factoHR provides all in one solution to manage all activities related to employees retirement benefit funds.Refer below detailed functionalities offered by factoHR
Process all accounting entries based on which you can generate all types of accounting reports to complete your audit in a hassle-free manner.
With our employee provident fund software, we provide effective reporting tools that will help you to improve operational efficiency and analysis. You will be able to generate all types of Accounting reports, Investment reports, and member-related reports.
Our loan management eases your configuration of loans & withdrawal policy as per your requirements & also lets you auto calculate loan eligibility amount and sanction it. You are allowed to track your status of the application.
You will get different reminders for the information that is critical and important in nature like reminders for Interest due, maturity due, Pending applications, Bank reconciliation, Uninvested Balance etc.
Process various transactions through import bulk transaction option which helps to reduce time in transaction processing.
Calculate and post member-wise bonus interest as per defined policy.
Get the ease-of-functioning as factoHR offers you the opportunity to carry out receipt and payment transactions from a sole platform.
Reconcile the organization’s cash book with their bank statements to ensure financial consistency and to correct any human errors.
Manage entries between multiple banks to ensure swift journalization in the account on the opposite end.
Journalize entries related to interest and amortization as well as scrutinize the entries that are generated by the program automatically.
Create and download the ledgers either one at a time or in varied quantity in multiple format (PDF or Excel)
Provide assistance to the auditors by developing the balance sheet in the format configured to suit the needs of the organization.
Helps you to upload contributions for every month through file with accounting effect. Also get a contribution checklist report for contributions uploaded.
Manage and process all types of loan as per set criteria without any manual intervention. Also ensure timely recovery and accurate loan interest posting for refundable loan cases.
Make withdrawal application and payment in bulk with the “upload” option and all types of payment options along with accounting effect. You will also get all types of post payment documents for employee communication.
With an effective tracking mechanism, process transfer out application and payment in timely manner as per EPFO rules. Also generate necessary documents like Annexure, payment voucher and covering letter based on trust type selection and communication option.
Inbuilt checkpoints for international worker compliance at various stages like for contribution uploading, ECR generation, settlement payment and statutory reports generation.
Get various options to generate PF statements for individual employee or for selected employees or for all employees as per your criteria. Also avail facility to share PF statements through Email.
Investment evaluation process becomes easy with the help of our investment evaluation module wherein you can add multiple securities before purchase and can select the best security after comparison. Also record investment purchase transactions once security is purchased with accounting as well as investment wise effect.
Expertly handle the mutual funds as well as equity investments and generate, buy and sell them with minimal human input.
Receive details about the accrued interest for all the investments in any format with just one click and enable automatic posting of the auto-accrued JV at the end of every year.
Receive automatically computed interest yield for all investments of the organization to assist in coming to a decision on members interest distribution.
Get reports summarising the details of the investments to determine the total amount of interest earned by each investment category.
Capture profits or loss on the organization’s mutual funds and equity investments as on the NAV dates.
Offers facility to employees to check their balances on their own. Also employee can generate PF statements for current or past financial year online.
Facility to check loan eligibility and to apply for loan by employees online. Also documents can be uploaded for applied loan for further process.
Availability of online settlement application for left employees. Employees can also check application status with this functionality.
Members can add or update nominee details on their own through ESS.
Your company’s employee will be able to add their KYC details for verification by attaching documents with the application.
Download pre-filled from 10C, 10D and Form 2 rev online and submit for further process.
Manage ECR compliance with automated system to generate ECR challan that can be directly uploaded on EPFO portal for further process with both Arrears as well as Regular challan option.
You will get all the data ready as per EPFO format to file monthly E-return on time.
Manage KYC compliance by using system generated KYC updation file as per EPFO format that can be uploaded directly on EPFO portal for further process.
Generate Statement of IW to be uploaded on IW portal as per statutory guidelines.
Generate break in service report required for pension claim submission.
Generate legal forms like Form 2 (Rev.), Form-4 (PS/5 PS), Form 10 C/D, Form 11 Generation, Statement IW, and form 13 (Rev.) while receiving ECR files, monthly e-returns, and KYC ECR.