Mumbai is undoubtedly a city of dreams and is India’s financial centre. From emerging start-up businesses to transnational corporations, every kind of company is located here. The city offers a varied range of job openings in the field of information technology, the tech industry, logistics, sales executives and more. These opportunities attract an influx of talent from every corner of the nation. Managing such talents’ timely salaries becomes a difficult and strenuous task. This is when a need arises for an automated Payroll solution to handle such a whirlpool of talents efficiently and with ease. Embracing such automated Payroll software in Mumbai’s competitive job market offers numerous advantages for any organisation looking to attract and retain talent, ensuring smooth payroll processing with data security. It also improves employee satisfaction and contributes to any company’s overall success in this vibrant city of dreams.
In a crowded city like Mumbai, where enterprises and career opportunities are growing on a large scale, the automated Payroll solution provides relief. This article will help you in selecting the best Payroll software in Mumbai that meets all the requirements of your organization.
Payroll software is a cloud-based solution that helps streamline all your salary calculations and automates the payroll process in your organisation. Any business or organization adapts to it to efficiently handle its payroll processing tasks and timely payments to employees. It benefits you in various aspects like the generation of payslips, tax filing, generating salary reports like reconciliation, consolidated, PF and many more. Payroll software proves to be an indispensable tool in completing complex salary calculations with ease, saves valuable time and effort, and minimizes errors, thus, saving the cost of the company.
Here are a few pointers to look out for when you are looking for the best-fit payroll software for your organization
Understand the requirements of your organization for processing payroll. Consider the number of employees, and the unique features like tax calculations, loan advancement, arrears calculations, generating reports, etc. while buying the software.
Look out for the best options available in the budget goal you have set. There is no need to buy very costly software if there are limited employees to manage. Also, check if the software provides scalability and grows with your organisation.
As you need to store employees’ sensitive data while calculating payroll, you must ensure the software adheres to adequate security measures and compliance standards to protect this information.
If you are a legal entity, you must report the employment data of your employees to the state and central government. Ensure that the software is fully compliant to avoid any legal charges.
You will need the real-time data of employee leave, attendance and performance to calculate payroll accurately. If you’re using software, integration of internal modules with the payroll system is a must. It prevents data duplicity and allows you to maintain a single source of truth.
If you are a large organization, you can look for some advanced features the software offers, like an ESS portal, arrear calculation, loan management and performance-linked payroll solution.
There are numerous Payroll software available in Mumbai. Selecting the right, cost-effective and reliable platform for your organization becomes a task. Well, not to worry. We have listed down a few top Payroll software available in Mumbai.
factoHR is a cloud-based automated solution that effortlessly adapts to any business. Whether you’re a large company or an emerging firm in Mumbai, it helps you easily streamline all your HR processes with ease. factoHR provides excellent scalability and enhances the performance of the core HR department. All the complicated tasks like managing salary calculations, payments, statutory compliances, IT deductions, ESIC, PF, Loan calculations etc., become very facile and reliable to perform with factoHR.
Apart from automated Payroll platform, it also provides a factoHR mobile application that helps employees undertake many activities, such as punch-in and out timings, downloading payslips, applying for leave, etc. On top of that, it also simplifies HR tasks with its revolutionary features like an AI-supported chatbot, selfie punch, and geofencing.
| View and download payslips and check YTD income with graphs and monthly breakups through ESS portal. | Retro changes like unclaimed overtime, missed punch, salary revision, unapproved leave or holiday in case of attendance or any compensations can be rectified or claimed. |
| Download statutory forms and check your IT deductions from mobile app. | Statutory compliance is automatically calculated at the time of arrear calculation. |
| Configuring salary with any number of salary components with a formula-driven rule engine. | Handling of all statutory compliance like PF, ESIC, EDLI, TDS, etc |
| Configuring Payroll process easily by allowing you to create multiple Payroll groups based on an employee’s salary, calendar assigned, and location. | Generation of various reports and forms like form 16, form 24Q, labour welfare fund report, computes form 5 and form 5A and many more. |
| ISO accredited and SOC Type 2 certified cloud data centre. | Payroll can be linked with a Performance management system where employees’ performance is linked with their goals (OKR) and KPI with their compensation. |
| Follows business continuity standards and allows you to restore your data in case of any system failures. | Wizard-driven salary process guides you through each payroll step. |
| Capable of handling 2000 RPM of varied traffic per application server. | Off-cycle Payroll process feature to make all necessary payments that aren’t part of regular calculations. |
| Allows auto EMI deduction, and employees can request various types of loans. | Custom reports can be built using the custom report builder option by selecting the relevant data source. |
PayCare is a complete HR and Payroll management solution. During its setup, it supports you in its various activities, like the payroll application implementation and migrating payroll data. It also helps in setting up screens that allow you to record your company details and create master databases of employees, which include designations, departments, leaves, pay, pay dates, holidays, taxation, credits, deductions, and other things. PayCare Payroll offers a true out-of-the-box experience with initial master and employee data setup.
