Whether you are a new business owner or someone who has been donning the hat since quite some time, payroll is definitely one of the primary areas of concern for you. It not only involves the salary disbursement of people who work with you but also involves withholding taxes for ITR while doing everything as per the policies and rules of state and central government so as to not get penalised.

While many resort to outsourcing it thinking that it is secure and help them save time, it is not the best option to opt for. The best one continues to be cashless payroll processing using payroll management software. The benefit of using the software in house to process payroll are many. It has in fact as the best solution to the same this whole year due to the pandemic and remote working.

Below we remind you of a few of the benefits of choosing a payroll software in India that comes with the ESS option, keep reading!

• More efficiency: Cashless payroll processing eliminates the need of manual processing altogether which leads to cost reduction, and saving of time and money as well. Through the system the tasks can be automated and the employees would not need to wait for their salary. When it is done involving a cash system it takes longer as everyone has to go to the HR to collect their salary and payslip.
  
• Better accountability: The traditional payroll systems have very high chances of making errors in calculation. But when you choose an on cloud payroll software India, this doesn’t happen. The software mostly comes with ESS so that employees can enjoy transparency and check the data and information related to them on the portal including payslip for every month. When everything is tracked online, if there is any discrepancy, things can be tracked down. However, in the cash system, in case you have not given the salary or it has been stolen, it would become really hard to trace what exactly happened.
  
• Security: Cash systems will always keep you worried of theft that may happen or the money can be misplaced. But, when you decide to go cashless, you don’t just end up fastening the process but also relieve yourself from the stress. Halding cash and keeping all of it safely in office, no matter how well you do it,keeps one part of your mind stressed with this. The process is basically way more secure as every data is one cloud on a safe and trusted server, so you don’t really need to worry about the data too. No fraudulent activities can be done when you use it!

Saves time & eradicates cash handling cost: In many companies one additional person is especially hired to take care of different currency transactions so that there is no mishandling of cash. By going cashless and choosing a trusted payroll software India, you end up saving the cost of hiring this one person and save time as more than half of the things are automated. This time and cost saved can be used in finding more customers and nurturing the current ones. Basically, the company can work on expansion plans in a much better way.

• Easier to use for employees: When your employees are working from home and being physically distant is the norm, it is all the more relevant to have everything digital. The payroll processing on cloud can be done from anywhere in the world. This, when the bank details added are correct can be used to transfer the amount safely to the employees, again no matter from where they are working, they will receive their salary in their bank accounts and would be able to use it online or offline after withdrawing from their nearest ATM.
  
• On time payroll process: Cashless payroll systems reduce the time you take to process payroll. When you do it manually, checking and rechecking everything done is a ritual as the human eye can make errors, you can end up overlooking a thing or two. However, when you will start processing it with the help of a software, you will realise how timely the things would happen, you can trust the software with the calculations, it fetches the attendance data from the attendance module and so you do not need to worry about the wrong data entry because you have not entered it manually.
• Besides, it is just a matter of a few taps, you also get a report prepared by the payroll system to show you the discrepancies it found in the previous month and current month payroll. The process is reliable, fast and quick. Ultimately, this will help in keeping those happy who keep your company happy and wealthy that are your employees. So, go for cashless payroll processing, always!