Before software was invented, payslips were prepared and calculated manually. And then with the invention of software spreadsheets eased the task of preparing payslips and related documents. Nowadays, majority of companies use payroll software regardless of their size. An efficient Payroll Software is necessary to make timely preparation of payslips, salary registers, statutory reports and related documents with at most accuracy.
Payslips or Salary slips are documents issued by the employer to the employees, containing the detailed breakdown of an employee's earnings and deductions for a given salary period which can be weekly, bi-weekly, monthly etc. Employee Payslips are generally distributed either as hard copy by taking the print out or else are published through online portals called employee self service. An employer is legally obliged to provide payslip copy to every employee in his payroll.
Attendance software communicates with Time attendance devices to bring data from different geographical locations in to a centralized office. The software also allows users to process the attendance data according to their requirements. The summarized attendance data is usually used for reporting and also for payroll processing.
A work schedule, often referred as rota or roster in the HR circle is a list of employees and information related to their work timings, location of employment etc for a given period of time e.g. weekly, monthly. The process in AttendHRM roster management software of creating a work schedule for your employees is called roster management. A good roster plan (or employee shift schedule) ensures that each shift has enough employees to keep things running smoothly and efficiently.
Document management, often referred to as Employee Document Management Systems (EDMS), is the use of a computer system and software to store, manage and track electronic documents and electronic images of paper based information captured through the use of a document scanner.
Salary processing consists of the steps needed to pay employees each period. It involves tracking hours worked, calculating allowances, deducting money for employee benefits, and remitting payroll taxes. Implementing a solid salary processing method helps employers avoid penalties for breaking various Labor laws (minimum wage, unpaid overtime), calculation errors caused by manual entries etc and payroll software makes it easy.
Employee Self Service(ESS) is a web portal for employees to record Time and Attendance, check work plans, request leaves & holidays, view payslips and so on. The employee self service also allows managers to make attendance, leave, and holiday approvals for their employees.
Overtime is the amount of time someone works beyond normal working hours. Employees who work overtime hours regularly experience numerous mental, physical, and social effects. Significant effects include stress, lack of free time, poor work-life balance, and health risks. Employee performance levels could also be lowered. Long work hours could lead to tiredness, fatigue, and lack of attentiveness.
Children’s Education Allowance is provided to the employees for educational expenses of their children. In this allowance, education expenses related to school and hostel is covered. Under Children’s Education Allowance, there are components, allowances, and updates for educational allowances. The amount of allowance for a differently- abled child is double than what is offered to a normal child.
Overtime is the amount of time someone works beyond normal working hours. Overtime, or time worked beyond a specified number of hours in a week by hourly, non-exempt employees, can wreak havoc on the operating budget of a small business. Pay for any hours worked as overtime are paid at a higher rate than regular hours. While there may be times when overtime is necessary and cost-effective, overtime pay can begin to drain your bottom line if not managed correctly.