INFOMAN-PAYROLL Product Enquiry Key Areas covered by INFOMAN-PAYROLL include - Personnel Information Maintenance Pay Heads Setup Leave Accounting Loans and Disbursements Salary Processing and Arrear Computation Income Tax Computation   1 Personnel Information Maintenance Personal information - Employee Name, Code, Address, Telephone No, Date Of Birth, Dependant details, Blood group etc. Official Information - Date of joining, Contract ending date, Personal file number, PF Number, ESI Number, Mode of salary Payment, Details of Bank Account (in case of direct transfer of salary to the employee's account) and Date of resignation. Miscellaneous Information - Designation, Department, Category, Grade, Current location of posting, References details etc.   2 Pay Heads Setup Pay Heads setup in Infoman-Pay is completely user-definable. This means that you can define pay heads as per the unique requirements of your company. Unlike other payroll applications, there are no fixed pay heads. Based on your organization policies, you can build as many pay heads in the system as required. Every Pay Head can be made applicable for a specific location or for all location. This will ease replication of setup for multiple locations and salary computation in case of employee transfers. For all pay head rates, decision date and effective date are maintained. The effective from date helps in the computation of Arrears. You can derive your own formulas for computation if required. You can define an unlimited number of grades and employee designations to compute salaries.   3 Leave Accounting Define leave types as applicable in your organization. (Example: CL, EL, PL) Select day treatment for each type of leave (Full day / half day). Define whether a particular leave is paid or unpaid. Allotment of entitled leave for every employee for each year Provision of carry forwarding balance leaves to the next year (wherever applicable) Leave entitlement will assist you in putting a check on unauthorized leaves The current leave status (Balance leaves and availed leaves) can be printed on the pay slip This module helps in planning of leaves and saves time for the personnel department   4 Loans and Disbursements Provision for definition of unlimited types of loans and reimbursements as required by your company You can implement loan policy and customize the repayment system through pay heads Provision to skip deduction of monthly installments if required Automatic stopping of monthly installments deduction when pending balance is zero   5 Salary Processing and Arrear Computation Salary processing is the main objective of any Payroll Processing system. Infoman-Pay allows you to process salaries of different categories of employees for different periods Salary is computed on the basis of user-defined formulae of pay heads Facility to process salary for selective / all employees at any given time Standard salary structure is displayed on the processing screen for reference Process of arrear computation is simplified by defining the revised rate and revised date for a pay head. System computes salaries as per new rates based on the effective from date. It subtracts the amount paid to employees and returns the balance amount as arrear for each pay head Salary processing is integrated with the Leave accounting and Loan accounting modules. It picks information from these modules without needing any extra input from users Pending loan balances are automatically updated once the salary is processed   6 Income Tax Computation Computation of income tax is the most complex and ever changing operational area of Salary Processing. In most organizations, this responsibility is handed over to experts like Chartered Accountants, who charge heavily for their services. Income Tax is computed based on rules defined by the government for various sections mentioned in Form-16 and the Estimation Slip. These rules are revised from time to time as per the government's policy. Infoman-Pay has a separate, optional Income Tax module. Features for this module are as follows - Income tax module fetches information on earning and deduction heads from the salary module It has options to define formulae for the computation of various heads mentioned in sections of the Estimation Slip and Form-16 Provision to define investments made by employees for saving their income tax Define unlimited heads (user-defined) to include any information required for income tax calculation (example- pan number, date of birth, information on dependants, number of children etc) User can define the income tax table as per current requirements. This table defines applicable taxes as per the total annual income of employees Income tax rules are revised almost annually. This system allows you to define formulae for computation of different sections of the Estimation Slip and Form - 16 This module generates statutory reports like Form - 16, Form- 24, Estimation Slip etc