What is Payroll?
Payroll is the process by which a business determines and disburses its employee’s wages or salaries. It includes figuring out gross pay, deducting taxes and other withholdings, and paying employees net pay. Monitoring working hours, overtime, bonuses, and other compensation-related variables is another aspect of the payroll process.
Employers and employees both depend on the payroll process to make sure that workers are paid correctly and by the law. It is also very important for business financial reporting and tax compliance. To automate and optimize the payroll process, many businesses employ specialized payroll software. This lowers the possibility of errors and ensures efficiency.
Table of Content
10 Best Payroll Software in India
1. Zoho Payroll
A cloud-based software for small and medium-sized Indian enterprises is called Zoho Payroll. It provides functions including employee self-service, compliance management, and automated payroll processing. Zoho Payroll is renowned for its inexpensive pricing and easy-to-use interface.
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Founders |
Sridhar Vembu, Tony Thomas |
|---|---|
|
Founded |
1996 |
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CEO |
Sridhar Vembu |
Features of Zoho Payroll
- Automated Payroll Processing: Zoho Payroll automates all aspects of payroll processing, including tax calculations, deductions, and salary computations.
- Compliance Management: It lowers the chance of mistakes by assisting companies in keeping to regional labor and tax laws.
- Employee Self-Service: Zoho Payroll has self-service tools that let staff members view their pay stubs, tax returns, and other important information.
2. QuickBooks
It is designed specifically for the Indian market and is a popular accounting software. It supports compliance and automates tax computations and payroll procedures. Having QuickBooks accounting integrated, makes managing finances easier overall.
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Founders |
Scott Cook, Tom Proulx |
|---|---|
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Founded |
1983 |
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CEO |
Sasan Goodarzi |
Features of QuickBooks
- Payroll Services: QuickBooks offers payroll services that include elements like compliance management, tax deductions, and compensation computations.
- Integration: For unified financial management, a smooth integration with QuickBooks accounting software.
- Customized Reports: For information on payroll costs and compliance, users can create customized reports.
3. GreytHR
It is a popular cloud-based payroll and HR software solution in India that provides features like compliance management and attendance tracking. In India, greytHR is a well-liked payroll and HR software. It offers functions including tracking attendance, processing payroll, and adhering to legal requirements. GreytHR is renowned for its precision in managing complex payroll computations and its capacity to meet the particular demands of labor legislation in India.
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Founders |
Girish Rowjee, Sayeed Anjum, and Saju Pillai |
|---|---|
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Founded |
1994 |
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CEO |
Sayeed Anjum |
Features of GreytHR
- Attendance Tracking: GreytHR offers tools for handling leave requests, keeping track of staff attendance, and keeping correct attendance records.
- Tools for Compliance: It provides resources to guarantee compliance with regional tax and labor legislation.
- Employee Self-Service: Workers can see paychecks and request leaves of absence using self-service portals.
4. Saral PayPack
Saral PayPack is a full-featured payroll solution created especially for Indian companies. Tax computations, statutory compliance, and payroll processing are all covered. As it offers customization choices, it is appropriate for businesses of all sizes and sectors.
|
Founders |
Nagendra H.S. |
|---|---|
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Founded |
2002 |
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CEO |
Nagendra H.S. |
Features of Saral PayPack
- Flexibility: Saral PayPack is renowned for its adaptability, enabling companies to tailor payroll procedures to their particular needs.
- Pay Processing: It facilitates full pay processing, which includes base pay, deductions, and allowances.
- Statutory Compliance: Saral PayPack assists in fulfilling legal obligations, including those related to tax returns and PF contributions.
5. Keka
Keka is a payroll and HR software designed with Indian businesses in mind. It has functions including managing attendance, processing payroll, and providing employee self-service. It is renowned for its powerful functionality and modern UI.
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Founders |
Vijay Bhaskar Reddy, Sudheer Koneru |
|---|---|
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Founded |
2015 |
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CEO |
Sudheer Koneru |
Features of Keka
- Integration of HR and Payroll: Keka offers integrated HR and payroll solutions that include payroll processing along with HR duties.
- Attendance Management: Features for monitoring staff attendance and controlling working hours are included in attendance management.
- Employee Onboarding: Keka comes with resources to help with effective onboarding procedures.
