly critical operation in any business, the payroll operations can be efficiently serviced by outsourcing to professional service providers.  Payroll outsourcing provides great benefits as it not only brings greater accuracy in the rather mundane task, but also enables the HR team to focus on more important operations of the company.

The COVID-19 pandemic has forced companies to re-adjust their functioning and this has entailed greater use of technology and professional expertise to optimise productivity and improve efficiency.  This pandemic has thrown regular working out-of -gear and also forced governments to constantly modify their rules and regulations to suit the employees.  This has necessitated the management to get regularly updated, and the best way to achieve this is by outsourcing your payroll to professional service providers.

What is Payroll Outsourcing?

Payroll Outsourcing is a process in which businesses hire the services of professional firms to manage all the payroll functions.   This not only save money, time and effort, but also frees time for their HR team to focus more on the core activities of the company.  When compared with in-house payroll management, outsourcing payroll provides greater accuracy and saves time.  In this article we shall delve deeper into the benefits of payroll outsourcing and how it helps businesses to grow.

Saves time and improvise productivity.

Manual payroll processing or in-house payroll processing is both time consuming, costly and frustrating.  Generating the payslips on time, every time, keeping track of the deductions, the dues, fresh hires, terminations, and complying with the Government’s statutory requirements are all a highly complex task.  Whether we like it or not, these have to be generated time and again without excuses and without mistakes.

When you outsource this operation to a professional service provider, you save time, and manpower and this will allow you to focus more on core business activities.  The HR team and the Accounting department are free to use their expertise on other important tasks that would improve productivity.

Minimizing Expenses

Minimizing Expenses is a vital factor when you are looking to improve your company’s income.  This can happen only when you are able to save time as the more time you save the more you earn. By outsourcing payroll to a professional service provider, you can be assured that all information regarding payslips, deductions, tax dues and statutory returns are managed in a cost-effective manner.

Payroll tasks like generating the payslips, calculating the deductions, the hours worked, paid time-off, leave availed, disbursing the pay checks, filing the tax returns are generated with ease and just with the click of a few buttons.  This enables the saving of time which when factored with the cost will show tremendous saving. This not only allows you to refocus the role of your HR team, but also ensures cost cutting due to use of technology, reduction in man-hours and space required to house the payroll department.

Overall, payroll outsourcing takes on the task of tracking the employees, reconciling the accounts, and managing the complex statutory compliance issues and tax administration.

Usage of latest technology!

The past few years have shown rapid technological advancements in the use of computers and the internet.  Top ranking Payroll Service Providers use the highly advanced cloud-based systems to manage business data.  This makes the system more efficient and robust, and provides greater accuracy and transparency in payroll processing.

Professional Payroll Service providers like GetifyHR use advanced payroll technologies to manage the process with ease by seamlessly integrating Payroll Management, HR Management, Attendance & Leave management, Task management and Statutory Compliance.

Enhances the functioning of HR Department.

One of the important benefits of Payroll Outsourcing is in freeing the HR department to focus more on core business activities.  Manual payroll processing or in-house payroll processing will force the HR Department to concentrate more on this aspect thus disrupting their role in recruitment and employee retainment issues.  Outsourcing this activity will allow the HR team to focus on core functions such as:

• Monitoring the Employees
• Improving Employee retention
• Attracting better talent through job satisfaction
• Simplifying the process of onboarding
• Arranging training sessions to reduce the skill gaps

In effect, the HR team becomes more dynamic and can specialize in people management for the benefit of the company.

Ensuring enhanced security of data.

Payroll processing is a complex process that has its own risks.  The risks are mainly identity theft, tampering with data for personal gain, and misappropriation of funds.  Outsourcing payroll to a reputed service provider can bring in a high degree of security.  The important data is stored in highly secure cloud-based servers that ensure the very best of protection and data encryption.

Implementing Statutory Compliance.

Statutory Compliance is a critical component of business functioning.  Whether you have 20 employees or 100 employees, every business is liable to comply with Government rules and regulations.  Complying provides protection to companies to avoid legal issues.

When you outsource payroll, the process is simplified and enables the company to comply and avoid payment of fines and other legal issues.  The government regulations are prone to frequent change, therefore, the company has to be full updated as and when the changes are made. This task is easily enabled when you outsource payroll.  A professional payroll outsourcing service provider has a team of dedicated experts to keep clients updated of the changes, thus ensuring compliance at all times.

Efficient Employee Self-Service features

Providing an efficient Employee Self-Service (ESS) facility is an important feature that you can access when you outsource your payroll.  Having an integrated payroll system with an employee self-service option has a lot of benefits to both the employees and the employer.  Some of these benefits include:

• Assignment of tasks in a hierarchical fashion.
• Monitor the time each employee spends on a task.
• Update the personal information of employees
• Previewing pay information
• Viewing the Attendance & Leave information
• Providing Mobile apps and remote access to the services.

GetifyHR provides high performance payroll outsourcing module that encompasses an efficient ESS system.

Conclusion

Payroll processing is a critical business function that may not directly affect the business.  However, if the process is inefficient, the overall business would be badly affected. A professional payroll outsourcing service provider offers a platform that integrates Payroll management, HR management, Attendance & Leave management, Statutory Compliance and Task management.

GetifyHR has achieved excellent results with its integrated cloud-based payroll module.  You can be assured of high level accuracy and the support of highly qualified experts to manage your payroll. This will not only enhance productivity but also give the client the ability to focus fully on growing the business.

