You can configure multiple schemes available for different purpose like Medical Assistant scheme or death benefit scheme etc.
Member wise contributions for all schemes configured can be uploaded with having auto accounting JV. The contribution will be tracked against each employee and a separate reconciliation report will be available with a list of active members for whom contribution is not received.
The member-wise premium file can be uploaded by the user in the system. Based on this file, the system will create a report with the following details to be used for RTGS to the insurance agency (index no /postal address/email ID/mobile no/ Bank account details like account no, bank name, IFSC code, branch code).
Also, you can capture and maintain records for the amount received from insurance companies for medi-claim applications received from members.
In the case of medi-claim, the index number as provided by the insurance company will be maintained by the system and all applications for medi-claim will be captured memberwise with reference to the index number.
When the amount is received from insurance, the bank receipt entry will be passed and tracked against the member application and index number of the member.
When the amount is paid to the member, a bank payment entry will be passed and tracked against the member application and the index number of the member.
In case of a death claim, the application will be created by the user in the system and further receipt from LIC and payment to nominees will be tracked against the application.
Make your accounting experience easy by processing all types of transactions efficiently which will help you to generate all accounting reports for finalization and to do audits in a timely manner.
Investment management becomes easy with the help of factoHR benevolent fund management software.