The payroll structure in most organizations is complex and consists of a number of components. RFS can help your HR department define the components and formulate salary structures with ease. With RFS, maintenance of payroll becomes easy and convenient for your HR department. You can set the monthly value component; calculate overtime data, external incentive payment entry, bonus, arrears etc. This module can enable you to perform multiple salary processing and final settlement.
- Process salary for employees based on data such as department, organization level, salary date and month, wage type, designation, location and the number of working days.
- Set the variable monthly value component as per top management need.
- Approve, edit or delete salaries that have been processed.
- Calculate over time data for each employee.
- Entry for external incentive payment entry.
- Record any advance payment including advance opening balance, employee advance payment and advance settlement.
- Entry for imprest payment and settlement.
- Calculation of bonus by defining the percentage, maximum and minimum limit, the month it is paid in and the component of salary on which it is to be paid.
- Calculation of arrears with the time period of the arrears and the salary component.
- Define TDS deduction section wise for employees.
- Multiple salary processing can be done for a group with the same salary structure.
- Create the final settlement list for each employee.