greytHR offers end-to-end payroll processing services in Bangalore, Chennai, Mumbai, Pune, Hyderabad and Delhi through its cloud-based payroll management software. Being cloud-based, the software offers you various advantages-no backup/maintenance required, world-class security, low cost, and more. The software is also powerful and flexible enough to handle virtually any type of salary structure.
Of the different payroll services provided by greytHR, statutory compliance is a key service. Compliance with statutory laws is one of the key concerns clients express in the payroll services market. The payroll services greytHR offers are 100% compliant with statutory laws.
With the software, manage all statutory deductions, such as PF, ESI, PT and IT without performing any redundant tasks or managing formulae and rules. The software also allows you to configure it to suit your company’s specific statutory compliance needs. All statutory reports such as PF ECR file, ESI Returns, PT reports of all states and TDS returns can also be generated without the need for any additional work.
One-click payroll processing
Once the payroll inputs are keyed into the software – a one-time activity – greytHR offers one-click payroll processing. This will result in the accurate computation of all salary components, reimbursements, arrears, settlements and statutory components including income tax.
Income tax calculation and associated forms/reports
Income tax laws and slabs can make for a lot of work when computing IT for various employees falling under different slabs. greytHR’s payroll processing services navigate the complex income tax landscape with ease.
The software deducts TDS automatically and generates various related reports including the Monthly Tax Statement, Form 16 & 12BA, eTDS Returns and Form 24Q in formats that are ready for use. It is of note that the payroll management software generates Form 24Q (which involves a 7-step process) and digitally signed Form 16 (which considers 12 months of data and involves associated calculations) with just a few mouse clicks.
Payslip generation and distribution
greythr offers the facility to download payslips in the .pdf format, email them directly to your employees or publish them on an online employee self-service portal. Eliminate the need to invest in a separate payslip software through the use of greytHR.
Full & final settlement
greytHR simplifies F&F settlements by handling all the different aspects of it, such as the recovery of pending dues, notice pay, leave encashment, etc., to compute the final settlement amount. Final settlement payslips too can be generated using greytHR. The system also allows you to perform the resettlement of an already settled employee for any additional payouts.
greytHR allows you to create and compare flexible benefit plans. Employees are given the option to decide which components they want to opt for and how much they want to opt for under each component with some predefined checks and balances.
Use greytHR’s simple workflow process to claim reimbursements online. This is made possible through an approval mechanism. With this, your employees can raise or initiate reimbursement claims online, while the attachment facility helps employees to submit the scanned copies of bills.
POI Release and Tracking
Collecting proofs of investment (POI) is a cumbersome, time-consuming task. The POI release and tracking features on greytHR allow you to release POI to a group of employees or for a particular employee, and, further, track the status of POI post release to the employee(s).