HivePayroll Review 2023: The Ultimate Payroll Software for India
Are you looking for reliable and affordable payroll outsourcing solutions in India? In this software review blog, we’re going to review a free and affordable payroll software called HivePayroll. Yes, you heard it right, HivePayroll is a payroll software specially designed for Indian businesses that are looking for affordable payroll software solutions.
Do you struggle to keep up with changing payroll laws and regulations? or Is your current payroll system slowing down your business growth? Don’t worry, try once Hivepayroll and you’ll feel good. So guys let’s explore more about this ultimate payroll software so you can take the right decision. In, this blog we’ll review everything that you must know before investing in a Payroll management system. We’re going to explore Hiveparoll’s overview, features, pricing, reviews and ratings, and alternatives to HivePayroll in 2023. So guys keep reading and continue…
About HivePayroll
HivePayroll is a cloud-based payroll software in India that helps businesses automate their payroll processes, manage employee data, and comply with payroll regulations. As an ISO 27001:2013 certified payroll software outsourcing and managed payroll services company, HivePayroll ensures the security and confidentiality of your payroll data.
Managing payroll can be a challenging task for businesses of all sizes. From calculating employee salaries to complying with tax regulations, it can take up valuable time and resources. However, with HivePayroll, businesses can simplify their payroll process and focus on what matters most – growing their business.
HivePayroll is a cloud-based payroll software solution in India that offers a range of features designed to streamline payroll management. From automating calculations to generating reports, HivePayroll can help businesses save time and reduce errors. In this article, we will explore the key features and benefits of HivePayroll and why it is the ultimate payroll software solution for Indian businesses.
Key Features
| 1. Automated Payroll Calculations |
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| HivePayroll automates payroll calculations, including employee salaries, taxes, and other deductions. This eliminates the need for manual calculations, saving businesses time and reducing the risk of errors. With HivePayroll, businesses can be confident that their payroll is accurate and compliant with tax regulations. |
| 2. Compliance with Changing Laws and Regulations |
| Keeping up with changing payroll laws and regulations can be a challenge for businesses. However, HivePayroll is designed to ensure compliance with all relevant laws and regulations. This includes calculating taxes and deductions as per the latest guidelines and generating accurate reports for filing tax returns. |
| 3. Cloud-Based Platform |
| HivePayroll is a cloud-based platform, which means that businesses can access their payroll data from anywhere, at any time. This is especially useful for remote teams or businesses with multiple locations. HivePayroll also offers data backup and security features to protect against data loss or theft. |
| 4. Employee Self-Service Portal |
| HivePayroll offers an employee self-service portal, which allows employees to access their payroll information, such as payslips, tax deductions, and leave balances. This eliminates the need for HR staff to answer routine employee queries, freeing up their time for other tasks. |
| 5. Attendance Management |
| Managing employee attendance can be a cumbersome task for any organization. With HivePayroll, you can easily track and manage employee attendance, leaves, holidays, and work from home. This feature also enables managers to monitor attendance patterns and ensure accurate employee compensation based on hours worked. HivePayroll also offers integration with biometric systems and RFID for accurate and automated attendance tracking. |
| 6. Leave Management |
| Managing employee leave requests can be a challenging task, especially when done manually. HivePayroll simplifies leave management by providing an easy-to-use platform for employees to request leave, and for managers to approve or deny the request. This feature also ensures that employee leave balances are updated in real time, reducing the risk of over or underpaying employees. |
| 7. Effortless Payroll Processing |
| HivePayroll’s payroll processing feature is designed to be efficient, accurate, and hassle-free. It automates the entire payroll process, from calculating employee salaries to generating pay slips, to disbursing salaries directly to employees’ bank accounts. This feature also includes automatic tax calculation and ensures compliance with statutory regulations. |
| 8. TDS Management |
| TDS (Tax Deducted at Source) is a crucial component of payroll processing in India. HivePayroll simplifies TDS management by automatically calculating and deducting TDS from employee salaries based on their tax slabs. This feature ensures that the correct amount of tax is deducted, reducing the risk of non-compliance and penalties. |
| 9. Statutory Compliance |
| HivePayroll is designed to ensure compliance with all statutory regulations related to payroll processing in India. This feature includes automatic updates to comply with changes in tax laws, labour laws, and other regulations. With HivePayroll, you can be confident that your payroll processes are compliant with all applicable regulations. |
| 10. Customizable Reports |
| HivePayroll offers customizable reports, which allows businesses to generate reports as per their specific requirements. This includes reports on employee salaries, taxes, deductions, and other relevant data. Customizable reports also make it easy for businesses to track their payroll expenses and identify areas for cost savings. Generating accurate reports and analytics is essential for any organization. HivePayroll offers a range of reports and analytics to help you make data-driven decisions. This feature includes reports on attendance, leaves, salary disbursement, taxes, and more. It also enables you to customize reports based on your specific requirements, making it a valuable tool for managers and HR professionals. |
HivePayroll offers a comprehensive payroll software solution that simplifies attendance management, leave management, payroll processing, TDS management, statutory compliance, and report and analytics generation. With HivePayroll, you can streamline your payroll processes, reduce errors, and ensure compliance with all applicable regulations.
