Top 7 Tips on Fraud Prevention in Payroll Software

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Be Aware of frauds while calculating Payroll
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What is Payroll Fraud?

• In simple terms, Payroll fraud is defined as
  unfair or dishonesty within the company. It can
  be on both sides employees as well as employers.
  There are numbers of ways where payroll frauds
  are being committed which includes the following
• Payroll Process
• Employees or workers may inform about the high
  salaries and paid some other amount or managers
  may show false employee list and take away wages.

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• Information Leakage
• Here manager or any employees may leak the salary
  sheet due to which confidential data of employees
  or accounting information of a company may be
  misused.
• Attendance Management
• Employees who have worked for a month may not
  get the salary if they are not included into the
  payroll list or employees may claim for the
  salaries of days when they were not present in
  the company or organization.

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• Daily Wages
• In this process, employees may be paid for the
  less hours than they works or employees may claim
  for more hours than actually, they have worked.
• Incentives
• Here workers or employees are paid on the
  products or clients they have built for the
  company. So while paying them, it may happen that
  they do not receive the correct amount for the
  products they produce or the sales they have made.

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• How to prevent payroll frauds?
• The best way to prevent your companys HR and
  Payroll fraud is by using a secured and automized
  system which fulfills your companys requirement.
  To safeguard your organization/company against
  frauds one can have a trusted payroll provider.
  While using automate system one can set the
  rights of the employees according to their
  designations so that no frauds is done in Payroll
  Processing.

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• Payroll Process
• factoHR Payroll Software provides the on-boarding
  module which has the facility of generating
  employees offer letter, appointment letter, memo
  and warning letter automatically and it also has
  a salary which is integrated with the payroll so
  that there are no chances of doing frauds with
  employees. As it has the facility of managing
  documents, there is no chance of creating a false
  employee list by managers. Only authorized
  persons can enter new hires data into the system.
• Information Leakage
• Here only authorized person has rights over the
  salary master for accessing data. So there is no
  chance of leakage of any information.

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• Attendance Management
• factoHRs HR and Payroll Software solution are
  integrated with the biometric machine so there is
  no chance that employees can claim for the salary
  of the day when they were not present. As
  biometric is integrated with the payroll system,
  it stores the data of employees in-out punch and
  calculates salary accordingly.
• Daily Wages
• As stated above that payroll software is
  integrated with the biometric machine in factoHR,
  there are no chances of calculating salary on
  manually calculated hours. It reduces the frauds
  in paying employees and increases the employees
  satisfaction. Employees can also apply for
  overtime and can claim for their compensation.

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• Contacts Us
• 19, Balaji Towers, Sector 30A, Vashi,
• Near Sanpada Railway Station
• Navi Mumbai 400705
• Maharashtra, INDIA
• Phone [phone]
• Website https//factohr.com/

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• Thanks