seventh sense
TRANSCRIPT
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A brief Overview By:
M.D.Praveen
B.Dileep
B.Mohan
Sunkanna
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INTRODUCTIONTOCOMPENSATION
Remuneration Received by an Employee Organized practice that involves balancing thework-employee relation
Integral Part of Human Resource Management
TYPESOF COMPENSATION
Direct Compensation Indirect Compensation
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NEEDOF COMPENSATION
Employee Motivation Increased Productivity
Effective Organization Operations
Employee Retention Attract and Sustaining the BestTalent.
Enhancement of Job Evaluation Creation of Healthy Competition
Business Growth and Expansion Possibilities
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COMPENSATION COMPONENT
Job Analysis, Pay Structures & Salary Surveys
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DIRECT COMPENSATION Direct compensation refers to monetary benefits offered
and provided to employees in return of the services they
provide to the organization. They are given at a regular interval at a definite time.
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INDIRECT COMPENSATION
Indirect compensation refers to non-monetary benefits
offered and provided to employees in lieu of the servicesprovided by them to the organization.
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WHATIS PAYROLL?
Payroll is the total amount of money paid by anOrganization (Business) to its employees over a setamount of time.
Payrollis the sum of all financial records of salaries,
wages, bonuses and deductions. The administration of employees' salaries, wages,
bonuses, net pay, and deductions.
Payroll is administered on the monthly basis and annualbasis.
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PAYROLL CONSTITUENTS
Employee ID, Employee Name (Employee Details)
Date of joining, Daily Attendance record (AttendanceDetails)
Basic salary, Allowances, Overtime pay, Bonus,
Commissions, Incentives, Pay for holidays, Vacations andSickness, Value of meals and Lodging etc.
There are some deductions such as PF, Taxes, Loaninstallments or Advances taken by employee.
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PAYROLL MANAGEMENT PROCESS
Payroll Management provides quality payroll processingand personnel services at competitive and affordablerates.
Payroll Processing Methods:
Manual System
Accountant
Payroll Software
Payroll Outsourcing
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PAYROLL MANAGEMENT SYSTEM
o Payroll Management generally includes activities in twomajor areas: Payroll Accounting and Payroll
Administration.
o Payroll Accounting consists of: 1) Calculating theearnings of employees and the related withholding for
taxes and other deductions, 2) Recording the results ofpayroll activities, and 3) Preparing required tax returns.
Payroll Administration deals with the managerial aspectsof maintaining a payroll, many of which are distinct fromthe accounting aspect of payroll. Payroll administration
includes: 1) Managing employee personnel and payrollinformation, 2)Compliance with State and localemployment laws (Form-16)
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MAJOR MODULESOF PAYROLL SYSTEM
Employee Personal Information System
Leave & Time Management System
Payroll Processing System
Salary
Accounts Management System HRMS (Human Resources Administration)
Income Tax Management (TDS)
MIS Reporting (Management Information Reports)
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PIS will allow capturing following details:
1) Personal Profile ( incl. Family Information)
2) Bank Details
3) Education Details
4) Skills Set Details
5) Official Profile
AMS will allow following details:
1) Leave Categorizations
2) Periodic Details
3) Reason Details
4) Approval Details
The Details are associated and linked with the relevantmodules and thus salary is generated in accordancewith the attendance.
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Payroll and S-AMS will allow following details:
1) Salary Head Details (Type and Percentage)
2)
Salary Formulations3) Professional Tax Slabs
4) Salary Structures (may vary)
5) Pay Slip Information
HRMS will allow following details:
1) Bonus, Perks Details
2) Final Settlement
3) Leave Status and Updating
4) Allowance Applications
5) Confirmation and Notification Details
6) Information Relay
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Income Tax (TDS) will allow following details:
1) Forms and Challans Info
2) Financial Year Investment Details
3) Tax Calculation
MIS will provide following details:
1) Payroll Sheet Generation
2) Pay Slip Generation
3) Monthly Overtime Reports
4) Employee Registration Details
5) Flexible Reporting
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PROPOSED TECHNICAL ARCHITECTURE
Three Tiered Architecture1) Presentation Layer
2) Application Logic (Business Logic)
3) Database Components
Desktop Clients
Middle Tier
Server
Data &
Resources
Presentation
Application Logic
Data Layer
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SOFTWARE PACKAGES TOBE USED
ASP.NET Framework (C#) - Server Side Scripting
HTML and Javascript Client Side Intelligence,Validations, Events Driven Logic
SQL Server Business Logic, Advanced Queuing, DataProfiling, Server Managed Backup and Recovery,
Triggers, Stored Procedures, Common Table Executions,CLR Integration, Users/Roles Management and
Authentication
RAD Tools Ajax Implementations, Enhanced GUI
VSS (Visual Source-Safe) Maintaining Check-Out and
Check In operations, Parallel Code Manipulations Crystal Reports Generic Reports Representation,
Framework Integration
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FLOW DIAGRAM
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CERTAIN COURS
Hopefully you get what you pay for, because you always payfor what you get
Definition of a competitive salary: We remain competitive bypaying less than our competitors
Thank U!