Benefits
| 1. Time and Cost Savings |
| With HivePayroll, businesses can save time and reduce costs associated with manual payroll calculations and administration. This frees up time for HR staff to focus on other tasks, such as employee engagement and training. By outsourcing payroll management to HivePayroll, businesses can also save on the cost of in-house payroll administration. |
| 2. Accurate and Reliable Payroll |
| HivePayroll ensures accurate and reliable payroll calculations, reducing the risk of errors and compliance issues. This ensures that employees are paid accurately and on time, improving employee satisfaction and retention. |
| 3. Easy Access to Payroll Data |
| HivePayroll’s cloud-based platform allows businesses to access their payroll data from anywhere, at any time. This makes it easy for businesses to manage their payroll remotely, without the need for physical documents or files. It also ensures that businesses have access to real-time data, which can be used for decision-making. |
| 4. Improved Data Security |
| HivePayroll offers data backup and security features, ensuring that payroll data is protected against loss or theft. This is especially important for businesses that deal with sensitive employee data, such as social security numbers and bank account details. |
| 5. Customizable and Scalable Solution |
| HivePayroll is a customizable and scalable solution, which means that businesses can tailor the software to their specific needs. As businesses grow and expand, HivePayroll can be easily scaled to accommodate their changing payroll needs. This makes HivePayroll a flexible solution that can grow with the business. |
How HivePayroll Works
HivePayroll is a payroll processing software that helps businesses manage their employees’ pay runs. HivePayroll is a user-friendly software solution that can be easily integrated into any business. Here’s how it works:
Step 1: Signup for the HivePayroll account
To sign up for the hivepayroll account, visit the website and click the “Get Started” button on the top right corner. After clicking on the button you will be directed to the Signup page where you can easily create your account by filling in a few pieces of information like your company name, email, password phone number, and Coupon Code if available.
Step 2: Log in to your account
When you have created your account successfully after verifying the account via the email sent to your email that was used when signup for the account. When clicking on the verify link you will be redirected to the login page where you can fill in your login credentials to access your account.
Step 3: Company setup
This is the important step to take after login your account. To use the platform, you have to set up your company details by filling in a few details like Company Info, Company Logo, Salary Components & Structures, Location, etc. to effectively manage your payroll.
Step 4: Employee setup
In this step, you will be asked to add employee information like General info, Professional Info, Statutory Info, Leave Rule, and Balance.
After setting up the organization and employees you can start using HivePayroll.