Introduction

Businesses should focus fully on their core activity and what they are good at and leave other functions to experts. Payroll is one of those functions that deserve the assistance of experts.

Payroll processing is not only a vital function but is also a highly complex operation and when managed perfectly will save the company a lot of time, money, and manpower. Outsourcing this vital operation to a reliable service provider is the best solution. Importantly, it will keep you on the right side of the law as it will enable you to stay compliant with the statutory rules and regulations.

The difficult part is to choose the right partner to handle the payroll operations. You should first decide whether you want to outsource the payroll module alone or also outsource to someone who can also handle the HR module. Ideally, it is advisable to outsource to a company that can handle both payroll and HR requirements as it will help you to handle month-end operations without much stress. Statistics show that one out of three employers has been penalized for mistakes in the payroll and for being non-compliant. This guide will enable you to ask the right questions and help you to make the right choice.

What do you need to decide first and foremost?

Before we jump into the aspect of choosing the outsourcer, you have to be very clear about what your requirements are.

– First, identify your company’s needs very clearly.

– Decide on your plans for future developments.

– Decide on how much funds you can allocate for this operation

– Be clear about the number of employees whose payroll will be handled by the service provider.

– List out the Statutory Compliant rules and regulations that you have to comply with.

– Whether future staff/employee recruitments will also be handled by the outsourcer.

– Whether you require a fully functional Employee Self Service portal to track time and attendance.

Tips to choose the right service provider

The next step is to choose the Payroll Service Provider that best suits your requirements. Here are a few points that you have to look for in an outsourcing partner before you hand over this vital operation.

1. Choose an outsourcer who is efficient in handling Payroll and HR management.
2. Verify their Experience.
3. Identify the Specializations that they handle.
4. Software features that they offer and the technology that they use.
5. Who takes responsibility for mistakes?
6. Flexibility in information transfer.
7. Whether the vital data is secure?
8. Their Service commitment.
9. Pricing of their Services.
10. Their ability to handle Statutory Rules and Regulations.

Let us now delve deeper into these points to understand their importance and why we should have the right answers before making our choice.

1.  Choose an outsourcer who can handle both Payroll and HR management:

This is the ideal choice because you will be able to free a lot of time for your HR team to handle the more important core business activities. On the other hand, if you outsource these activities to two different companies you may not be able to function smoothly. A sound choice made here would enable you to handle these issues without much stress and you will find that the operations work seamlessly without any hiccups.

2.  Verify their Experience:

This is very important as this industry matures with experience, the more the experience, the better the service. You can verify with the clients of the service providers about their experience before making your choice.

3. Identify the Specialization that they handle:

Identify whether they can handle the Payroll and HR operations of the core sector that you handle. Every industry has its complexity when it comes to Payroll and HR management, therefore handing over this operation to someone who is not specialized in this activity will only create complications that would upset the entire working of the organization.

4.  Software features that they offer and the technology they use:

The use of advanced technology has vastly improved the performance of the applications that are now on offer in the industry. Look for a service provider who is using cloud technology to store data as this would lessen your burden of equipping yourself with more advanced hardware.

Ensure that the outsourcer has the necessary technical skills to upgrade and customize the application as and when required. Verify the usability of the reports and whether they conform to industry standards. Features like the Employee Self Service (ESS) module that the employee can access are important in today’s working atmosphere.

5.  Responsibility for mistakes:

You have to determine who will take responsibility for the mistakes in reporting and the subsequent penalties that the company has to bear.

6.  Flexibility in information transfer:

The Service Provider should be in a position to provide flexibility in the way the information gets transferred. You should be able to print the reports, or post them to the net or transmit them in the form of a data file. They should be able to find a solution when there is some break in transmission.

7.  Whether the data is secure:

Data security is a vital factor in outsourcing. Your data is highly sensitive and you must verify that it is securely encrypted and has full control over who can access it.

8.  Service:

Timely service is vital for a process of this nature. Verify that the outsourcer is in a position to provide service always and not only on the days that the payroll is generated.

9.  Pricing of the Service:

Understand fully the cost for the package and see that all the features that you require are included in the entire package. Before you sign on the dotted line verify these facts.  Any misunderstanding here will create a lot of unpleasantness later.

10.  Ability to handle Statutory Rules and Regulations:

This is a highly critical area in any business and any weakness in one’s ability to comply with the government laws will bring greater problems by way of penalties that could be in the form of fines or some cases imprisonment. Make sure that the service provider is efficient in handling statutory compliant issues and is well prepared to handle changes as and when they occur.

Conclusion

Outsourcing your Payroll and HR management operations to an efficient Service Provider is a choice that makes the entire business run easier, quicker, and more efficiently. Since most outsourcers provide a package that integrates Payroll operations and HR Management, you can rest assured of a seamlessly running package that provides all information as and when you require them with greater accuracy. This not only saves you time and money but will also enable your HR team to concentrate more on core activities rather than on the mundane payroll activities. This will enable the entire workforce to perform with greater efficiency and in the long run, will bring greater growth.

GetifyHR is one of the top-rated payroll outsourcing companies in the industry and has over the years built a large number of satisfied clientele. We have the expertise to cater to a wide array of business needs and that could transfer to greater growth to the client. Whether your business is big or small, an association with an experienced and committed payroll outsourcing service provider will bring about a quantitative change in its growth. The tips given here are the result of serious research and we are sure you will be able to make the right choice in your search for a payroll outsourcing company.