Saral PayPack - News Letter - September 2008

Operation Green:

Saral PayPack can generate 250+ Reports for various requirements. We strongly recommend that hard copy printout should be avoided as far as possible although we have developed so many reports to help you for verification / records / approval / decision taking. Almost all the reports are available in Excel / PDF format and hence we suggest, avoid printing reports from Saral PayPack which in turn helps the eco system avoiding trees to be cut. Let us look at one specific report which saves lot of paper (cheque writing) i.e, Bank format report of SPP.

Bank Formats in Saral PayPack:

Gone are the days where an employer remits the salary of employee through cash. Then came in to existence the cheque system, where employer issues a cheque to the employees. The technology has grown up to such an extent, so that employer can pay employee’s salaries just with a mouse click.

Yes, we are talking about the Electronic Funds Transfer which has brought a significant change in the payment systems. Now the employer can remit the employee’s salary through direct crediting to the employee’s bank account. These days many organizations are opting for this type of remittance towards salary to its employees.

You all know that Saral PayPack possesses the most asked requirements in it. Direct crediting of salary to the employee’s account can be made through Saral PayPack. For direct crediting of salary to employee’s salary you need to submit a soft copy of a document, which contains the employee details, account no., and amount to be credited in a particular format specified by bank.

In SPP we are giving the bank formats of the banks like, Axis Bank, Bank of Baroda, Bank of Rajasthan, Canara Bank, Centurion Bank, HDFC, HSBC, ICICI (both excel and text formats), Indus Ind, Punjab National Bank, SBI, Standard Chartered Bank etc.,

By default, Saral PayPack provides the user with the above mentioned bank’s formats. Some banks may have the excel format and some may have the text format. You can generate the text or excel file with the specified format. It can be saved and sent to the Bank through floppy or any electronic media.

After processing the salaries of employees, all you need to do is:

The direct crediting of salary to employees bank account helps payroll officer in reducing the manual work and it saves time. It also saves the remittance costs and instant crediting of salaries is possible through this. The technology has developed to a great extent and banks are also encouraging the same by giving the corporate salary accounts etc.,

Now the question goes like this…

Are you remitting your employees salaries trough SPP Bank format report? If not so, when you are adopting this in your payroll routine?