Pricing and Plans
In this section, we’ll explore the HivePayroll pricing in 2023. HivePayroll offers a range of pricing plans to suit businesses of all sizes. The plans are as follows:
| 1. Standard Plan |
| The Basic Plan is available with free 15 days trial. If you want to use this plan to continue after the trial days then you have to pay ₹25 /Month /Employee. |
| 2. Premium Plan |
| Premium Plan is also available with a 15-day free trial and after consuming your trial you have to pay ₹39 /Month /Employee to avail of the solution continues. |
| 3. Ultimate Plan |
| The Ultimate Plan also comes with a free trial of 15 days. This plan is started from ₹49 /Month /Employee. |
Follow the below screenshots to see the full details about HiveParoll plans and pricing:
HivePayroll Alternatives
If you’re looking to know a few most relevant alternatives to the HivePayroll then look no further! We’ve got you covered. Here we’re showcasing some of the top alternatives to HivePayroll. So sit back, relax, and let’s dive in!
1. Pocket HRMS
First on our list is Pocket HRMS. This software is known for its ease of use and comprehensive features. With Pocket HRMS, you can automate payroll processing, leave management, attendance tracking, and more. Plus, it comes with a mobile app, so you can manage your payroll on the go. With the help of Pocket HRMS, you can streamline multiple HR tasks. If we talk about the pricing of Pocket HRMS then it’s starting at ₹ 2495 /month (for 50 employees).
2. WalletHR
Next up is Wallet HR. This is India’s most comprehensive HRMS software. It offers an easy-to-use interface and customizable features that can be tailored to your company’s specific needs. Plus, Wallet HR has a unique feature that allows employees to manage their own payroll and tax information. If we talk about WalletHR pricing then you have to first decide what products you’re willing to use because WalletHR offers a wide range of HRMS-related products that you can see below:
- Recruitment
- Core-HR
- Employee Dashboard
- Attendance Management
- Leave Management
- Payroll Management
- Organization Chart
- HR Analytics
- Performance Appraisal
- Timesheet Management
- Ticketing
- Flexi-Pay & Reimbursement
- Travel Management
- Task Management
- Training Management
- Learning & Development
- Grievance Management
- Exit Management
- Visitors Management
- Canteen Management
- Eedo – Wallet HR Assistant
- Mobile Application
- Attendance Device
- Access Control
3. HRMantra
If you’re looking for an all-in-one HR and payroll software, HRMantra is the one for you. This software offers a range of features, including recruitment, onboarding, performance management, and more. It also comes with a user-friendly interface and customizable dashboards. HRMantra is not covering only Indian businesses but is offering a 360-degree HRMS & Payroll Software service worldwide.
4. RazorpayX Payroll Software
RazorpayX Payroll is a cloud-based payroll software that offers automated payroll processing, compliance management, and employee self-service. It also offers an AI-powered salary disbursement system, which ensures accurate and timely salary payouts. You can use RazorpayX Payroll as your complete payroll solution. Also, RazorpayX Payroll offers its premium plan free for 3 months with all features.
5. PeopleWorks
PeopleWorks is another all-in-one HR and payroll software. It offers a range of features, including payroll processing, employee self-service, performance management, and more. Plus, it comes with a mobile app, so you can manage your payroll anytime, anywhere. you can trust this software because they already have 200,000+ employees managed, 20+ years of expertise, and 200+ Clients.
FAQs
What is HivePayroll?
HivePayroll is a cloud-based payroll software solution for businesses in India.
Is HivePayroll free?
HivePayroll offers a free trial for 15 days with all their Basic to Premium plans.
Can HivePayroll be used by businesses of all sizes?
Yes, HivePayroll offers pricing plans for businesses of all sizes.
Does HivePayroll comply with Indian tax laws and regulations?
Yes, HivePayroll ensures compliance with all relevant tax laws and regulations in India.
Is HivePayroll secure?
Yes, HivePayroll offers data backup and security features to protect against data loss or theft.
Does HivePayroll offer customer support?
Yes, HivePayroll offers customer support through phone and email, as well as a knowledge base.
Can HivePayroll be customized to suit specific business needs?
Yes, HivePayroll is a customizable solution that can be tailored to suit specific business requirements.
What payment methods does HivePayroll accept?
HivePayroll accepts payments through credit cards, debit cards, and net banking.
How do I get started with HivePayroll?
Businesses can sign up for HivePayroll on their website and get started with the software.
