PF Software, Employee Provident Fund Software With Mobile Apps

Unique Features Offered By factoHR’s Provident Fund Trust Software

factoHR’s PF software lets you manage benefits schemes for retirements like defined contribution, hybrid funds, benevolent trust, provident fund, and various other gratuity plans.

Provident Fund

Manage all your workforce’s provident fund-related activities along with accounting and reporting in factoHR’s Exempted provident fund trust software.

Superannuation

Manage Superannuation Fund Trust quickly and efficiently with benefits of pension plans after retirement.

Gratuity

Replace excel and calculate complex gratuity quickly and accurately by implementing a custom formula for gratuity payments to members.

Provident Fund

Accounting

Process all accounting entries based on which you can generate all types of accounting reports to complete your audit in a hassle-free manner.

Reports

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.

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 sanction it. You are allowed to track the status of the application.

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

Process various transactions through import bulk transaction option which helps to reduce time in transaction processing.

Bonus Interest Calculation

Calculate and post member-wise bonus interest as per defined policy.

Accounting

Bank Transactions

Get the ease-of-functioning as factoHR offers you the opportunity to carry out receipt and payment transactions from a sole platform.

Bank Reconciliation

Reconcile the organization’s cash book with their bank statements to ensure financial consistency and to correct any human errors.

Inter-Bank Entries

Manage entries between multiple banks to ensure swift journalization in the account on the opposite end.

Journalization

Journalize entries related to interest and amortization as well as scrutinize the entries that are generated by the program automatically.

Ledger Reports

Create and download the ledgers either one or more than one at a time in multiple formats (PDF or Excel).

Balance Sheet

Provide assistance to the auditors by developing the balance sheet in the format configured to suit the needs of the organization.

Manage Membership

Manage Contributions

Helps you to upload contributions for every month through a file with accounting effect. Also, get a contribution checklist report for contributions uploaded.

Loan Application

Manage and process all types of loans as per set criteria without any manual intervention. Also, ensure timely recovery and accurate loan interest posting for refundable loan cases.

Settlement Application

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.

Transfer Application & Annexure K

With an effective tracking mechanism, process transfer out application and payment in a 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.

International Worker Checkpoints

Inbuilt checkpoints for international worker compliance at various stages like contribution uploading, ECR generation, settlement payment, and statutory reports generation.

Member’s PF Statement

Get various options to generate PF statements for an individual employee or for selected employees or for all employees as per your criteria. Also, avail the facility to share PF statements through Email.

Investment Management

Investment Evaluation

The 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.

Mutual Fund/Equity

Expertly handle mutual funds as well as equity investments and generate, buy and sell them with minimal human input.

Accrued Interest

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.

Auto-computed Yield

Receive automatically computed interest yield for all investments of the organization to assist in coming to a decision on members’ interest distribution.

Investment Reports

Get reports summarising the details of the investments to determine the total amount of interest earned by each investment category.

Mark To Market Facility

Capture profits or losses on the company’s equity and mutual fund investments as on the NAV dates.

Why factoHR’s PF Trust Software Is A One-stop Solution To Handle All Types Of Retirement Trusts?

factoHR is a comprehensive suite to allow trustees to manage all types of trust activity efficiently and transparently. factoHR’s PF Trust Software comes with members, investment, accounting, and analytics modules that empower you to keep an eye on all trust activities through one system only. With factoHR, you can manage Provident Fund, Gratuity, Benevolent Fund Trust, and Pension Management, and many more on a single platform. Moreover, factoHR’s advanced Mobile Application and Employee Self Service portal empowers employees and reduces time and cost to maintain trust funds.

ESS Portal

PF Statement & Balance

Offers facility to employees to check their balances on their own. Also, employees can generate PF statements for the current or past financial years online.

Loan Eligibility & Application

Facility to check loan eligibility and to apply for loans by employees online. Also, documents can be uploaded for the applied loan for further process.

Settlement Application

Availability of online settlement application for left employees. Employees can also check application status with this functionality.

Nomination Update

Members can add or update nominee details on their own through ESS.

