Payroll Management | NuSmart HRMS
 

Payroll Management | NuSmart HRMS

The payroll management process, in a nutshell, refers to the process of administration of an employee’s financial records. This would include details of an employee’s salary, incentives, bonuses, deductions and net pay.The Payroll Management process offers systematic and consistent information to your employees. It also gives them a dedicated system for grievance redressal. Payroll process also covers the attendance verification process, overtime calculation, variable component entries, employee wise ad-hoc entries and deductions, employee salary account posting and generation of pay batch journals.

Payroll Management Features

Easy guided payroll
Our easy to use software takes care of every aspect of payroll management. We ensure that you can process the salary in just few clicks with complete accuracy while minimizing the complexity and error when compared to manual processing.
Auto Sync with Biometric Devices
Our system captures attendance, overtime and leave in real time for payroll processing. This minimizes the need to make any amends vis-a-vis manual records. NuSmart’s user-friendly feature assists HR in generating salaries of employees from different departments based on their clock-in and clock-out time.
Automatic Tax Computation
Our system is configured for direct Tax submission to IRAS portal in Singapore. Employers can use this feature for a hassle free and easy submission of their employees tax every year.
Our automated payroll system for India considers all taxable pay elements including TDs, PF, Insurance etc in accordance to government rules and regulations for an error free and accurate tax and salary computation.
Detailed Reporting
You can not only extract detailed payroll reports but you can also customize these reports as per your company requirement. Good reports will help you take right decision on time . A well consolidated report will also help you save time and manage your work efficiently.
Auto generated Pay slips
Once the Payroll is processed pay slips will be automatically generated. Payslips will also be made available on mobile app for easier and quick access by employees.
Employee access to the salary slip
Your employees will be pleased with the anytime anywhere access to pay slips, salary statements, flexi benefits report and other useful reports on their mobile App.

Country Wise Statutory Requirements

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Singapore
1) Central provident Fund (CPF):
Employers are required to pay CPF contributions every month. CPF contributions are payable for Singapore Citizens (SC) and Singapore Permanent Residents (SPR). The contribution percentage varies depending on the age of an employee. There is a also capping on the contribution amount.

2) Community contribution Fund:
All employees working in Singapore must contribute a small part of their remuneration to Self-Help Group (SHG) funds or Donation Funds. These community funds are ECF, SINDA, CDAC
and MBMF. Employees race determines which community fund they would contribute to. The contribution rates are usually fixed and stay the same for years

3) SDL:
Under the Skills Development Levy (SDL) Act, employers are required to pay levy for every employee they hire. The employee category can be anything, a permanent, casual, part-timer, temporary or foreign worker rendering their services wholly or partly in Singapore.
Wage range is defined in system, contribution percentage is also defined.

4) FWL:
The Foreign Worker Levy (FWL), commonly known as "Levy", is a pricing mechanism to regulate the number of foreign workers in Singapore. As an employer, you do not have to pay Central Provident Fund (CPF) contributions for your foreign workers. Employer needs to define the FWL Qualification and FWL amount for every foreign employee hired.

5) IR8A:
Form IR8A in Singapore is a mandatory document that contains information on employees' earnings. IRAS assessment file needs to be generated for all employees every year.
Philippines
1) Withholding Tax:
It is a mandatory tax on the earnings of an employee’s salary that are subject to tax. Withholding taxes can be computed either on Monthly, Bimonthly or Weekly basis. Tax forms BIR 1604-C, BIR 1601 and BIR 2316 are used for tax submissions.

2) SSS:
It is a government-mandated insurance scheme to protect employees and their families against hazards of disability, sickness, maternity, old age, death and contingencies resulting in loss of income or financial burden. Employee and Employer contributions towards SSS happen as per the contribution table published by Philippine’s SSS.

3) Employees' Compensation:
ECP is a government program to provide benefits in the event of work-related incidents. For salary below P15,000 the employer contribution amount is fixed at P10 per month and above P15,000 it is at P30.

4) PhilHealth:
All employees are insured through PhilHealth and it is mandatory for employers to deduct part of each employee’s salary and correspondingly contribute the equivalent amount to PhilHealth. Premium rate is 4.0% with an income floor of P10,000.00 and income ceiling of P80,000.00.

