Payslip is a very important document not only for the employee, but for the organization also, a professionally branded payslip, always has a positive impression on the employees and others who actually look at the payslips, like your bankers and other institutions. Payslip is a document which says a lot of things, about an organization without actually saying it.
Payslips also have to be compliant with local laws and have accurate information, as they have to be submitted for claiming tax credits, in various countries around the world.
Lot of organizations, have payroll systems today, which do all the calculation accurately enough, but they cant seem to generate a simple and a compliant payslip which can be either be emailed individually to the employee or simply printed on a printer.
There is no shortage of Cloud Based HR and Payroll Management Solutions, however there are some key pointers, we need to ensure that a system should be capable of when it comes to generating payslips.
- You should be able to brand your paylsip with correct company logo, other branding guidelines easily.
- It should clearly have all the pay elements i.e. salary, allowances, deductions, loans, loan balances, leave balance, reasons for deductions, i.e. unpaid leaves.
- It should clearly specify all the pay elements’ gross to net amounts, i.e. applicable salary against received salary. So employees can spot the differences if any easily and refer to remarks.
- It should clearly specify the pay period, i.e. monthly, weekly, bi weekly.
- Different groups of employees have different compliance requirements, i.e. temporary staff may be having a different format and permanent employees a different format, ensure system is capable of accommodating multiple formats, easily.
- The same formats should be consistent and available across all channels, e.g. the same formats should be available on employee self service or mobile apps and if sent through email.
- Ensure you have a feature to send the payslip individually through email as a password protected document.
At HR Chronicle we have taken every effort to address the above and many more scenarios, payslip is that single document, which is visible by all in the organization and can have a positive impression if done right.
Give us a shout, if you want to know more or simply have something more to add.