The most noteworthy aspect of ID – paytek is its flexibility and ability to process any type of salary structure. We assure you that your requirements will be perfectly addressed.
Paytek HR payroll software caters to a wide range of complexities and helps you to implement personalized pay packets. It also calculates TDS estimations automatically based on each employee’s CTC thereby reducing the need of applying complex formulae for arriving at the appropriate estimation in tax planning, the HR system takes care of everything at the single click of a button.
Paytek is filled with functionalities that enable you to comprehensively handle your payroll processing in a very simple manner. It facilitates you to define the rules existing in your organization and thereby, create your own business logic for Earnings, Deductions, Bonuses, Taxes, Leave & Attendance, Statutory Requirements and other essential areas.
All the statutory deductions like PF, ESI, Professional Tax, TDS etc can be handled easily thereby lightening the burden of filing returns with very minimal or no paperwork at all.
Paytek handles the exit procedures with full and final settlement process ensuring that all dues, loans and other checklists are settled in a trouble free manner.
One of the key features of paytek is a user – friendly Loan Management app that makes the entire loan process easy to manage. It automatically calculates the EMIs based on the interest rate and type you choose.
Organizations give advances and bonuses to encourage their employees to perform better. Paytek makes it a good experience to incentivize the sales teams in organizations as well as reward the professional staff for their performance and process the reimbursements without any fuss. It also lets you schedule the salary revisions much ahead of the payroll.
Reimbursement function is another crucial area that needs to be taken care of. The various claims of employees such as travel claims, medical benefits, annual leave claim etc may be classified with discrete items within them. Paytek facilitates you to pay the amount to be reimbursed along with payroll or it can even be done by generating a voucher from a co existing finance application such as paytek financials.All these features are completely integrated with Leave Management, Time & Attendance etc.
Being a cloud based HR payroll solution, it offers easy deployment. All the infrastructure related needs are available in the ubiquitous browser. Paytek offers organizations an extremely cost – effective, subscription based pricing mechanism which allows payments to be made based on usage. The pricing works on a Per Employee Per Month (PEPM) basis.
The company only has to pay monthly subscription costs without the need to invest on a full – fledged HCM application for its employees. There is no need to invest in Hardware, Licenses or service costs as well as no recurring AMC & support costs and no expenses on upgrades.
Being a cloud based solution, the HR staff and employees can access this HRMS system from anywhere at any time through any device including smart phones. This gives both the management and employees an extraordinary advantage in terms of efficiency over on premise HR payroll solutions.
The most noteworthy aspect of the above advantage in on cloud HR solutions is enhanced usage and engagement as accessing HR benefits has become more fast, accurate and convenient.
Support has become all the more easier with on cloud solutions. The employees just have to raise a ticket to us and we will provide all the necessary back end technical expertise. The IT departments in organizations need not worry about being bombarded with enquiries.
Furthermore, updating an on premise solution can be a complex and daunting task, whereas the on cloud solution can be updated seamlessly thereby ensuring that the users have access to the latest upgraded versions
Moreover, integrating on-premise software with other systems in the environment could become highly complex, but with cloud-based HR software, businesses simply need to leverage the open API to integrate the systems and the data can be shared in real-time.