Below Modules are Also Available on factoHR Retirement Benefit Platform
General Provident Fund Trust Management Made Simple with factoHR
factoHR’s general provident fund software makes the employees’ benefit schemes for their retirement easy to manage from the automated solution with quick calculations and accounting. The solution also empowers employees with an employee self-service portal to access balance details and statements.
Reduced Manual Input
factoHR’s automated solution allows you to manage all the investment-related activities online and reduce your burden in performing these tasks manually.
Simplified Interface
factoHR offers you a simple and interactive interface to understand and operate your fund management through an advanced online approach.
Real-time Reports
With factoHR, you can minimize your efforts made in gathering and storing data and save your time by generating real-time reports just in a single click.
What comes in factoHR’s GPF Trust Software?
Investment calculation and storing are challenging when you handle it manually, but with factoHR, it’s not. Control all your employees’ shares for their retirement with the below-mentioned features provided in the factoHR’s solution.
General Provident Fund
factoHR’s general PF trust solution gives you a single platform to manage your trust operations like membership, investment, financial accounting, etc., efficiently.
Accounting
Complete all the entries and generate updated reports needed during the accounting process to finish all the audit necessities before time.
Reports
factoHR’s employee general provident fund solution provides a reporting tool that lets you generate reports with all the fresh data related to accounting, investment, and general membership, to increase operational efficiency.
Loans & Withdrawals
With auto-calculation of loan eligibility, you can configure your employees’ loans and withdrawals policy. The option allows you to sanction loans, store the data and track the status of the application in real-time.
Reminders
Get timely and critical reminders for interest dues, pending applications, uninvested balance, bank reconciliation, maturity dues, etc., and not miss/delay your priorities.
Import Bulk
factoHR lets you save time by allowing you to import all the transaction details in bulk and complete all types of transactions faster.
Bonus Interest
With factoHR’s quick processing, you can calculate and post the bonus interest for all the members complying with your policy.
Accounting
Perform real-time accounting, two eye approvals, automatic voucher posting, and ready-to-download reports, and leave behind your worries about complex accounting.
Bank Transactions
Complete your member’s bank payment transactions and generate receipts, all from a single platform.
Bank Reconciliation
Ensure financial consistency by reconciling your organizational accounts and cash records with their bank statements.
Inter-bank Entries
factoHR’s integrated environment helps you connect with multiple banks and manage all the required entries for quick journalization in all the accounts.
Journalization
factoHR lets you journalize members’ interest entries and amortization and scrutinize the automatically program-generated entries.
Ledger Reports
Create and generate ledger reports related to the records of accounts transactions in multiple formats just as you want to.
Balance Sheet
Generate your company’s balance sheet statement, including all your financial assets and entries, in one secured place.
Membership Management
Our cloud-based solution provides detailed modules so you can manage member information and member transactions from one place only.
Monthly Contribution
Upload your member’s monthly contributions on time through the portal along with the accounting needs and generate a contribution checklist after the process.
Loan Application
factoHR lets you control and operate different kinds of loans where you can ensure on-time recovery and accurate calculation of loan interest for refundable cases, reducing all your manual work.
Settlement Application
You can create a withdrawal application and complete the payment in bulk with distinct payment alternatives with accounting directly from the system. You can also generate post-payment documents for members’ requirements.
Transfer Application & Annexure K
Run transfer out application and payment on time according to the rule of EPFO with factoHR’s tracking system. Generate essential documents like Annexure, covering letter, and payment voucher.
International Worker Checkpoints
factoHR’s system enables international workers checkpoints for compliance in monthly contribution upload, settlement payment, statutory reports, and ECR generation.
Member’s PF Statement
factoHR lets you generate PF statements for either individual or multiple employees at a time with a facility to share these statements through email directly from the portal.
Organize Your General Provident Funds with factoHR Today
Investment Management
With features like mark to market valuation, investment evaluation, etc., monitor and improve your trust’s investment ROI.
Investment Evaluation
factoHR’s GPF trust solution allows you to select the security after their comparisons, add various securities before the purchase of any investment, and record your investment transaction. All these with proper accounting.
Mutual Fund/Equity
Manage all the mutual funds and equity investments. Further, you can buy, generate, and sell all of them with less manual intervention.
Accrued Interest
Generate the details of interest accrued for all the investments in a single click and run automatic posting of the accrued JV at every year-end.
Auto-computed Yield
With the application of automatically calculated interest yield for organizations’ all the investments, which can assist you in decision interest distribution of members.
Investment Reports
factoHR lets you generate investment summary reports helping you to analyze the final interest amount in each category.
Mark to Market Facility
You can measure the fluctuation or total profits or losses over the organization’s mutual funds and equity investment.
Employee Self Service Portal
With our ESS portal, your employees can easily access their information, check fund balance, apply settlement, submit loan applications, etc., which reduces the burden on the admin.
PF Balance & Statement
Employees can check their PF balances and generate statements for the current or previous financial year through their ESS portal.
Loan Eligibility & Application
Employees can check their own loan eligibility, submit a loan application, and upload required documents on their own online.
Settlement Application
factoHR gives an option to apply for settlement of the resigned employees, which can be tracked by them.
Nomination Update
Members can easily update their nominee details without asking their superiors to do so through their own portal.
UAN KYC
You can allow employees to enter their KYC details and attach essential documents for proof to complete the verification process.
Pre-filled Forms
Employees can directly generate and download various pre-filled forms like 10C, 10D, and Form 2 rev online and can submit them for further process.
Comprehensive Features to Manage Your PF on the Go
PF & SA Balance
Check PF and SA balance from the mobile app anytime, anywhere.
Loan Eligibility
View loan eligibility and submit a loan application online.
Nominee Details
View and update nominee entries directly from the mobile application.
PF & SA Statement
Obtain PF and SA statements for financial years.
KYC Document
Upload and change KYC documents from the mobile device.
Transfer-in History
Track your transfer in application status from the mobile app.
Control Your Employees’ Investments with factoHR Today
Maintain your employee’s GPF membership and investments details factoHR’s general provident fund software and mobile app and go paperless in the whole process.
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