Payroll is a non-value added process for tech startup founders – but an important and essential one.
According to studies,
- 40% of tech startup founders say bookkeeping and taxes are the worst part of owning a business and the most time-consuming
- Tech startup founders nearly spend 11.67 average hours every month in processing payroll
- A majority of tech startups in India have incurred huge costs for payroll compliance over the past 5 years
If you are a tech startup founder or a small business owner, you must have experienced issues while processing payroll.
Old-school payroll methods used by founders
While there are multiple ways of executing payroll, most of them are costly, time-consuming, and error prone.
Manual payroll processing
Over 37% of payroll errors occur due to manual data entry.
As a startup, you may use Excel spreadsheets to make payroll calculations. But, making elaborate calculations manually is tedious, lengthy, and erroneous. And these mistakes can lead to expensive problems.
Outsourcing
6.1% of manual errors happen because of outsourcing payroll. Consequently, you have very little visibility of your payroll process.
So, if you are the kind of founder who wants to oversee your operations and execute them on your own, payroll automation is your way to go.
RazorpayX Payroll – built for founders like you.
RazorpayX Payroll eliminates manual efforts in executing payroll, with a comprehensive set of features at affordable pricing. It takes care of salary disbursals on time, compliance processing, leave & attendance –– all in an intuitive dashboard.
Employees can access their documents like payslips, Form 16, etc. at any time and from anywhere.
Employee onboarding
RazorpayX Payroll eliminates the manual task of collecting and maintaining employee ID proof, bank account & PF account details on spreadsheets.
Salary & freelancer payments
The software automates payroll calculations, invoice payments, TDS deductions, and disbursals. Like employees, your freelancers also get access to personal dashboards where they can upload invoices easily and get paid on time.
Compliance
RazorpayX Payroll deals with compliance payments (TDS, PF, ESI, and PT) along with their return filings. It provides all challans of compliance payments in a single dashboard. So, you don’t have to worry about managing compliance reports and challans on paper.
PF registration for employees
The software automatically manages PF register with new employee additions and exits. And, it also takes care of the UAN generation for employees.
Group health insurance
RazorpayX Payroll offers best-in-class group health insurance with comprehensive coverage. With affordable pricing, it caters to businesses as small as 2 employees.
The right choice for startup founders
We understand that every aspect of running a business is equally important to you, so is processing payroll.
RazorpayX Payroll is the only software in India that unifies payroll, compliance, and employee benefits without complex integrations and steep fee.
It’s time to set your payroll on auto-pilot and use your valuable time on accelerating your business growth.
