Salary Calculation
Calculation of salary along with deductions can be easily calculated with payroll management module. The module gives complete financial record of every employee that works for the organization.
Payroll management module in human resource management system gives human resource department tools to manage all the salaries and payroll. Payroll management module calculates the salaries including deductions and gives exact salary figure to the human resource department. Payroll management module manages the financial records of the employee. This record includes employee’s salary, incentives, bonuses, deductions, and net pay. The module gives consistency in payroll management to the organization, giving the human resource department complete control over payroll calculation.
The entire payroll related data and information is securely stored on the single database that is used by human resource management system through portal. Payroll management module in human resource management system stores complete and accurate information in central server. This information or records are accessible to human resource department at any given instance. Deliberate errors can be eliminated with payroll management module. Income tax deduction complied by the law is also calculated with payroll management module in human resource management system. Human resource management system is sophisticated software that ensures that all the processes and activities associated with the human resource department are completing smoothly, and payroll management is one of the most crucial part of HRMS.
Calculation of salary along with deductions can be easily calculated with payroll management module. The module gives complete financial record of every employee that works for the organization.
Generate easy pay slips and salary slips using payroll management module in human resource management system. This gives clear insight of salary to the employee and organization.
All the records of employee’s salary, deductions, taxes, and other expenses of the employee of the organization are stored accurately on central server for easy access at any instance.
Payroll management module generates reports of the salary and other incentives of the employee accurately every new month in order to keep the finances of the organization in check.
Gain complete control over the entire payroll related activities and processes using payroll management module in human resource management system to improve process efficiency.
Payroll management module in human resource management systems complete integrated with basic income tax and TDS calculator to ease the calculations of the organization and human resource department.
Payroll management module gives human resource department the compatibility with other modules of HRMS.
Human resource department and employees get single portal access for viewing information.
Payroll management module stores confidential and sensitive data securely on central server.
The processing and payment of the salaries becomes fast and efficient due to automation.
View, access, and print the employee’s salary slip with ease in payroll management module in HRMS.
Customized payroll reports whenever required by the human resource department in the organization.
HRM can be defined as the effective management of people in an organisation.
HR management helps bridge the gap between employees’ performance and the organisation’s strategic objectives. Moreover, an efficient HR management team can
give firms an edge over their competition.
Human resource operations contribute significantly to the success of an organisation. Hence, human resource management has emerged as a popular course of study.
Business consultants note that modern human resource management is guided by several overriding principles.
Another important principle, articulated by Michael Armstrong in his book A Handbook of Human Resource Management, is that business success "is most likely to be achieved if the personnel policies and procedures of the enterprise are closely linked with, and make a major contribution to, the achievement of corporate objectives and strategic plans