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Folklore Payroll Overview
Brilliantly simple payroll software that's accurate, fast, & easy to use
Foklore Payroll is a leading payroll software ideally suited for Indian businesses. It works for all industry sectors with employee strength ranging from 50 - 50,000 employees.
The breadth of features in a payroll software you need depends on size of your company & it's compensation policies. Folklore Payroll software has this unique ability to work for the smallest organization as well as for the large enterprise. It does this with simplicity and user-friendly way so that you don't get drowned in complicated menus or screens. It scales as your business grows.
Folklore Payroll is tightly integrated with our other HR solutions like Folklore HCM, Folklore Training, and Folklore Attendance.
Payroll Software Features
- Payroll processing, payslips, salary statements
- Complete handling of PF / ESI / PT / IT (TDS)
- PF / ESI challans & reports
- Loans & reimbursements
- Payroll arrears calculations
- Powerful full & final settlement module
- Extensive payroll reports
- Electronic bank transfer files for faster salary disbursement
- QueryBuilder: ad-hoc report writer
- Excel import and export of payroll information
- Special features for large enterprises: batch processing, multi-user, multi-company, digital signatures, fine-grained security and more...
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Folklore Payroll Benefits
- Accurate payroll processing, month after month
- Increase productivity by eliminating routine, time-consuming tasks
- Reduce transaction costs
- Higher payroll quality leading to motivated employees & fewer complaints
- Comply with all statutory requirements like PF, ESI, Professional tax
- Automate ALL aspects of income tax
- Integration with financial accounting software be it Tally, SAP, or any other ERP solution
- Eliminate late night work-outs for year-end processing
- Get business intelligence with MIS reports
- The Greytip Advantage
Reliable & Expert Support
Month-end payroll processing is a critical activity. Quick software support is very essential. We pride in providing responsive and effective support when you need it.
We offer full spectrum support options like web-based help desk, email support, telephone support, on-site and remote support. Our highly trained support engineers can quickly troubleshoot based on their vast experience with scores of customers.
Moreover, a highly stable payroll software that's worked for multiple pay cycles over 10+ years means there are less surprises and less support requirement.
The need for payroll software
While most businesses recognize the need and importance of using a professional payroll software to manage the company's payroll, the question regarding the need for payroll software does come up from time to time. The answer has two parts: firstly, the specific pain points addressed by the software and second, comparison with the alternatives.
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The features and benefits of payroll software are discussed earlier in this page and needs no further elaborating. A popular alternative to dedicated payroll software is to use an Excel spreadsheet to get the job done. While spreadsheets are free and easily available to everyone, they bring with them a host of problems.
- Spreadsheet errors are very common and can cause wrong payouts or wrong PF/ESI deductions leading to fines.
- It's difficult to track of changes made to Excel spreadsheet and auditing is not possible.
- Only the spreadsheet programmer can understand the complex relationships between the dozens of sheets and hundreds of cells. Any change in law requires rewriting the formulas which could easily break the logic somewhere else.
- Complex work like income tax computation, digitally signed form 16s, reports like PF form 3A, etc. are very time consuming to prepare and cannot be easily done on a spreadsheet.
- Keeping track of loans or salary advances, automatic monthly deduction, stopping loan deductions once principal is fully recovered -- all such features are not possible in a spreadsheet.
- Since you need to create new sets of spreadsheets every month, the total number spreadsheets keeps multiplying month after month and can get quite unwieldy (it's hundreds of spreadsheets to manage in some cases).
Professional payroll software has none of these drawbacks, eliminates a lot of repetitive work, and reduces the amount of data entry needed month after month.
How To Choose Payroll Software
It's such a paradox. The more the options, the harder the task. The reason? Too much chaff, less wheat. The mushrooming of me-too vendors makes choosing a payroll software a daunting proposition. Payroll software packages seem to be dime a dozen. Just scratch the surface, and soon the viable options for a quality payroll software reduce to just a precious few. Your decision to invest in payroll software needs care and foresight as it has important consequences.
- Use a check-list / RFC to ensure all requirements are covered.
- For increased confidence, see what other world class organizations, with stringent selection processes, use as their payroll software.
- Do reference checks for suitability and for reliable customer support.
Payroll software as a service (saas)
Greytip now offers its time-testing HR and payroll solutions on the saas platform. The saas offering lets customers to rent the software on a monthly subscription basis instead of having to purchase software upfront. Check out our saas product website, Greytip Online, for further information.