Top 5 Payroll Software in India (2023)
A computer program called payroll software is made to assist organizations in managing their payroll procedures more effectively. These software programs automate payroll tasks including calculating employee wages, deducting taxes, creating paychecks, and keeping track of employee benefits and other deductions.
Payroll software automates repetitive payroll operations, saving firms time and minimizing mistakes. Additionally, many payroll software programs have reporting capabilities that let firms create reports on payroll costs, employee attendance, and other crucial payroll statistics. It is simpler to handle all aspects of payroll in one location with some payroll software systems that also link with other HR and accounting applications.
Overall, payroll software is a useful tool for companies of all sizes wishing to automate their payroll procedures and make sure their employees are paid accurately and on time.
Here in this article, we will go through the top 5 payroll software in India with its pros and cons.
1. QuickBooks Payroll:- Popular payroll software like QuickBooks Payroll provides a number of features to assist small and medium-sized organizations in managing their payroll procedures. The followings are some benefits and drawbacks of utilizing QuickBooks Payroll:
- Simple to use:- QuickBooks Payroll is intuitive and simple to use, making it a great option for small business owners with no prior payroll expertise.
- Automated calculations:- QuickBooks Payroll makes the payroll tax computation more accurate while also saving the user’s time.
- Direct deposit:- QuickBooks Payroll provides the option for direct deposit, which enables workers to get their paychecks straight into their bank accounts and save time and money on paper checks.
- Integration with QuickBooks:- If you currently use QuickBooks to handle your accounting requirements, integrating QuickBooks Payroll will help you save time and improve the efficiency of your company’s operations.
- Cost:- For small firms on a tight budget, QuickBooks Payroll can be pricey. The more features you require, the higher your cost will be. There are many pricing tiers.
- Customer service:- Some customers have complained about excessive wait times and having trouble getting their inquiries answered.
- Limited customizability:- Businesses with complicated payroll requirements may encounter difficulties due to QuickBooks Payroll’s limited customizability choices.
- Dependency on technology:- Since QuickBooks Payroll is cloud-based, an internet connection is required in order to access it. You might not be able to view your payroll data if your internet connection drops.
The website for Quickbooks payroll is https://quickbooks.intuit.com/in/payroll/
2. Zoho Payroll:- A cloud-based payroll processing tool called Zoho Payroll provides a number of functions for companies of various sizes. The pros and drawbacks of using Zoho Payroll are as follows:
- Easy to use:- Zoho Payroll is a user-friendly, simple-to-navigate interface that makes managing your payroll straightforward.
- Comprehensive features:- Zoho Payroll provides a number of services, such as tax filing and calculation, pay stub generation, time-off management, and more.
- Customizable:- The program is adaptable, enabling you to build up payment schedules, tax rates, and deductions to suit the particular demands of your company.
- Integration:- For a smooth experience, Zoho Payroll connects with other Zoho products like Zoho Books and Zoho People.
- Limited help:- Some customers have mentioned that there aren’t many choices for support, which can be annoying if you run into problems.
- Limited payroll frequency:- Only monthly and biweekly pay periods are supported by Zoho Payroll at the moment, which may not be suitable for companies with various pay schedules.
- Limited integrations:- Although Zoho Payroll connects well with other Zoho applications, your company’s other software may not be as well integrated as Zoho Payroll.
- The mobile app is limited:- Zoho Payroll includes a mobile app, although some customers have complained that it is less feature-rich than the desktop version.
The website for Zoho Payroll is https://www.zoho.com/payroll/
3. GreytHR:- GreytHR is a cloud-based HR and payroll administration tool that provides firms with a number of advantages. The followings are some benefits and drawbacks of utilizing GreytHR for payroll administration:
- Processing of payroll automatically:- GreytHR automates payroll, which helps to reduce mistakes and saves time.
- Tax compliance:- GreytHR determines tax deductions and produces tax reports to make sure firms adhere to tax laws.
- Employee self-service:- GreytHR provides a platform for self-service that enables staff to examine paystubs, leave balances, and other employment-related data.
- Customizable reports:- GreytHR provides customizable reports, making it simple for organizations to create the reports they want.
- Mobile app:- GreytHR is a mobile app that enables companies to manage their payroll while on the road.
