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.
Complete all the entries and generate updated reports needed during the accounting process to finish all the audit necessities before time.
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.
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.
Get timely and critical reminders for interest dues, pending applications, uninvested balance, bank reconciliation, maturity dues, etc., and not miss/delay your priorities.
factoHR lets you save time by allowing you to import all the transaction details in bulk and complete all types of transactions faster.
With factoHR’s quick processing, you can calculate and post the bonus interest for all the members complying with your policy.
Complete your member’s bank payment transactions and generate receipts, all from a single platform.
Ensure financial consistency by reconciling your organizational accounts and cash records with their bank statements.
factoHR’s integrated environment helps you connect with multiple banks and manage all the required entries for quick journalization in all the accounts.
factoHR lets you journalize members’ interest entries and amortization and scrutinize the automatically program-generated entries.
Create and generate ledger reports related to the records of accounts transactions in multiple formats just as you want to.
Generate your company’s balance sheet statement, including all your financial assets and entries, in one secured place.
Upload your member’s monthly contributions on time through the portal along with the accounting needs and generate a contribution checklist after the process.
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.
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.
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.
factoHR’s system enables international workers checkpoints for compliance in monthly contribution upload, settlement payment, statutory reports, and ECR generation.
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.
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.
Manage all the mutual funds and equity investments. Further, you can buy, generate, and sell all of them with less manual intervention.
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.
With the application of automatically calculated interest yield for organizations’ all the investments, which can assist you in decision interest distribution of members.
factoHR lets you generate investment summary reports helping you to analyze the final interest amount in each category.
You can measure the fluctuation or total profits or losses over the organization’s mutual funds and equity investment.
Employees can check their PF balances and generate statements for the current or previous financial year through their ESS portal.
Employees can check their own loan eligibility, submit a loan application, and upload required documents on their own online.
factoHR gives an option to apply for settlement of the resigned employees, which can be tracked by them.
Members can easily update their nominee details without asking their superiors to do so through their own portal.
You can allow employees to enter their KYC details and attach essential documents for proof to complete the verification process.
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.