Top 10 Payroll Software in India

The best payroll software in India can help businesses in error-free automated payroll processing, minimal post payroll queries, and always remain statutory compliant and easy-to-implement.?

• What is payroll software?
• Why is a payroll management system important?
• 10 best payroll software in India
• HROne
• SumHR
• FactoHR
• PocketHRMS
• Zimyo
• Razorpay
• PeopleStrong
• Darwinbox
• GreytHR
• Keka
• What are the key features to look for in a payroll software for Indian businesses?

What is Payroll Software??

The payroll software is the automated system for payroll management like assigning CTC for new joiners, setting up recurring payroll cycles, sending payroll slips right in your employee’s inbox, identifying errors with dashboards, complying with statutory regulations, planning for yearly budgets and much more.??

In short, payroll software is meant to reduce the manual efforts of payroll departments, save costs and time for HR professionals, and enhance employees’ experience.?

Why is a Payroll Management System Important??

Payroll management system has become the backbone of Indian businesses as it ensures-?

• Error-free salary calculation?
• Statutory compliance with regulations?
• Efficiency in time, cost and efforts?
• Better record keeping and reporting?
• Minimal post payroll discrepancies?
• Scope of employee self-service like tax slips in hand?
• Easy integration with other systems?
• Data-driven strategic decision-making process?

10 Best Payroll Software in India?

If you want to implement a payroll management system in your organisation, you can understand their features and then decide.?

Here is the list:?

HROne??

HROne ranks #1 in the recently published G2 Spring Report 2023 – rubbing shoulders with the likes of Workday, UKG, ADP, and many others. They were also ranked #3 in the “Easiest-to-use HRMS” category globally beating several bigshots.?

HROne’s payroll software help HR professionals to-?

• Simplify salary structure creation and assignment of pay groups at different levels?
• Auto-calculate employees’ salaries and effortlessly disburse them?
• Conveniently auto-schedule payroll ensuring timely payroll processing?
• Quickly verify payroll’s error and automatically resolve them with the help of elaborated salary variance reports?
• Reliably compliant with statutory standards by updating system as per latest payroll guidelines?
• Empower employees and unload payroll admin with employee self-service portal?
• Discover CTC trends, actual liabilities and more with 40+ comprehensive tabular reports?

You can master payroll with HROne’s highly accessible system and enhance employees’ experience.

SumHR?

SumHR makes payroll stress-free with their robust and reliable processing engine. It not only automates the calculations but also simplifies the complications. Main features are-?

• Free up HR professionals from bulk of excel sheets and complex formulas?
• Software is simple to understand and easy to use?

• Payroll management is simple and less cumbersome?
• Data safety and privacy is completely ensured?
• Free up HR professionals from sending multiple mails

FactoHR?

factoHR payroll software makes the entire payroll process streamlined & easy with its wizard-driven approach and single source of data. Significant features are-?

• Minimal human intervention and the highest level of accuracy in payroll management?
• Formula based calculation, process customization and unlimited component creation?
• Buttery smooth user experience with all internal modules and external system?
• Freedom to create unlimited earning or deduction components and flexibility to configure???
• 200+ pre-built payroll reports to empower payroll teams to take data-backed proactive actions

PocketHRMS?

PocketHRMS is quick, accurate and error-free processing fulfilling advanced payroll requirements and statutory compliance. Major features are-?

• Payroll flexibility with multi-category and single-employee payroll processing?
• Generate regulatory forms such as ECR, Form 16, etc., with enhanced options for IT returns?
• Change salary heads with custom formulae without depending on the developer?
• Smooth exit with automated gratuity calculations, leave encashment and asset recovery?
• Reduces need for repetitive data inputs, ensures employee salary and payroll processing???

Zimyo?

Zimyo payroll software ensures swift and error-free payroll processing in minutes. Some of the significant features are-?

• Reduce payroll tax penalties by helping in remain statutory compliant?
• Disburse salaries in minutes by syncing the attendance database?
• Ensure great employee experience by empowering them with ESS?
• Excellent customer support to assist and provide level of support?
• Modern payroll software for the new age workforce- WFH, Contractual, etc.

Razorpay?

Razorpay claims to be India’s only enterprise payroll software with automated compliance. Significant features of Razorpay payroll software are-?

• Automated compliance processes for complex payroll needs?
• Unified and seamless integrations for streamline payroll management?
• Enterprise grade & on-demand customisation of payroll structures?
• 100% automated tax filing for statutory processes?
• Custom creates reports using your employee data for data-driven people strategy

PeopleStrong?

PeopleStrong payroll software is accurate, compliant, and possesses automated workflows — from punch to payroll for a happier workforce. Significant features are:?

• 100% secure and compliant payroll software?
• Generate pay slips and insights automatically?
• Supported by certified and experienced payroll professionals?
• Enterprise-grade security, ISO, and SOC assessed for data security

Darwinbox?

Darwinbox simplifies enterprise payroll complexities with a powerfully secure, accurate, automated and 100% compliant payroll system. Significant features are:?

• Seamlessly integrated for real time data sync and no errors in payroll?
• Highly accurate with exhaustive system of validations?
• Clear audit trails, granular permissions and central locking system?
• Tailor made payroll solutions for business entities?
• Easy to configure for complex organisational requirements

GreytHR?

greytHR payroll software ensures faster process and accurate payouts. They ensure minimum computation errors, on-time disbursement of salaries and stress-free month ends for HR professionals.?

Their best features include-?

• Highly customisable salary structures?
• Comprehensive PF, TDS, bonus and other calculations?
• Digitally signed Form 16 and 12BA generation?
• Status tracker for salary disbursals?
• Ready-made MIS and compliance reports?

Keka?

Keka payroll software ensures finance teams can make salary and payroll changes throughout the month and don’t pile up their work till month end!?

Features that help Keka to stand out-?

• Easily configurable rules-based salary components?
• Simplified salary revision which does not require professional payroll knowledge?
• Intuitive interface for reviewing payroll before finalizing and releasing payroll?
• Release payslips on SMS, email or mobile app or bulk print?
• Payroll analytics track payroll data, employees, and associated payroll management?

What are the Key Features to look for in Payroll Software for Indian Businesses??

You might be confused after getting through the features of multiple HR software

However, Indian businesses look into the following key features before implementation:?

• Ease of statutory compliances?
• Automated methods of payroll calculation?
• Integration with leave and attendance management system?
• Flexibility to customise salary structures?
• Reporting capabilities for insightful decisions?
• Audit trail for easier review process?
• Mobile accessibility for employee self-service?
• Dedicated customer support?