Check out here the best payroll software in India to help businesses find the perfect fit for their needs.
by Bhumi Shah, Digital HR - Research and Consulting, hrtech
Payroll management is a critical aspect of any organization, and the right payroll software can make all the difference. With numerous options available in the market, it can be challenging for HR professionals to choose the best payroll software for their organization's specific needs. That's why we have researched and reviewed the top 10 payroll software options available in India for organizations of all sizes. In this blog post we will be providing an in-depth analysis of several payroll softwares highlighting their features and unique selling pointers. We hope that this review will help HR professionals make informed decisions about the best payroll software options for their organization's unique requirements.
Here are the top 10 Payroll Software in India:-
- Ramco Systems
- SAP SuccessFactors
- Zoho Payroll
- Pocket HRMS
ADP's team of certified payroll professionals specializes in payroll management and is available to provide guidance and assistance to clients. They offer both regional and local payroll outsourcing services, leveraging their expertise to ensure compliance with constantly evolving regulations. ADP's professionals are well-versed in payroll requirements and are equipped to implement effective payroll solutions.
Quick and streamlined payroll processing, both locally or globally.
Empowers the workforce with convenient online self-service tools for employees and managers.
Certified and seasoned payroll professionals.
Seamlessly integrates payroll solutions with existing business software, HR systems, time tracking, and ERP for hassle-free management.
Clients can leverage a unified perspective of their workforce data to enhance their reporting and analytical capabilities, facilitating data-driven decision-making.
Can customize payroll services as per the size of the business and workforce
Ramco Systems provides cloud and mobile-based enterprise software solutions for HR and global payroll, ERP, and M&E MRO for Aviation. The company stands out by prioritizing innovation and culture, and takes a next-generation approach to enterprise software that disrupts the market.
Develops custom rules that are specific to your organization.
Establishes your own business logic for Earnings, Deductions, Bonus, Arrears, Leave and Attendance.
Considers local variances within individual geographic locations.
Manages multi-element, multi-decimal, multi-currency, and multi-country payroll processing.
Enables automation of payroll processing, aids in outsourcing payroll tasks, and offers self-service tools for payroll management to your employees.
The software can help businesses deal with regulatory and compliance requirements across 100+ countries
SAP SuccessFactors is a cloud-based software suite for Human Capital Management (HCM) that provides a range of solutions, including payroll management. The suite prioritizes personalized experiences for employees to enhance their productivity, engagement, and overall satisfaction. It is utilized by more than 235 million users in over 200 countries and has been a part of the SAP family since 2012.
Streamlines payroll management processes for greater efficiency by automating tasks and implementing immediate corrective actions.
Eliminates the need for manual payroll calculations with automated calculations that include retroactive and off-cycle support.
Provides access to real-time insights and key statistics for actionable payroll advice and proactive alerts.
Provides a comprehensive view of the workforce, HR costs and its impact
SAP considers local variances within individual geographic locations to manage regulations specific to countries and regions.
Offers self-service payroll features through a mobile application to provide employees with a user-friendly experience.
4. Zoho Payroll
Zoho Payroll is an intuitive payroll management software that streamlines all aspects of payroll processing, ensuring ease of use, compliance, and efficiency. Its user-friendly interface, robust automation capabilities, and adherence to statutory laws make managing payroll a breeze. By leveraging Zoho Payroll, businesses can reduce the time and resources required to manage payroll, allowing them to focus on other critical business functions.
Zoho Payroll enables administrators to manage multiple locations and users, while providing fine-grained access control to facilitate collaboration between HR, payroll, and accounting teams.
The software facilitates timely delivery of paychecks with Direct Deposit integrations with popular partner banks in India.
The employee self-service portal allows for complete visibility on salary details, including payslip/Form-16 downloads, investment declarations, reimbursement claims, and tracking of salary revisions and loan repayments.
Employees can access comprehensive and accurate payroll reports at any time, while pre-formatted statutory reports are readily available to simplify filing returns.
Zoho Payroll integrates with Zoho People, an HRMS software, to automate onboarding and process LOP.
Zoho Payroll also integrates with Zoho Books, a GST-compliant accounting software, to automate payroll accounting.
A free trial period is available, and the software supports a free version.
Automatic compliance regulation updates ensure year-round compliance with Zoho Payroll.
The employee self-service (ESS) portal offers various features, including payslip downloads, income tax declaration, and reimbursement claims.
Partner bank integrations enable direct salary deposits for added convenience.
Zoho Payroll seamlessly integrates with Zoho People, a comprehensive cloud-based HRMS that caters to all HR needs of businesses.
factoHR's payroll software adopts a wizard-driven approach and offers a consolidated database to simplify the entire payroll process. This enables users to effortlessly manage their payroll tasks with minimal hassle, ultimately improving their overall experience.
factoHR's next-generation mobile application and employee self-service portal empowers employees to access their compensation, income tax, and other relevant information from their mobile devices and desktops at any time.
factoHR's rule engine is formula-driven and provides clients with the flexibility to create an unlimited number of earning or deduction components. It allows businesses to configure any type of salary structure that suits their industry or business type.
