PF Software

An Advance Way to Automate your Employee’s Funding Management With PF Software. One Stop Solution For Trust and Gratuity Management.

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pf software

PF Management Software Solution

FactoHR’s PF Management Software Solution is a one-stop solution which will be helpful in PF (Provident Fund) Trust Management, gratuity trust & superannuation. With our employee provident fund software, you can manage all your employee’s gratuity & PF benefits. Your workforce can easily check their PF balance and related details from our platform. With all the solution integrated at one place, factoHR creates a platform which is best in accessibility and simple interface.

What unique things do you get with employee provident fund software?

With our employee provident fund software solution, you can manage many benefits schemes for retirements like defined contribution, hybrid funds & various other gratuity plans. Our provident fund software solution offers you financial accounting, employee self-service portals & many AI based reporting tools and auto reminders.

Provident Fund

Manage all your workforce’s provident fund along with the accounting and reporting in our PF Software. Reports can be customized for auto-generating in user-defined formats.

Superannuation

Manage superannuation of your employees to provide them with the benefits of pension plans after their retirements. These funds grow without any tax implication.

Gratuity

Organizations can implement the custom formula for their gratuity payments to all their employees who have completed 5 years in their organizations.

Why go with our PF Software?

FactoHR lets you download prefilled withdrawal and nomination forms which provide a simplified and fast approach towards gratuity applications. Following are the detailed functionalities of our PF Software.

Provident Fund


Accounting

Complete your audit before time in a hassle-free manner to pass all types of accounting entries based on which you will be able to generate reports for Ledger, Voucher, Trail balance, Revenue account, and balance sheet for accounts finalization.

Reports

With our employee provident fund software, we provide effective reporting tools 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.

Member Interest Calculation

Automated PF software to calculate and post member wise interest with a different interest rate in a quick manner. Also allows you to generate provisional interest run to get to know interest liability.

Loans & Withdrawals

Our loan management eases your configuration of loans & withdrawal policy as per your requirements & also lets you auto calculate loan eligibility amount and sanctioning of it. You are allowed to track your status of the application.

Role /Rights

With our PF management software, You can manage multiple users by defining different roles and what rights to be given to them for day to day activities based on their work profile.

Reminders

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.

Statutory Compliance

Remain Compliant with RPFC or IT and eliminate penalty with the help of our statutory module. Automated PF software to calculate and generate all the statutory compliance.

Import Bulk Transactions

Import bulk transactions will allow you to process various transactions through file upload which will reduce your time in transaction processing.

Investment Management

Manage Investment effectively and increase the yield of your fund with the help of our investment module.

Membership Management

With help of our FactoHr Retirement benefit software, manage trust members easily and perform transactions quickly.

Bonus Interest Calculation

Helps you to calculate and post bonus interest with member wise effect.

Superannuation Fund


Accounting

Complete your audit before time to pass all types of accounting entries like Bank Receipt/Payment, Bank Reconciliation, contra, Journal & generate ledge based on that.

1/3,2/3 Commutation

Our employee provident fund software will allow you to process settlement transactions with all types of options like a full refund, full pension including 1/3,2/3 commutation.

Reports

Effective Reporting tools 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.

Investment Management

Manage Investment effectively and increase the yield of your fund with the help of our investment module if funds are managed in-house.

Role / Rights

You can manage multiple users by defining different roles and what rights to be given to them for day to day activities based on their work profile.

LIC interest upload facility

In case funds are managed by LIC, you will be able to upload member wise interest declared by LIC.

Annuity Purchase Report

You will get Annuity purchase report member wise just in one click.

LIC Annuity Tracking

Allow your employees to efficiently track their LIC annuity purchased through employee self-service portal to stay updated.

Reminders

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.

Import bulk transactions

With PF software solution, you can Import bulk transactions will allow you to process various transactions through file upload which will reduce your time in transaction processing.

Gratuity Fund


Data for Actuary Valuation

Gathering data for actuary valuation will become easy now as You will get all the required data for Actuary Valuation of Gratuity trust from the PF software itself.

Custom Formula for Gratuity Payment

With employee provident fund software, You can manage multiple custom formulae for gratuity payment as per your requirement and criteria.

Accounting

Complete your audit before time in a hassle-free manner to pass all types of accounting entries based on which you will be able to generate reports for Ledger, Voucher, Trail balance, Revenue account, and balance sheet.

Reports

Effective Reporting tools 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.

Investment Management

Manage Investment effectively and increase the yield of your fund with the help of our investment module if funds are managed in-house.

Gratuity, Company & IT Act

Replace excel and calculate complex gratuity quickly and accurately as per Gratuity Act, Company Act & IT act with TDS implication.

Import Bulk Transactions

Import bulk transactions will allow you to process various transactions through file upload which will reduce your time in transaction processing.

Accounting


Bank Receipt/Payment

You will be able to pass all types of bank receipts and payment transactions available for all payment and receipt modes with minimum manual working.

Bank Reconciliation

Reconcile your bank on day to day basis for effective fund management with the help of our bank reconciliation module.

Contra

With our PF Software, you can manage interbank transfer entries which are recorded to easily reverse an entry on the other side of an account.

Journal

Auto posting of various journal entries like monthly contribution, member interest posting, accrued interest, reversal of accrued interest, amortization etc

Ledger Report

You will be able to extract as well as print ledger report with various options of report generation in PDF or Excel format.

Voucher Report

Generate/print all types of voucher in bulk based on voucher date, voucher no and transaction type wise.

Trial Balance

Generate a multi-level trial balance sheet for your organization as per the requirements ranging from Level 1 to level 4, this will help you in financial analysis.

