Managing payroll has never been easy with so many complexities of payroll structure, employee preferences, multiple locations, loans, leaves and more. And if this was not enough, there are a plethora of statutory compliance’s to manage to stay away from regulatory issues.
The most common payroll compliance’s include:
- Employee’s State Insurance (ESI)
- Employee’s Provident Fund (PF)
- Professional Tax, and
- Income Tax Deduction at Source (TDS)
The good news is that with the right tool, these can be made easy to manage!
Runtime Payroll, our windows desktop-based payroll software, is just the right solution to manage all your statutory compliance’s easily and quickly as explained below:
- ESI: With just one click, you can generate ESI returns, ready for uploading on ESI portal.
- PF: Similarly, you can generate PF ECR (Electronic Challan Cum Receipt) file with one click and upload on PF portal.
- Professional Tax: To follow state-level Professional Tax laws, Runtime Payroll gives you professional tax detailed report for each employee. You can use this information to populate Professional Tax Return quickly.
- Income Tax (TDS): For businesses that need to deduct Income Tax on employees’ salary, it is challenging to manage employee information like tax deductions, rent declarations, investments and more. Runtime Payroll makes it easy to manage employee information in one place with structured data storage. It also takes care of income tax deduction automatically based on applicable income tax rules and tax slabs. Information for Income Tax Return can be generated with all the required information like Employee’s PAN No., Gross Salary, Deductions, Tax Deducted etc. You can use this information to quickly populate TDS return every month. As a bonus, you can also share income tax deduction working (computation) every month with your employees to give them clarity on tax deduction.
Manage your statutory compliance like a pro with Runtime Payroll. We offer a free trial of Runtime Payroll without any pre-payment or credit card information.