UAN KYC

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

Pre-filled Forms

Download pre-filled Form 2 rev, from 10C, and form 10D online and submit for further process.

Statutory

ECR File Generation

Manage ECR compliance with an automated system to generate an ECR challan that can be directly uploaded on the EPFO portal for further process with both Arrears as well as Regular challan option.

Monthly E-return

You will get all the data ready as per EPFO format to file monthly E-return on time.

KYC ECR Generation

Manage KYC compliance by using a system-generated KYC updated file as per EPFO format that can be uploaded directly on the EPFO portal for further process.

Statement IW

Generate Statement of IW to be uploaded on IW portal as per statutory guidelines.

Break-in Service

Generate break-in service report required for pension claim submission.

Form Generation

Generate legal forms like Form-4 (PS/5 PS), Form 2 (Rev.), Form 11, form 13 (Rev.), Form 10 C/D, and Statement IW while receiving monthly e-returns, ECR files, and KYC ECR.

Frequently Asked Question About Provident Fund Software

What is PF software?

Provident Fund software assists the employers and employees manage employees’ PF trust scheme-related tasks directly from the software. Such tasks can include investment management, financial accounting, bank reconciliation, reporting, interest calculation, loan application, settlement application, KYC verification, any other similar tasks which can be cumbersome to perform manually. All these tasks can be efficiently accomplished with the ESS portal.

What are the unique features that PF software provides?

Provident fund solution allows the employees to manage many retirement benefit schemes like PF, superannuation, and gratuity funds with accounting, employee self-service portal, AI-enabled reporting tools, and automatic reminders. The software helps accomplish the complex and time-consuming calculations of retirement funds like gratuity, etc.

How does employee self-service assists employees in PF
software?

With employee self-services, the employees can manage most of the PF-related information without requesting HR to intervene. Here are the functionalities of using an ESS portal:

Review Balance: At any time of need, employees can check their fund balance to stay updated.
‍Statement Generation: Within the portal, the employees can generate their PF statements online for any financial year.
‍‍Loan Facilities: Employees can apply easily for loans by uploading documents through the online portal.
‍Settlement Facility: The employees who left the scheme can apply for online settlement requests directly from the portal.
‍Nominee Update: With any intervention, the scheme members can add or update their nominee details.
‍KYC Application: Employees can add and verify their KYC details along with proof attachments.
‍Generate Forms: It is easy to generate/download Form 2, 10C, and 10D, within the portal and submit the same for further process.
‍‍Transfer History: Anyone with portal access credentials can analyze the loan transfer history which is disbursed.

Why should one choose factoHR’s PF software?

factoHR’s Provident Fund software takes off the burden of calculating and verifying the retirement benefit solutions like provident fund, superannuation, and gratuity. The solution itself offers the employees an ESS option to manage their data directly without including HR for most of the processes.

The software can be used for most of the processes like accounting, reporting, loan and settlement application, verification of details, etc.

To know more contact sales@factohr.com or schedule a demo at https://factohr.com/schedule-demo/

Can one access their PF details with mobile phones?

Modern solutions mostly come with quick and easy accessibility, and mobile applications come in handy if the common technology concerns are solved. So yes, anyone can access their PF details from the mobile application if their purchased software allows. The mobile application offers individuals to check provident fund and superannuation balance, generate statements, upload and update KYC documents, update nominee information, fund transfer history, and loan eligibility and application online.

Provident Fund Software

Unique Features Offered By factoHR’s Provident Fund Trust Software

Provident Fund

Superannuation

Gratuity

Why Go With Our EPF Trust Software?

Provident Fund

Accounting

Manage your PF with factoHR’s solutions today

Manage Membership

Investment Management

Why factoHR’s PF Trust Software Is A One-stop Solution To Handle All Types Of Retirement Trusts?

ESS Portal

Statutory

Next Gen Mobile App For Next Gen Workforce

PF & SA Balance

Loan Eligibility

Nominee Details

PF & SA Statement

KYC Document

Transfer-in History

Frequently Asked Question About Provident Fund Software

Monitor your investments with factoHR Today