Introduction/Overview
What this service is:
Fovestta Payroll Automation is a cloud-based solution that handles complete salary processing from attendance data to bank transfers, including all statutory deductions and compliance requirements.
Why it's important :
Manual payroll processing takes 10-15 days monthly, prone to errors costing thousands in penalties. Fovestta automates calculations, ensures TDS/EPF/ESI compliance, and delivers payslips instantly.
Who it's for:
SMBs with 10-500 employees, growing enterprises, HR managers overwhelmed by compliance, and finance teams seeking accuracy.
Key Features
Smart Salary Calculation
Automates basic salary, allowances, deductions, and net pay
Statutory Compliance
EPF, ESI, PT, TDS calculations with auto-updates
Payslip Generation
Professional, customizable payslips delivered instantly
LOP & Adjustments
Loss of pay, arrears, loans, and advance handling
Payroll Reports
MIS reports for management and statutory filings
Mobile Approval
Approve payroll changes from anywhere
Attendance Integration
Seamless sync with attendance and leave data
Working Process
How It Works
1
Data Collection
Attendance, leave, and employee data auto-pulls
2
Calculation Engine
Applies salary structure, deductions, and statutory rules
3
Review & Approval
HR/manager approves final payroll
4
Payslip Distribution
Employees receive payslips via portal/email
5
Bank Upload
Direct salary transfer files for banks
6
Statutory Filings
Auto-generates EPF/ESI/TDS reports
Integration Points
Attendance & Leave modules
Employee Self-Service (ESS)
HR Analytics
dashboard
Third-party payroll banks
Benefits
- 80% time savings on monthly payroll processing
- Zero compliance penalties with auto-statutory updates
- Cost reduction by eliminating payroll errors
- HR teams focus on strategy, not calculations
- Employees get instant payslip access anytime
- Managers approve payroll from mobile devices
- 80% time savings on monthly payroll processing
- Zero compliance penalties with auto-statutory updates
- Cost reduction by eliminating payroll errors
Metrics/ROI
Key KPIs Improved:
Payroll Processing Time
15 days → 2 hours
(98% reduction)
Compliance Errors
100% → 0%
Employee Queries
50/month → 5/month
Penalty Savings
₹2-5 lakhs annually
Typical ROI: Businesses recover investment within 3-6 months through time savings and error prevention.
Use Cases / Scenarios
Monthly Payroll Run
200 employees processed in 30 minutes
Festival Bonus
One-click special payout for Diwali allowance
Employee Loans
Auto-deduct EMI from salary with approval workflow
Statutory Audit
Ready MIS reports for labor inspector visits
Remote Approvals
MD approves final payroll from iPad during travel
Customer Story: “Reduced our payroll time from 12 days to 2 hours monthly.” – HR Manager, 150-employee manufacturing firm
Screenshots/Mockups
Payroll dashboard overview
Salary structure setup
Payslip preview screen
Statutory reports export
Security & Compliance
Data Security
AES-256 encryption for payroll data
Role-based access control
Audit trails for all changes
GDPR & ISO 27001 compliant
Regulatory Compliance
Real-time EPF/ESI/PT/TDS updates
Form 16 & 16A generation
Labor law compliant across 28 states
Frequently Asked Questions
Yes, our payroll automation stays updated with EPF, ESI, Professional Tax, and TDS rules across all Indian states.
Absolutely. Create custom allowances, deductions, and arrears as per your company policy.
Attendance and leave data automatically flows into payroll calculations for accurate LOP and salary processing.
Our system flags discrepancies during review. Bulk corrections and reprocessing take under 5 minutes.
Yes, through our secure employee self-service portal accessible 24/7 from any device.
Full support for employee loans, EMI deductions, and advance salary processing with approval workflows.
EPF/ESI challans, Form 16, payroll registers, and MIS reports—ready for statutory inspections.