Payroll Software Mumbai

Payroll software is a product offered by Prodigy Technologies, a software development company in Pune. Payroll software is available in two versions desktop payroll software and online payroll software or epayroll. However, this payroll software is not restricted for businesses in Pune only. On the other hand, there are several Mumbai based companies that use our payroll software for their payroll processes. This is an intelligent payroll software that helps to avoid manual calculations completely. Your HR professional can handover the responsibility of payroll calculations or salary calculation to this payroll software Mumbai completely and focus on other more important work.

Payroll software is based on dot net technology and follows all the salary and payroll laws set by the government. It is designed in such a way that anyone can access it easily. In other words, you do not have to go through any training for using this payroll software Mumbai. This software is compatible with Excel as well as all types of attendance punching machines, and also imports data from them during the payroll process. Payroll software mumbai is configured with all latest features required for payroll processing.

Gratuity PaymentGratuity Gratuity Payment

March 23, 2016 at 06 : 23 PM

Gratuity payment is a lump sum that your company will pay you as an acknowledgement of your loyalty to the company. Naturally, gratuity becomes payable only after you have spent a certain number of years with the company. You will receive this benefit either at the time of retirement or when you resign from employment. There are two conditions that must be satisfied in order to be eligible to get the gratuity benefit:
  1. Your organization has a minimum of 10 people on payroll, i.e., at least 10 employees receiving salaries from the organization. Note that people on contract are not considered.
  2. You have completed at least 5 years with the organization. 
If an employee dies during the tenure of his employment or if employee is terminated due to disablement, then the 5-year rule is relaxed. So, even if such employee’s period of service is as little as 1 year, he/she will be eligible to receive gratuity if the first condition is met. According to the law, the
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Gratuity CalculationCalculations Gratuity

March 25, 2016 at 10 : 07 AM

Gratuity is considered as part of CTC by employers because they either make a provision for payment of Gratuity or contribute to Gratuity fund. It’s not mandatory for employers to maintain a Gratuity fund. It’s optional. Your employer can opt to pay Gratuity to employees directly. The only advantage of maintaining a Gratuity fund is that if you pay a marginal risk premium, Gratuity is paid by the insurance company in the event the employee dies while in employment considering the service from his Date of Joining till the date he/she would have superannuated from service if he/ she had been alive. Normally, if the employer pays Gratuity directly it will be restricted from the employee's Date of Joining till his date of death.

Please remember that the insurance companies pay Gratuity only from the fund contributed by you each year. So, if the Gratuity payable is greater than the fund maintained by you, the insurance companies will deny payment of Gratuity. For this purpose, the i
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