Payroll Management
Payroll System
- Payroll is the salary that a company must pay to its employees on a regular basis.
- Payroll might entail recording employee hours worked, computing compensation, and delivering payments by direct deposit or cheque.
- Companies must execute accounting and record-keeping functions, as well as set aside cash for Medicare, Social Security, and unemployment taxes.
- If a company does not want to conduct their own payroll, they can hire professional services to outsource it or use cloud-based software.
- Payroll calculation comprises numerous components and might be difficult.
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A Quick Look at our Payroll system
There is a large quantity of payroll software in Pakistan, but among them, ISF provides you most affordable payroll system in Pakistan and not only affordable but the best Payroll Software in Pakistan. It doesn’t matter how large your business is and whether you are having a hard time managing them or it is small this is not a problem either because we have payroll software for small businesses as well as for large businesses.
Flexible framework for earning and deducting earnings
- The ability to add or change any number of Salary Components - Earnings and Deductions
- User Defined Entry Field with unrivalled formula, percentage, or custom calculation flexibility
- Earnings Taxable and Non-Taxable for Income Tax Calculation
- Calculation of Pay slip / Non-Pay slip Components Based on Attendance.
- Payments made monthly or annually
- Salary Head Frequency
- Compute many other components that do not appear on the pay stub.
Compute many other components that do not appear on the pay stub.
- Leave policies can be established.
- Yearly leave credit/pro rata basis
- Monthly Leave Increment on a Pro-rata Basis
- Balance leave can be carried forward.
- Leave Encashment / Encashment Excessive Leave
- Check your leave utilisation and balances.
- Compensatory & Customizable Le-aves, CL, PL, SL
- Employees who are terminated automatically get a leave compensation (in Full & Final Settlement)
- Employees who are terminated automatically get a leave compensation (in Full & Final Settlement)
- Employees who are terminated automatically get a leave compensation (in Full & Final Settlement)
- Ledger of Attendance and Leave
Ledger of Attendance and Leave
- Loans/Advances using User Defined Terms (Multiple)
- Option for loan disbursement with EMI
- Automatic EMI recovery and halt when the loan amount is completely recovered
- Interest on Loans Calculated Automatically Based on Flat Interest, Reducing Balance
- Loan Recoveries in Lump Sum, Interest-Free Loan Perquisites as per Income Tax Loan Recovered, Loan Balances, and Loan History - Employee Loan Ledger
Processing of payroll
- Enter details for any newly hired workers and quit from those who have departed.
- Make a new payroll month and process it. Salary Overrides are available for any Salary component.
- Salary on Hold & Salary Freezing in the Event of Employee Termination Process by Exception - You only need to submit Pay and/or deduction information when there are changes.
- Absenteeism-based pro-rata calculations for workers
- Process and print pay stubs for groups or specific employees.
- To avoid changes in Processed Data, use the Lock Month feature.
Salary slips (payslip and salary sheet)
- Calculates the required income, deductions, and company contributions automatically.
- Payslips (with logo) can be seen or emailed on a regular basis.
- Reimbursement Paystubs can be printed or emailed.
- Salary Sheets defined by the user can be examined.
- Generates Cash / Cheque / Bank Transfer List Generates Bank Statement, Direct Electronic Bank Transfer Files & Covering Letter for Banks YTD Salary Sheet & Summary of Each Employee Separate Payslips for Arrears, Medical, Reimbursement, & LTA