Integrated payroll software streamlines payroll processing, significantly reducing processing time.
Offers built-in integration with internal modules such as attendance management, leave, and expenses, as well as external systems like banks, ERPs (SAP, Oracle, etc.), and accounting applications (Tally, Quickbook, etc.), improving the overall management of payroll tasks.
The organization's HR software stores employee data in secure cloud data centers that are ISO-accredited and SOC Type 2 certified. Compensation data is encrypted using an encryption-at-rest design approach for additional security.
The off-cycle payroll feature of the system allows clients to make payments that are not part of the regular salary process, such as bonuses or incentives.
greytHR empowers clients with control over the entire payroll cycle, covering everything from inputs to payouts, claims to compliances, and self-service to settlements. Rather than just managing certain components of payroll, clients can benefit from a comprehensive and streamlined payroll management system.
Customisable salary structures
Highly configurable payroll engine
Unlimited salary components
Handles complex use cases
Manages reports and analytics
Statutory Compliance: Manages end to end statutory compliance including PF calculations, ESI challans, TDS calculations & returns, Digitally signed Form 16 and 12BA generation, etc.
greytHR PayNow: The system offers a direct-debit facility that enables clients to transfer salaries directly to their employees' bank accounts from within the application. This feature saves time and offers a convenient and secure method of transferring funds.
7. Pocket HRMS
Pocket HRMS is an innovative HRMS platform utilizing the capabilities of Artificial Intelligence to automate various HR processes and is cloud-based.
Selective Payroll: The payroll system provides greater flexibility for processing payroll for both multiple categories and individual employees.
Statutory Compliances & Forms Generation: Generate regulatory forms such as ECR, Form 16, etc., includes options for IT returns
F&F Calculations: Automated calculations for gratuity, leave encashment, and asset recovery ensure a seamless exit process.
Streamlines access for multiple ventures in business by using the same credentials through multi-company payroll.
Eliminates the need for a developer by using the conditional formula builder to customize and change salary heads with custom formulae.
Custom Payslip Designer & Advanced Reporting Features
sumHR, a cloud-based payroll software guarantees accurate tax compliances, timely salary payments, and automatic payroll calculations, enabling businesses of all sizes to obtain an AAA rating for their payroll process. With this software, payroll chaos is reduced, and the exit process is seamless.
Compliance & Risk Management
Flexibility to define unlimited income and deduction components
Ease in tax filings for employees
Manages Loan/advance salary disbursement
Enables Flexible Benefits Plan
Establishes Full & Final Settlement Policies
ZingHR is India’s premier HCM platform offering cutting-edge HRTech solutions. It is on a mission to empower your workforce and improve your business outcomes with better HR strategies and tools including on-time and adaptable payroll processing
Salary Inputs: Provides and updated with all the information required for process salary
Audit: Aids to check upon the salary status and detect any discrepancies in the process
MIS Output: Generates important documents such as the salary register and PF report, which are necessary for verification purposes.
Reconciliation: Graphical representation of the payroll. It shows an overall snapshot in a visual format. Payday, month, status, how many employees are existing and how many are new, on hold salary etc.
Zero Touch Payroll: Processes payroll in real time with seamless efficiency
BambooHR serves as a single reliable source of data for managing the information necessary for running payroll. This ensures that any updates made in the system automatically reflect in the payroll process, providing a sense of security and accuracy.
BambooHR offers a convenient way for employees to access all their payroll information in one system, including pay stubs and direct deposit accounts.
instant access to over 100 standard, exportable payroll reports for benchmarking purposes
Information in BambooHR like wages, hours, account numbers, benefits, deductions, and withholdings automatically flows into payroll, so you can skip the double entry and feel confident your data is up to date.
In conclusion, the article serves as a valuable resource for HR professionals in Indian organizations seeking to identify and compare the most suitable payroll software options for their needs. By offering a detailed review and comparison of the top 10 payroll software solutions available, HR professionals can make an informed decision and choose a software solution that meets their specific requirements. This will not only streamline the payroll process but also ensure accurate calculations, timely payments, and compliance with legal requirements.
If you are in search of HR software, whether cloud-based or on-premise, visit the hrtech marketplace for more information on various providers and their Payroll systems. The platform serves as a one-stop destination to find the best payroll software in the market, helping you to choose the perfect match for your organization's needs.
About the Author:
Bhumi Shah is a part of Digital HR- Research and Consulting team at hrtech. With a PGDM in Human Resources and having worked as a content writer in the past, she aims to understand and highlight the key happenings in the HRTech market space and find out the in between trends hidden amidst the funding and consolidation deals.