- Learning curve:- GreytHR has a steep learning curve, especially for companies using payroll administration software for the first time.
- Cost:- GreytHR may be out of small organizations’ price range, especially those with tight budgets.
- Customer service:- According to some customers, GreytHR’s customer service can occasionally be sluggish and unhelpful.
- Limited integrations:- GreytHR offers a small number of software and system integrations, which might make using it with other corporate applications challenging.
- Security concerns:- As with any cloud-based program, there may be security issues with regard to the confidentiality of private payroll information. To secure user data, GreytHR has put in place a number of security measures.
The website for GretHR is https://www.greythr.com/payroll-software/
4. HRMantra:- The cloud-based human resource management system HRMantra offers a number of modules, including those for payroll, attendance, performance reviews, recruiting, etc. HRMantra payroll has the following benefits and drawbacks:
- User-friendly design:– HRMantra payroll features a straightforward and intuitive design that makes it simple to use for anybody, even those without prior HR software knowledge.
- Payroll setup that is easily customizable:- HRMantra payroll may be simply tailored to match a company’s unique needs, including tax computations, pay structures, and employee perks.
- Automated payroll processing:- Payroll processing that is automated thanks to HRMantra payroll decreases the possibility of mistakes and saves time.
- Regulation adherence:- HRMantra payroll makes sure that numerous tax laws, labor legislation, and other compliance-related obligations are followed.
- Integration with other modules:- To simplify the complete HR process, HRMantra payroll may be coupled with other modules like attendance and leave management.
- Limited reporting options:- HRMantra payroll only offers a small number of reporting options, which may not be enough for some organizations
- Limited customization options:- Although HRMantra payroll can be customized to some extent, there may be restrictions on the degree of customization that may be performed.
- Limited customer support:- According to some customers, HRMantra’s customer help isn’t always as responsive as they’d want.
- Limited mobile app functionality:- Limited mobile app capability may be a drawback for certain customers who need to use the system while on the move. HRMantra’s mobile app offers less functionality than its web-based application.
The website for HRMantra is:- https://www.hrmantra.com/payroll-software-india/
5. ADP Workforce Now:- ADP Workforce Now is a small- to medium-sized business-specific cloud-based payroll and HR administration system. The benefits and drawbacks of adopting ADP Workforce Now for payroll are as follows:
- Payroll Processing:- ADP Workforce With its automated payroll system, it now makes payroll management simpler. This eliminates the need for you to manually calculate taxes and other deductions.
- Observation:- ADP Workforce now maintains track of compliance-related concerns including payroll taxes. Additionally, it assists companies in maintaining compliance with state and federal standards, protecting them from fines for non-compliance.
- Self-service portal:- Employees have access to a self-service site through ADP Workforce Now where they may view their pay stubs, W-2 forms, and other payroll-related data.
- Scalability:- ADP Workforce Now is built to expand along with your company. It can readily adapt to changes in your company’s staff, payroll requirements, and business growth.
- Cost:- ADP Workforce Cost Especially for small organizations with less number of staff, now might be pricey. There can be extra charges for some features and services.
- Complexity:- For people who are unfamiliar with payroll processing, the ADP Workforce Now system might be challenging to use and understand.
- Customer service:- Some users have complained about difficulties contacting ADP Workforce Now’s customer care or obtaining quick assistance with technical problems.
- Limited customization:- ADP Workforce’s customization is limited. Particularly when it comes to unique payroll demands and reporting requirements, Now may not offer as much customization as some firms would want.
The website for ADP Workforce Now is https://www.adp.com/what-we-offer/products/adp-workforce-now/payroll.aspx
Finally, payroll software has emerged as a crucial resource for companies of all sizes. Numerous elements of these software programs assist automate payroll procedures, saving organizations time and lowering the possibility of mistakes. Businesses can simply handle employee benefits and other deductions, calculate employee salaries, withhold taxes, produce paychecks, and more using payroll software.
Payroll software has a wide range of advantages overall. Businesses may save time and money while assuring correct, on-time payments to their employees by simplifying payroll operations and lowering mistakes. Payroll software has thus evolved into a crucial tool for contemporary organizations trying to handle their payroll more efficiently.