A benevolent fund supports members and their families through
periods of hardship that can arise for reasons outside their control.
Configure multiple schemes for Benevolent fund trusts like Medical Assistant or Death Benefit as per your requirement.
Upload member-wise contributions for all configured schemes and download a reconciliation report to check if the contribution is received or not.
factoHR allows you to upload and store information of member-wise premium amount paid and insurance claim amount received, and generate up-to-date reports for the same.
The insurance claim made by the member will be tracked against the index number. When the insurance company receives the claim amount, a bank receipt entry will be passed through the system. Similarly, a bank payment entry will be passed and tracked when the member receives the amount.
factoHR’s real-time, integrated, and centralized accounting, two-eye approvals, auto JV posting, and ready-to-file reports minimize all your accounting challenges.
Using our all-in-one investment management, perform evaluation, mark to market valuation, manage all types of security and improve the ROI of your trust’s investment.
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.
Configure the program to suit the specific and unique requirements of your organization.
Reduce unnecessary expenses on purchasing and maintaining physical records by doing the same online.
Simplify the claim and settlement processes as factoHR takes care of all the complexities for you.
factoHR’s benevolent trust solution helps the organization with investment management for the benevolent fund to support employees during the time of hardships.