Revenue Account

Generate revenue account for finalization of accounts as well as for provisional financial statement any time having an effect of all transactions with accuracy and precision in your format.

Balance Sheet

Organizations can generate balance sheet for closing accounting and auditing in company configured format to clearly see the revenue and financial condition.

Cash Flow

Track your cash flows with the projection of income & expenditure for each month for advance planning of investment considering pattern wise investment already done as per EPFO guidelines.

Membership Management


Monthly Contribution

Facility to upload monthly contribution through file having accounting effect as well. You will also get contribution checklist report for contribution uploaded.

Loan Application

You will be able to process Non-refundable as well as Refundable loan applications & payment transactions as per set criteria with less manual intervention.

Settlement Application

Process settlement application and payment in bulk through file uploading as well as manually with various payment options and having taxation effect. Also, generate post payment documents for employee communication.

Transfer in application

Helps you to track the status of transfer in an application created, to generate documents require to initiate the transfer in and to process the receipt entry once amount received.

Transfer Application & Annexure k

Process transfer out application and payment with an effective tracking mechanism. Also, generate post payment documents to like Annexure k & covering letter.

International Worker Check Points

Availability of International worker checkpoints for contribution uploading, ECR generation, settlement payments and generation of statutory reports for IWs.

Member’s PF Statement

Generate member’s PF statement for all or selected employees as per your requirement to share the same and notifying them through E-mail.

Investment Management


Investment Evaluation

Make a suitable selection of the investment based on your investment criteria where you will be allowed to add as many securities as you want before purchase to get an idea which security is to be purchased.

Mutual Fund & Equity

Manage mutual fund and equity investments by using our software efficiently and effectively. Create, purchase, sale and book profit on redemption of units with lesser manual working.

Interest Accrued

Get investment wise accrued interest details for all type of different investments just in one click wherein you will also be able to pass year-end accrued interest JV automatically.

Investment Yield

You will get auto calculated interest yield for your investment corpus based on which you can take the decision on distribution of interest among members and employees of your firm.

Interest Summary

You can generate interest summary report that contains details like interest received to date, amount, voucher no, coupon amount etc. Also, you will get details if interest is not received or received more or less.

Investment Amortization

No need to maintain Amortization calculation working manually. Configure the amortization method you are following and report can be generated accordingly, also accounting JV will be created.

Investment Register

Script-wise register will be available for the ready reference that will give you details of opening investment, current year purchase, Current year maturity, amortization done and finally the closing balance of investment pattern wise.

Investment Summary

The compact format of investment register that is Investment summary report which practically helps you to check your pattern wise total investment corpus as on current date.

Mutual Fund/Equity Management

Companies will be able to manage a mutual fund and equity investments by using our software efficiently and effectively. Purchase, sale and book profit on redemption of units with lesser manual working.

Mark to Market Facility

You can capture as on date NAV for available mutual fund scheme and based on that you will be able to compute mark to market gain or loss for your mutual fund investment.

Employee Self Service


PF Balance

An employee can easily check their PF balance as on date & anytime to notice any change.

PF Statement

The employee will be able to generate PF statement for the current year as well as for past financial year.

Loan Eligibility & Application

An employee can himself apply for the loan by checking loan eligibility online. And can also upload documents required for loan sanctioning.

Settlement Application

An employee can create a settlement application once left the organization himself and can also check updated status of his application.

Nomination Updation

Nominee details will be available on the dashboard. And in case of any change, the employee can update the same.

UAN KYC

Your company’s employee will be able to add their KYC details for verification by attaching documents with the application.

Prefilled Forms

Employees will get prefilled form 10C, 10D and Form 2 rev that can be downloaded and submitted for further process.

Loan & Transfer in History

Manage and analyze the loan transfer history which is already disbursed and is received previously in past.

Statutory


ECR File Generation

ECR is one of the crucial aspects of statutory compliance for PF trust that can be managed with Automated employee provident fund software by taking care of various checkpoints of ECR generation. employee provident fund software

Monthly E-Return

Make your employees file their income tax digitally by E-return on time & without no errors with employee provident fund software generated files with prefilled necessary information.

KYC ECR Generation

You can update KYC details for members on the EPFO portal in bulk by using PF software generated KYC file in the format provided by EPFO.

Form 11 Generation

Get pre-filled Form 11 generated by the provident fund software using master data inserted for further process and submission with FactoHRs PF software.

Form 4 PS/5 PS

Easily auto-generate Form 4PS & Form 5PS month wise as well as employee wise for carrying out statutory compliance for your employees.

Statement -IW

Statement of IW will be generated based on the master data inserted for IW for further submission where international worker related checkpoints will also be taken care.

Form 2 Rev

Get pre-filled Form 2 rev after creating and assigning nominee for PF and EPS for further process.

Form 10 C/ Form 10 D

You can generate Form 10 C/10 D for pension claim with accurately pre-filled data for direct submission.

Break in Service

You will be able to generate Break in service report in word and PDF format required for pension claim submission.

Form 13 Rev

Once transfer in the application created, generate Form 13 Rev for initiation of transfer claim.

Mobile Application


PF & Superannuation Balance

Access PF & Superannuation balance anytime anywhere.

PF & SA statement

Generate PF & SA statement for current F.Y as well as past F.Y

Loan Eligibility & Application

Apply for a loan after checking eligibility and get approval online.

KYC Documents

Upload and update KYC documents.

Nominee Details

Update and check nominee details through the mobile application.

Transfer in History

Check the status of your transfer in application from mobile.

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