What is Payroll Management System?

by Anii Jain Human resource executive

A payroll management system is a collective process consisting of several other modules of HRMS and can be used by organizations of all sizes to manage payroll processing. A software which manages salaries, TDS, PF, EMIs, bonuses, etc. as a cohesive mix is payroll management system, and automation enables a clear-cut and seamless functioning. A modern payroll management system entails of the following components to ease the HR team functioning:

Payroll Compliance in association with ESI, PF, professional taxes, labour welfare fund, loans, EMIs, etc.
Automated Payslips
Slab allocation as per the CTC
Preview payroll before a final run
Paperless and hassle-free functioning
Seamless integration with other HRMS modules like attendance and leaves, etc.
Fully automated HRMS solution with availability on-cloud.
Organizational size adjustable
Zero ambiguity
Dedicated managed services

SHRMpro is designed to stay relevant to the organizational needs of running an impeccable, error-free payroll for companies of all pursuits and sizes. HR teams are sure to have a comfortable time with handling most critical to the easiest of issues with an all-inclusive HRMS solution known for its Payroll Management solutions par excellence. You need to use it to believe it.

SOURCE: What is Payroll Management System?