Protect your business from non-compliance penalties
A very big organization contacted us recently as they saw and researched about our robust HR system. They were so excited about our system all through our demo presentations with them. From our conversations with them, we found out that they were already using one of the top HR systems providers in the country. But seriously, for critical reasons they wanted more and found comfort with the PayDayNG.
During the project requirement gathering stage, we demanded to see their current salary processing format. We were given and we uploaded their data and inputted their current salary formulas for a system dry run.
To our amazement, from reports generated from our system we got figures totally different from what we were given.
From the report generated, we discovered that our system computation for ‘PAYEE’ came up to N39,810.50k while theirs was N36,501.68k.
We started our probe to determine which of the systems generated the wrong reports. After cross checking thoroughly, we discovered that this top shot company have been shortchanging its employees for so many years unknowingly to them and also overpaying them on some salary heads.
This is what is obtainable when a system is not made to auto reverse errors that were unintentionally inputted into them. This error-filled process can also come to play by the use of the traditional manual method that also wastes time and effort.
Statutory compliance, in HR- is the legal framework within which a company or organization must operate, in the treatment of their employees. It becomes the responsibility of the organization to fulfil the statutory requirements as well as it is important for them to stay up-to-date with employment laws.
This ultimately becomes the burden of the HR manager; requiring them to put a significant amount of time and effort in fulfilling these statutory compliances, else incur a costly fine. We’ve come a long way, where almost everything is automated.
In an automated and more efficient method, all you need is a payroll software and a computer. Once all your employee details have been captured through the employee information page in the system, the calculation and allocation process is automated, with just the click of a button.
For the employer, it’s absolute peace of mind with structured accurate reports and reconciliation tools which offer instant access to crucial data. Every deduction from pension, taxes, GLI, NSITF, NHF and Salary advance etc are all handled by the software.
Think of the implications this could have had on the company above assuming an employee got hold of this case of short changing and used it against them. The outcome would have been disastrous, to say the least.
To guarantee total compliance, a stress-free workforce and an ultimately productive environment, an effective system – PayDayNG Payroll solution that is robust, very detailed and makes computations easy & accurate is all an organization needs.
For more information on how we can automate and accurately compute your deductions using PayDayNG Payroll Solution, connect with our support centre on 01-4542116 or 08173943723.