Payroll Management
Silicon Valley Education Management Software is designed to provide integrated tools to Payroll Management. It has all the characteristic , which can manage and handle any School / College / Institute & University Payroll Structure. It has a Smart prospect that can automatically create tasks , release scheduled payments , generate reports/slips , manage bills and a large number of Payouts easily . It is easy to understand the Complex Financial Calculations and also derives very Significant functions in corporate world , it enables Sophisticated & more International Platform for the Global Business & Trade.In the recent years, digitization has changed the world economic growth, thus payroll is one of the most profit acquiring module. It helps in analytic’s to understand the different payment methods that are used by various institutes.
Paying workers reliable & with no delays , Certainly increase their Confidence , also it emulates the organization’s Money related dependability. It is a kind of necessity for maintaining with government and state laws. While this is an intricate procedure, having an effective framework streamlines and bring together the payroll method. The process alludes to the administration of an employee's monetary records which includes the salaries, compensation, bonuses and final net pay.
The payroll management is one of the most used software that has ever built for the Institution Management, it creates a better solutions for different organization. They implement this system for the advancement of future organization goals. According to the survey conducted by Global Payroll, it stated that almost 60% of the organization implements the payroll management in their organization, as they understand the potentials of eliminating irregular paychecks and payment of tax from the top level authorities.
KEY FEATURES OF Payroll Management
PAYROLL SETTINGSSilicon Valley Education Management System helps to manage payroll easily & with less time . Payroll includes Name of the Bank from which the salary is paid , Calculation of Basic Salary , Basic % of CTC , Minimum Basic Salary , Base Days ( Days of the month), Actual Days , Cut-off Rule , Leave Encash Cut-off Rule , Salary Increment ( In how many Months) , PF Amount in % and ESI Amount in % .
SALARY COMPONENTSalary Component requires Name of the Component eg- Medical Allowance , Basic Salary etc , Abbreviation of the Component , Value Type , Calculation Amount , Component Type (Fixed or Variable)
PROFESSIONAL TAXProfessional Tax can be calculated by adding the name of the State , From Amount , To Amount and Tax Amount
ASSIGN SALARYSalary can be assigned with the help of our ERP System easily. Assigning salary require some details like Name of the Stream / Department , Name of the Employee , Monthly Salary , Yearly Salary , Salary Component like Basic Salary , Conveyance Allowance , House Rent Allowance etc & their Monthly Amount and Yearly Amount.
GENERATE SALARYGenerating Employee Salary includes Stream/Department , Name of the Employee , Designation , Total Deduction , Salary Paid , Total Salary , Status, Provident Fund , ESIC , Leave with or without pay
SALARY INCREMENTSalary Increment can be done on the basis of the performance of the Employee. Stream / Department , Name of the Employee/Faculty , Amount of Old Salary , Amount of New Salary , Date on which Increment is done. After increasing the salary , the components like the value of Allowances will automatically increase.
ASSIGN BONUSBonus can be assigned on Monthly and Yearly Basis . We have to Stream / Department , Select the Name of the Employee , Amount of the Monthly Bonus , Value Type , Maximum amount of Monthly Bonus , Date of Calculating the Bonus
GENERATE BONUSGenerating Bonus require details like Stream/Department , Name of the Employee , Designation of the Employee ,From which Month and Year it should be calculated to which Month & Year , Amount of Monthly Bonus , Amount of Total Bonus .
SALARY INCREMENTSalary Increment can be done on the basis of the performance of the Employee. Stream / Department , Name of the Employee/Faculty , Amount of Old Salary , Amount of New Salary , Date on which Increment is done. After increasing the salary , the components like the value of Allowances will automatically increase.
PAYSLIPMobile Application help Admin & Principal to see the Payslip of the Employee and with the help of Cloud Based System as well by adding Name of the Employee , Stream/Department , Month & Year . Teacher/Faculty can download their Payslip from Mobile Application as well.
PAYROLL CATEGORY WISETo see the Payroll List Category Wise for that we have to add Month & Year so accordingly the List will appear with the details of Stream , Employee Name , Paid Date , Salary Category , Total Deduction , Salary Paid & Total Salary.
SALARY OUTSTANDINGSalary Outstanding details we can get by adding Stream/Department , Month & Year , then a list will appear in which every detail regarding every Employee will be there.
SALARY OUTSTANDING SUMMARYPrincipal can see the Summary of Outstanding Salary with the help of our Mobile Application . To see the details we have to add Department Type , Month & Year.
OVERALL SALARYSalary details can be generated by selecting Report Type like Employment Wise or Department Wise , Month & Year and Status like Paid / Unpaid , after that a list will appear regarding all the details. Principal can see the Salary details from Mobile Application as well.
SALARY REGISTERThe List of Salary Register can be seen by adding Month & Year then a list will appear which includes Stream/Department , Employee Code , Name of the Employee , Present Days , Working Days , Date , Leave Deduction , Provident Fund , ESI , Tax Status , Total Deduction , Salary Paid and Total Salary.
GENERATE PAYSLIPPayslip can be generated by searching the Name of the Employee , Stream/Department , Month & Year. The Salary Slip will appear of the particular Employee with all the details .