5) HDMF:
Home Development Mutual Fund is a national savings program with the aim to provide affordable house financing for workers. Employees earning a gross monthly income of P15,00 and below, HDMF contributions are 1% of basic salary for employees 2% for the employers. For employees whose gross monthly salary is more that P1500, the employee and employer must pay 2%. Monthly contributions are capped at P100 each for the employee and employer.

6) Provident Fund:
Both employee and employer contribute towards PF. Employer contributions range between P42.50 and P425 per month, while employees contribute between P22.50 and P225 per month.

7) De minimis:
It is a benefit given to employees where the amount is exempt from tax computation.
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India
1) India Tax Module:
System facilitates employee wise IT Declaration. Employee can enter the section wise investment and previous employment details in Form 12B.
Once all the details are entered, system will auto compute the TDS per month during salary process. Employee will also get tax Projection report and Form 16 report from the system.

2) Professional Tax:
Professional Tax slabs in system are defined as per India statutory requirements and they are categorized based on gender: Male and Female. Professional Tax is calculated during the salary process. System can be enabled or disabled to define if Professional Tax is required to be computed or not.

3) Provident Fund:
Provident Fund in system is calculated as per India statutory requirements. All Provident Fund slabs are defined in system. Provident Fund is calculated during the salary process and is computed for both Employee and Employer.

4) ESIC:
ESIC is calculated in system as per India statutory requirements. ESIC calculation is based on Employment type. Percentage slab is also defined in system for both employee and employer.

5) Labour Welfare Fund:
Labour welfare fund is calculated as the applicability of organization. LWF slab and the month of deduction is also configured in system. LWF is calculated during the salary process.
Malaysia
1) Malaysia Tax Module
Employee wise tax declaration happens as per Malaysian statutory requirements. Tax slabs are defined and computed as per the salary range.

2) SOCSO:
SOCSO (Social Security Organization), also known as PERKESO (Pertubuhan Keselamatan Sosial).
SOCSO slabs are defined in system taking into account: the employee age and salary range. Salary range is defined for both employer and employee contribution.

3) EIS:
All employers in the private sector whose employees are covered under the Act are required to pay contributions on behalf of their employees. (Exempted for Federal and State Government Permanent employees, Domestic servant and Self-employed). EIS slabs are defined in system based on the age and salary range. Employee and Employer contribution is calculated by making references to these predefined slabs.

4) EPF:
Employees' Provident Fund EPF (Malay: KWSP) is a federal statutory body under the purview of the Ministry of Finance. It manages the compulsory savings plan and retirement planning for private sector workers in Malaysia.
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Nigeria
1) Nigeria Tax Module
Employee Wise Tax declaration in system is set as per Nigeria statutory requirements. Tax slabs are defined in system as per the salary range. Tax computation happens during the salary process.

2) NHF:
National Housing fund is a contribution. There is minimum wage mark after which an employee contributes 2.5% of their monthly income. NHF in system is computed during the salary process.

3) Pension Fund:
A Pension plan is a retirement account where employers and employees make monthly contributions. In Nigeria, employers contribute 10% of the salary and the employee contributes 8%. This is known as a defined contribution scheme.
Uganda
1) Uganda Tax Module:
Tax slabs in system are defined as per Uganda statutory requirements. Tax slabs are set according to salary range. Tax is computed during salary run.

2) NSSF Contribution:
The NSSF is a defined contribution scheme and is financed largely by contributions from Employers and Employees. The total contribution is equal to 15 percent of an employee's gross salary with employer contributing 10 percent and employee contributing 5 percent.
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Congo
1) Congo Tax Module:
Tax slabs in system are defined as per Congo statutory requirements. They are set as per the salary range. Tax is computed during salary process.

2) National Insurance Fund:
As per the statutory requirement four component of NIF is defined in system with their percentage. INSS Qpo component 5%, ONEM component 0.2%, INPP component 3% and
INSS Qpp component 13%. NIF is calculated during salary process.

Reports

  • Employee Listing Report
  • Attendance Swipe Details
  • Department wise Attendance
  • Employee Leave Application
  • Employee Leave Enrolment
  • Employee Leave Encashment
  • Payroll Summary
  • Year to Date employee salary Report
  • Year to date summary report
  • Employee Salary Register
  • CPF Report, IR8A, IR21 Reports
  • Form IR21, IR21 Eligibility
  • CPF FTP File Generation, EFT Salary Payment
  • Income Tax Report
  • PT,PF, ESIC Reports
  • Nigeria Tax Report
  • Uganda salary \ Tax Report
  • Congo salary \ Tax Report
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