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1. Digitally Signed Form16
Income Tax announced that the employer can issue Form 16 with Digital Signature vide CIRCULAR NO. 2/2007, DATED 21-5-2007

"OPTION TO CERTIFY TDS CERTIFICATES BY WAY OF DIGITAL SIGNATURES CIRCULAR UNDER SECTION 119 OF THE INCOME-TAX ACT, 1961"

Digitally signed Form16 solution is simple, easy-to-use software that helps organizations to issue digitally signed legally valid Form 16s to their employees at just a click of mouse. This digitally signed Form 16's can be distributed using your e-mail system / Employee Self Service portal in minutes and eliminating the hassles of printing & distribution. It helps organizations to go completely paperless with the process of issuance of form 16s.
2. Parameter Driven Income Tax, Profession Tax, Provident Fund and ESIC rules:
User can simply modify the system parameters as per the statutory changes. Eliminating source code modification.
3. User definable layouts for import utilities
No fixed layout for importing employee /salary master data. User can create their own templates for importing data.
4. One click processing including Income Tax
Salary and income tax is processed by a click of a mouse.
5. Arrears calculation
Various types of arrears can be calculated accurately.
Arrears on arrears.
Same month arrears.
Arrears on leave regularization
Arrears on set days.
6. Tax computation for Expat (grossing up tax)
Expatriates coming into India and working in various companies are generally tax equalized i.e., the tax payable in India on their salary and perquisites is borne by the employer. This is to ensure that they remain tax neutral in respect of their Indian assignment. In other words, the expatriate employees are assured net-of-tax salary income. Consequently, their income is grossed up for determining the tax payable in India which is now possible in Ascent Payroll.
7. Cafe Management (Flexible Benefit Plan)
The changing trends in employee benefits : Compensation and benefits structures have been changing over the last few years.

The major drivers for these changes are
- Changing income tax rules in India
- Viewing compensation on a total remuneration basis
- Changing employee expectation: want more cash compensation

Common elements included in the flexible benefit plan
  • Compensation & Benefit Elements
  • House Rent Allowance
  • Conveyance Allowance
  • Medical Reimbursement
  • Leave Travel Allowance
  • Company Accommodation
  • Car Program
  • Fuel and Maintenance Reimbursement
  • Driver
  • Superannuation
  • Food Coupons
  • Children Education Allowance
Ascent Payroll provides parametric setup to define these compensation benefits as per the rule defined by employer.
8. Full and final settlement
Print Pay Slip for Full & Final and final Income Tax Calculation worksheet (Provisional Income Tax Certificate). As per the actual declaration given by the employee then final tax will be calculated.
9. Parameter Driven Salary JV
Ascent Payroll generates 6 dimensional Salary JV

1. Account Code (Mandatory)
2. Employee Number (Optional)
3. Cost Centre (Optional)
4. Business Area (Optional)
5. User Defined Field 1
6. User Defined Field 2

Possibility to book these dimensions using 3 ways

1. Dimensions from master
2. Dimensions from allocation such as project
3. Common dimensions

Easy integration with any ERP system.
You can export the output of this JV to a Tab Delimited Text file which can be opened in MS Excel.
The export function can be customised to generate the output in the format required by your Financial or ERP system, if it has voucher import facility. This has already been done for ERP systems such as SAP, Oracle, Scala, Baan and Movex for some of our prestigious clients.
10. Report Generator (own designed format)
This is the unique feature of Ascent Payroll. User can design his/her own reports and export the information to a Tab Delimited Text file which can directly be opened in MS Excel.
We can also filter the required output by applying certain conditions based on your selection criteria.