Product – CannyHR – Hire to Retire HR Payroll Management Software

The wages procured by the employees is a feudal process and it has to get calculated on several bases. These bases often called as Payroll Process. This process is key objective to correct the company’s calculation with its employees and the bonds to be strengthened for its accurate promulgation in the business world.

Traditionally, all approvals required handwritten signatures in paper documents at various hierarchical levels, circulated across multiple departments in an organization. On top of various signing authorities will put handwritten comments which require special reading skills. Additionally, some require wax seals to prevent security breaches. The storage of these physical documents is challenging as when one needs to access the old records, fishing out the files from a mountain of files in dust and rodents. You can visualize the cumbersome effort of storing and then retrieving the documents.

The process actually involved started from the tracking attendance. A company hires its HR or a finance team which gets involved in the payroll process. CannyHR behaves like a submerged accord for the company that it allows smooth work for the company.

Let us check how it presents Hire to Retire Payroll management Software

They look at the attendance performance of each employee. Basically they audit the presence or absence of an employee and also leaves applied. They also collect the data of existing employee or a new one.

The data are composed of basic salary information and any salary changes like salary appraisals or salary revisions. It also determines the declaration of the employees especially for the new employee. They also collect the one time payments like bonus; incentive any overtime payment and also deductions like advanced recovery.

Time comes to generate the pay slip and Income Tax statement for the employee and full and final settlement for left employees. They also generate Employer report like salary register, Bank transfer statement and statutory reports for Provident Fund, ESI, Professional Tax and Income Tax.

Aftermath, through CannyHR, company avails the benefits for easy input all the data into the system or the Excel sheet and process the payroll. During the payroll process, they actually calculate the salary components based on their attendance. They also calculate overtime, bonus, incentives. They figure out the statutory deductions like Provident Fund, ESI, professional tax and Income Tax. Once all process is done, then next step is to generate the report.

The final step is to disperse the salary. It is based on the bank statements. Accounts team will transfer the salaries to the employee bank accords and then later on they make payment for the statutory departments. This complete process started from the attendance tracking till salary dispersion is called Payroll Process.

Final interpretation related to H2R solutions

With CannyHR, the human resource practice can be eased. It includes the needs to carry forward the employer’s reputation to achieve the variable targeted manifestations. The evolution of CannyHR is supposed to be elated to specify the importance of Human Resource management and to exclaim the people of a company are precious element.

It also supervises the sub processes that include payroll payment control, security of payroll preparation, hiring and termination procedure of employees, compensation and benefits to the employees. CannyHR can rigorously promote the education and training and development of the workforce within the company.