Why pay for payroll?
Sun 21 Apr 2019Others
Why pay for payroll?
Payroll is an integral part of an organisation’s functioning. Each company has to pay its employees(obviously) but payroll is more than that. It involves salary calculation, expense reimbursements, bonuses, tax deductions, insurance, leaves & attendance(for Loss of Pay calculations) etc. Emplify is an employee benefits platform, built to ensure simplicity and ease of use for an organisation, reducing all payroll and benefits related headaches.
The various aspects of Payroll with Emplify
When you onboard employees onto emplify, you specify their salary structure, leave and expense policy. Then when you run payroll, Emplify looks at multiple aspects to guide you through payroll processing. The first step is their attendance & leaves. Did the employees attend every day(this is optional, if you are a small business and don’t track attendance, you can disable this)? Were any leaves they took approved? Depending on the answers to these questions, emplify sets up the Loss of Pay(LOP) days for every employee for that particular payroll period. With the attendance module integration done, you don’t need to manually enter the days, the system will calculate automatically for you. The next step is the expense reimbursements. Organisations offer expense reimbursements to employees, for fuel, mobile bills, daily travel allowance, and more. This is governed by the expense policy settings in emplify. While running payroll, approved expenses end up in the run payroll process, showing you how much in reimbursements every employee is owed. Emplify Payroll also allows for one time bonuses, under various headers, to be paid out during a particular payroll cycle. This section also covers salary arrears, and more, The last section deals with deductions(if any) to be made from any particular employee’s payroll for that particular month. This could be deductions for damages, or for an advance, or some other perk/benefits that is offered on a salary debit basis(most common uses include cafeteria lunches, purchases at employee sale events, etc.)
How easy is it to use?
We wanted to make emplify the easiest payroll software to use in the market, so we made things integrated and simple from the get-go. There is an expense reimbursement module, that allows admin/HR to set expense policies by team and designation, and an employee portal where every employee can add expense reimbursements. These expenses are approved by the employee’s manager or admin(or both- You can set the permissions required), and are automatically accounted for in the next payroll. Everything in emplify works this way, including leaves and attendance(regularization requests are filed by the employee and approved), bonuses, deductions and more. Once you run payroll, an excel with the summary is generated. Once this is approved by your organisation, you can finalise payroll, which generates a batch file in the format of the bank your account is in. Any other deductions, such as provident fund, contributions to insurance benefits and more, are processed directly into payroll after you set up the respective module.
Whats so different about emplify payroll?
At Emplify, we believe that Companies shouldn’t need to pay for a good, intuitive, payroll/HRMS/benefits administration software. Which is why Emplify is free, so long as you use us for your employee benefits insurance needs. What this means is that Emplify will act as your insurance brokers for group insurance(Group Mediclaim, group personal accident, group gratuity, travel etc.- whatever is applicable to your firm). Place any group business with us and get full access to the emplify platform.
Why businesses are the winners with emplify
Employee benefits tends to be the biggest expense head in the income statement, especially if you are a services company. Consolidating the whole vertical under one platform leads to: 1. Smooth experience for employees and HR 2. Saves duplication of work for HR(especially in onboarding and exits) 3. Saves costs. Significantly.
Contact us if you want to sign up or see a demo. Simplify your HR, Emplify it!