HRM Thread is an online and web-based Payroll software that is suitable for small and large businesses. This is a very cost-effective payroll processing software and makes HR management easier by giving simple access, a user-friendly interface and full support. HRMTHREAD enables you to handle payroll for your business more quickly and effectively with accuracy and data security. It also allows you to generate various salary reports. You can realise the amount of time savings and costs by trusting this payroll software.
One of the well-known HR management systems is Gizmosys HRMS Software, which can manage all payroll-related tasks for the HR department with ease and accuracy. It provides a comprehensive service in payroll & Compliance. In this rapidly growing business environment, it provides payroll software and payroll outsourcing services that solve the complexity of processing payroll.
AddettoHR is an HRMS and Payroll software in Mumbai that helps you improve HR efficiency with its explicable features. It shortens the gap between HR and employees by reducing complicated tasks and making them possible online. Just like the other software, it helps you to collaborate with multiple data and generate reports. Apart from Payroll, it helps you with tax and expense management and generates reports for the same.
People HR is a very handy and simplified HR software. It gives complete automation and streamlines your payroll processing effortlessly. It is suitable for small businesses to run their payroll efficiently. It provides a robust solution in calculating payroll that is calculating salaries to generate payslips for employees.
Opportune HR works on a collaborative approach and is built on strong business ethics. It is a cloud-based HRMS software that allows you to process payroll with accuracy and precision. This software ensures consistency in all payroll features and is highly configurable software in terms of payroll taxation and compliance. It also offers payroll outsourcing services for which they have a professional team and trained HR personnel.
EasyHR eases out any type of complex payroll processing task by providing a configuration panel that integrates with other modules like leave and attendance management systems. It is very simple to use and provides complete automation to all payroll processing tasks thus saving time for the HR department. It works efficiently for all kinds of organizations and provides a comprehensive solution to the employees with its ESS module.
OfficeNet comes to the rescue in terms of difficult and complex processing of payroll as there is an increased demand for workforce in this era of globalization. It is a technology-driven automated payroll system that is available locally and globally with a single employee database. It allows you to run payroll smoothly and adheres to full compliance requirements. It keeps you updated on tax laws and ensures productivity and accuracy.
PionHR is a cloud-based HRMS software that is best known for its AI-driven business solutions. It provides automated and AI-powered HR processes which not only result in clean, error-free reports but also save businesses time, money, and manpower. You can also take advantage of features like a smooth ESS portal, payroll management, and leave management. Consider choosing PionHR if you’re looking for features like AI-driven talent management, simplified hiring procedures, and automated onboarding tools.
In short, robust payroll software provides you ample benefits which include efficiency of the HR department, provides data accuracy, remunerating employees timely, ensuring compliance with laws, and enhanced data security. All in all, it saves time and cost for HR. Implementing payroll solution helps you increase the overall efficiency of your organisation and eases out the payroll management process. These top 10 payroll software in Mumbai will simplify the life of HR significantly and get ahead of the frustration caused by manual payroll processing.
Note: It has come to our attention that fraudulent individuals are falsely posing as representatives of factoHR and offering fake job openings. Please be advised that factoHR does not offer any part-time or work-from-home task-based job opportunities. Our official communications are solely conducted through the @factohr.com domain. We do not engage on social media platforms like WhatsApp, Facebook, Telegram, Instagram, or public domain emails such as Gmail, Outlook, or Hotmail for official communication. Please note that we never ask for any payment in exchange for employment. Your safety is our priority, so kindly avoid sharing sensitive information through any communication channel. Stay vigilant, secure, and safe.
Continue with Google