Aniruddh Nagodra (@factohr)
Aniruddh Nagodra is the CEO of factoHR, which is a cloud-based human payroll software. He is determined to provide Indian companies a HR software which will automate the HR process which will eventually helps in cost reduction of a company. He has successfully launched HR Software for mobile, web and desktop software.
Keeping track of employee’s time and attendance is one of the central tasks of any business.Payroll needs to be calculated according to actual hours worked, not on scheduled hours or individual estimates of how long a particular employee spent on the job. The main emphasis of Online attendance system is to help maintain an efficient, productive and cost-effective workforce.
Let us go through a quick overview of how time attendance system can improve the efficiency of your business:
1. Accuratecontinue reading →
Oh. So is it possible to save tax in your salary structure? But how?
Your salary is made of many components like basic salary, allowances (taxable and exempt), perquisites etc. While calculating taxable salary, some of these components are taxed as per Income Tax Act, whereas some stand exempt under the law or partial for some of the cases, subject to conditions. We will give you some of those items or parts of the salary structure, which would help you take more salary to your home.
There arecontinue reading →
There are many benefits of implementing HR software into your workplace, and here are five of the main ones.
1. Improving productivity
The most obvious benefit that HR software can provide is in the realm of productivity within your HR department. Implementing HR software can automate a huge number of HR functions, most notably Payroll software and attendance. By doing so, you free up your HR workers to focus on other issues like attracting new hires and employee training strategies.
2. Meacontinue reading →
Before I tell you about how to improve your company culture, few words on culture itself.
Company culture or organizational culture is one of the determinants of failure or success of any organization. Also known as business culture, company culture can be defined as the correct way to behave or act within an organization and embraces both employees and management.
Their actions can have positive effects on the company culture as discussed in the below section.
- Reward the people that contr
Why switch to cloud-based payroll software? The purpose of cloud based payroll software is to simplify and automate the process of paying a company’s employees.
- Improve speed and security
Few things are more important to your employees that is being paid on time. Yet for many HR and payroll departments, running payroll is often a rushed process. Perhaps more significantly, because many functions are automated, it eliminates the need for manual calculations, reducing the errors, redundanccontinue reading →
Do you have Payroll software for your company?
One problem that any size of company faces is its payroll. This is because all the tasks are done either manually or in spreadsheets.
Many companies still do it manually which makes it all the more time consuming and prone to errors. Payroll software can be a solution to manual HR activities for all size of companies. But as there are many Payroll software available in the market, choosing the right one can be critical. To avail the best Payrollcontinue reading →
The need for Statutory Compliance in India
In today’s competitive environment it is very challenging to maintain the compliance easily without a good payroll software. Each country has it’s own compliance requirements. Here is a list of statutory compliance in India:
- Minimum Wages
- Provident Fund (PF)
- Income Tax (IT)
- Employee State Insurance Corporation (ESIC)
- Professional Tax (PT)
- Statutory Bonus
Management of Statutory compliance through Payroll Software
- Minimum wages
Do you know what is gratuity?
Gratuity is an amount paid to the employee by an employer for the service provided to the company. Gratuity is the offer provided as a benefit or retirement plan to the employee by an employer. According to the Payment of Gratuity Act 1972, the tax-exemption limit for the non-government employee was up to Rs.10lac (collected in employee’s entire life) which has been increased to Rs. 20lac, effective from 20th March 2018. For any government employee, gratuity amountcontinue reading →
Gratuity is the amount that an employee receives either after the retirement or after completing at least five years of service in the same organization. According to the Payment of Gratuity Act 1972, for the non-government employee, the tax-exemption limit was up to Rs.10lac (collected in employee’s entire life) which has been changed and increased to Rs. 20lac, effective from 20th March 2018. For any government employee, gratuity amount received in their entire life is tax-free.
Gratuity formcontinue reading →
Let’s hear about Ravi, who is working in the Infinite Pvt. Ltd. company. He is going on a business tour for five days. While on the travel, he got a message of salary deposit in his account. He wanted to have an access to his salary slip while on the road. But the question is how?
He contacted his HR, Mr. Trivedi, to discuss his concern. Mr. Trivedi was not having any solution to his concern and felt helpless. So, he thought of having a satisfactory solution for his employees and searched for pcontinue reading →