Preparing Salary Statements for 100+ Interior Industry Employees: Any Tips?

Could anyone help me in preparing the Salary Statement for more than 100 employees in the Interior Industry?

Thanks & Regards,
Maha Lakshmi
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What exactly do you wish to do? Do you want to create the salary statement or do you need to prepare the salary slips? What is the current method being used?

For a 100-person team, you should actually consider using software that will take care of your payroll. While you can manage it in Excel, a small mistake somewhere can cause you a lot of problems. Mistakes in Excel are difficult to identify, especially in a large volume payroll.

Thank you for your quick response. For calculating the salary, we are presently using the Excel sheet, and I will download the attendance from the biometric system. I need all the details like overtime (OT) and late comings.

Warm Regards,
Maha Lakshmi

It does not make sense to me that your office has sophisticated systems like biometrics but is using Excel for payroll computation. I would advise you to opt for payroll software instead. The biggest problem with Excel is that it can be modified and tampered with at any time. There is no trail of what changes were made.

You have desired to know about a good payroll system. Without going into much detail, my suggestion is:

Developing a Payroll Program

Ask your system department people to develop a program for payroll. I understand that you have a unique code allotted to each employee irrespective of their category/grade. If you do not have a separate System Department, hire a professional for the task to develop a program. Later on, you can easily make data entry and produce results. Whenever a change is needed, your system people or hired agency will come to help you. It is better to enter into an annual maintenance/service contract if hiring an outside agency.

Fields to Include

- Employee code
- Name
- Designation
- Actual Attendance
- Sunday Attendance
- OT Hours
- Leave
- Total days to be billed
- Basic pay
- DA
- Perks
- Leave encashment
- LTC/LLTC, etc. (all payable)
- Gross

Deductions

- PF
- Pension fund
- I.Tax
- House Rent
- Other applicable deductions (one field for each)
- Total deductions

Net payable.

Allot one code for each field. Keep provision for adding more fields as and when needed.

Make sure that each payment is made through the Payroll System only, which is taxable. Reimbursement of TA, Medical Bills, etc., can be paid through cash or direct transfer to a Bank A/c, as preferred.

By doing this, you can safely keep records of payments made to each employee year by year.

Regards,
AK Jain
HR Personnel
NCL, CIL

I do not agree with the concept of developing payroll software. It is a very expensive affair and costs a lot of money to maintain the software. It is not feasible for a small company. Instead, opt for standard/ready software or even better if you get a SaaS or cloud-enabled software. Google for it, and you will get options.