Benevolent Fund Trust

A benevolent fund supports members and their families through
periods of hardship that can arise for reasons outside their control.
benevolent fund trust for support members families

Multiple Scheme Configuration

You can configure multiple schemes available for different purpose like Medical Assistant scheme or death benefit scheme etc.

multiple scheme management and configuration

Scheme Wise Monthly Contribution

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.

Manage your funds with factoHR Today

Premium Payment And Claim Amount

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.

manage member wise premium payment and account claim
easy investment management with factohr

Claim Application/Settlement

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.

Ease Of Accounting

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.

  • Bank Receipt/Payment

  • Bank Reconciliation

  • Contra

  • Journal

  • Ledger & Voucher Report

  • Balance Sheet

  • Revenue Account

Investment Management

Investment management becomes easy with the help of factoHR benevolent fund management software.

  • Investment Evaluation

  • Purchase Of Mutual Fund/Equity

  • Accumulated Interest Analysis

  • Investment Yield

  • Investment Summary

  • Mark To Market Facility

factoHR Benevolent Fund Trust Management Solution Benefits

With factoHR’s benevolent fund trust, manage your investments and members’ contribution online and automate the claim and settlement procedures. factoHR is recognized to be a trusted brand in helping organizations leverage GPF Trust management software, Pension Management, Superannuation Fund Management, and many other trust funds.

Simplified Configuration

Configure the program to suit the specific and unique requirements of your organization.

Reduced Expenses

Reduce unnecessary expenses on purchasing and maintaining physical records by doing the same online.

Straightforward Procedures

Simplify the claim and settlement processes as factoHR takes care of all the complexities for you.

Frequently Asked Questions About Benevolent Fund Trust

What do you mean by the benevolent fund?
Will factoHR assist my accountants in processing
and settling the benevolent trust?
How frequently do I need to contribute to
these schemes?
How does your software help in claim application
and settlement?
Does your software allow me to invest in more than
one scheme?
How does this software help in investment
management?

Automate your investment management with factoHR Today

factoHR’s benevolent trust solution helps the organization with investment management for the benevolent fund to support employees during the time of hardships.
Schedule Demo