POI Enhancements - Changing Income Tax Regime of Employees
As per Union Budget 2020, employees have the provision to choose or change their income tax regime. Sometimes as finance admin, you might require a little control at the time POI or Proof of Investment declaration such as allowing an employee to change their regime or allowing the employees to attach POI before a declaration. Our latest upgrade to POI module makes the POI process easier.
This enhancement allows you to perform the following actions:
1. On the POI page, you can view a new filter: Filter employees based on regime. This option allows you to filter employees in POI module based on their regimes.
2. Choose whether an employee can change their regime choices while declaring POI. If you are an existing POI user, you can contact our support team for enabling/ disabling this option for employees in ESS portal.
3. Change an employee’s regime while reviewing POI.
Eager to explore all POI enhancements? Explore the POI module now! Our existing users can understand more about the enhancements on the POI Track, POI Review, and ESS documentation pages. Our new users can learn more about the enhancements on POI Overview and ESS documentation pages.
Presenting an all-new enhanced Company Policies and Forms!
One of the most important tasks of an HR admin is to create company policies and update all the employee information through forms. Creating company policies and releasing them to employees helps the employees stay compliant with the latest company rules and regulations. The process of creating forms and getting them filled in a timely manner helps the organization to manage all the employee-related information systematically. These tasks are complex and repetitive in nature.
Do not worry! To simplify this complex process, we present you with a whole new enhanced greytHR Company Policies & Forms module. This module will help you perform the following actions:
- Configuring, managing, tracking, and maintaining all company policies and forms.
- Creating various customized forms such as contract forms, background check disclosure forms, employee personal detail forms, etc.
- Initiating the filing of different forms for employees from the application.
- Creating new company policies such as leave policies, reimbursement policies.
- Optional release of newly created forms and policies to employees through ESS portal.
To explore Company Policies & Forms module, navigate to Employee > Setup > Company Policies & Forms. You can also learn more about the Company Policies & Forms module by reading our knowledge base page.
No more Payroll Processing for updating Backdated Category Information in Reports and Payslips
Currently, whenever you update an employee’s category information, the updated information reflects in the reports and payslips only after processing the payroll. The repeated payroll processing to update backdated information is not a practical approach.
To ensure a better and faster approach to update information in reports and payslips, we have introduced an option on the Payslip page. If there is a change in employee’s category information such as Location, Department, Designation etc, then this option informs you and helps you in changing all the backdated employee’s category information without processing payroll.
To update employee’s category information, navigate to Payroll > Published Info > Payslip page. If any category information is changed for the selected employee, you will be able to view an information box on the Payslip page. You can click Update Now to update the category information before processing the payroll. The updated information will then reflect in all the reports and payslips which are then ready for you to download.
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Adding Income and Deduction Components to Salary Simplified!
Adding salary components has become a much easier task now. You can now add income and deduction components by yourself. There is no need for raising a ticket to our support team anymore.
We have introduced two new options in the greytHR application: Add Income Component and Add Deduction Component. These options help you to add one time components and variable payments independently. The options also help you in saving time while processing payroll.
We have added the new options in Salary page. You can find this option here:
Payroll > Payroll Inputs > Salary.
Is collecting investment proof from employees an overwhelming task for you? We present you with an enhanced POI module
As all of us are aware that the whole process of tracking, reviewing, and declaring employees’ POI is tedious, manual, and time-consuming. Declaring POI is a very important aspect of payroll computation. A small error can affect employees’ tax computation, thus directly affecting their take-home. All these complications related to declaring POI is now transformed into an easy and seamless process.
With absolute joy, we announce our newly revamped POI Module. Reduce paperwork and streamline the POI process with just a few clicks! The new POI module helps in simplifying the whole process, speeding up the review process, creating transparency, and reducing the chances of human error. With the new POI module, even employees can view and declare their POI form in new ESS.
The POI module has turned into a new leaf. The new enhanced POI module offers you the following benefits:
1. Release, track, review and consider POI easily and have complete control of employees' POI form. 2. Set auto-lock date for POI. 3. Send a reminder to employees to submit POI. 4. Reject an IT declaration if proofs are not sufficient or unavailable. 5. Review each employee’s proofs and take actions (Approve/Reject/Override). 6. Review individual proof attachments. 7. Capture family details as part of the POI declaration. 8. Re-Release individual items for employees to declare. 9. Section-wise declaration. 10. Easy tracking of POI form for admin and employees both. 11. Approve employees POI and keep in the Locked and Reviewed state before pushing it to payroll.
Transform your declaration process with our enhanced POI Module now! Users who have migrated to the new ESS can view the Proof Of Investment page at Payroll > Admin > POI Overview. Employees' can also view their POI details in new ESS logins.
For users who are yet to migrate to new ESS, can raise a ticket to configure the POI module.
Our team will enable and set up the module for you. We will also provide you with a demo and knowledgebase articles for admin and employees to equip you with complete information required to use POI Module.