6. Pocket HRMS
Human Resource Management Systems, or Pocket HRMSs, offer payroll and HR services along with features like leave administration and spending monitoring. It provides functions like compliance tracking, leave management, and payroll processing. It is made to be adaptable to different business sizes and sectors.
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Founders |
Jitendra Somani, Kumar Siddhartha, and Sandeep D |
|---|---|
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Founded |
2013 |
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CEO |
Jitendra Somani |
Features of Pocket HRMS
- Leave Management: Pocket HRMS provides tools, including leave requests, approvals, and tracking, for effective leave management.
- Expense Monitoring: The software comes with features to monitor employee personal expenses and reimbursements.
- Employee Self-Service: Workers can view pay details and update personal information using self-service capabilities.
7. SumoPayroll
With its complete payroll and HR administration system, SumoPayroll seeks to simplify many facets of personnel management for Indian enterprises. It is intended to make payroll processing easier, adhere to legal requirements, and offer resources for efficient human resource management. It is an intuitive cloud-based payroll software that offers features like cost monitoring and compliance management to businesses of all sizes.
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Founders |
Anish Prakash, Sudeep Suryawanshi |
|---|---|
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Founded |
2015 |
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CEO |
Anish Prakash |
Features of SumoPayroll
- Cloud-Based Payroll: SumoPayroll is a cloud-based solution that makes payroll data easily accessible from any location.
- Compliance Management: It helps to guarantee adherence to legal requirements and tax laws.
- Employee Self-Service: Workers can manage their personal information and obtain pay information via self-service portals.
8. Marg Payroll
Designed for companies seeking an integrated payroll and accounting solution, Marg Payroll is a component of the Marg ERP software suite. The Marg ERP 9+ suite, which includes Marg Payroll, unifies Enterprise Resource Planning (ERP) and payroll functions. It is expressly designed to satisfy the unique payroll requirements of companies, particularly those operating in India.
|
Founders |
Thakur Anup Singh |
|---|---|
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Founded |
1992 |
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CEO |
Thakur Anup Singh |
Features of Marg Payroll
- Accounting: Payroll and accounting are handled in an integrated manner by Marg Payroll, which is a component of the Marg ERP System.
- Attendance Management: Biometric device integration and attendance tracking features.
- Customized Reports: For further information on payroll and attendance statistics, users can create customized reports.
9. Spine Payroll
This payroll processing software is renowned for its easy-to-use interface and extensive capabilities, which include the administration of statutory compliance. For Indian businesses, it is a complete payroll and HR software solution. Processing payroll, monitoring attendance, and managing compliance are all covered. Spine Payroll has a reputation for being adaptable to different industrial requirements.
|
Founders |
Nitin Hukare |
|---|---|
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Founded |
2014 |
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CEO |
Nitin Hukare |
Features of Spine Payroll
- User-Friendly Interface: For convenience of use, Spine Payroll has been built with a user-friendly interface.
- Payroll Automation: The goal of this approach is to minimize human error and labor by automating payroll procedures.
- Employee Self-Service: Workers can view pay stubs and update personal information by using self-service capabilities.
10. HRMantra
A comprehensive Human Resource Management System (HRMS) that handles payroll and other HR-related topics is called HRMantra. Its purpose is to simplify HR procedures, ranging from hiring to managing performance, and it has strong payroll features.
|
Founders |
Pankaj Bhargav |
|---|---|
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Founded |
1992 |
|
CEO |
Pankaj Bhargav |
Features of HRMantra
- Payroll Processing: HRMantra provides all-inclusive payroll processing, encompassing compliance management, deductions, and compensation computations.
- Leave Management: Features for tracking and managing leaves are included in leave management.
- Employee Engagement: Performance monitoring and employee engagement features are included in the software.
Conclusion
Depending on the particular requirements and scale of your company, choosing the best payroll software in India calls for giving serious thought to several aspects. Take into account aspects like user-friendliness, scalability, compliance with Indian labor laws, and integration capabilities while making a choice. It’s critical to keep up with the most recent features, user opinions, and support choices offered by software providers. Before making a choice, organizations should evaluate their unique requirements, their financial situation, and the software’s scalability. To find the software that best suits the needs of the company, it is advisable to ask for demos, trial versions, or consultations with the providers.