ePayslips or electronic pay slips are basically payslips in electronic format or digital format that is accessible online over the Internet. It serves the same function as an ordinary payslip which is a document that an employee receives for a paid salary and normally contains the amount of salary/ pay, the period covered, deductions to the salary, among others.
Electronic payslips however have added advantages over a printed payslip. For one, it is accessible online via the Internet. This means that viewing that payslip can be conveniently done by the employee 24-7 at practically anyplace in the world that has an internet connection. Incidentally, it goes without saying the epayslips comes as part of an online computerized payroll system, which is usually a subset or module or a more comprehensive human resource information management system.
The convenience of accessing epayslips online allows employees to get a hold of such document where and when they needed it, without the hassle and time consuming process of going the company office, requesting for a copy of the payslip, and spending money, time and effort in the process. E-payslips can be produced and reprinted at the convenience of the employee if required such as in case of application for loan or subscriptions. electronic pay slips are stored on the system indefinitely and employees can look up their history of payslips. Finally as a computerized system, payslips are quickly prepared and in most instances, made available earlier than usual.
Business process outsourcing (BPO) included outsourcing backend operations such as accounting including payroll processing, Certain BPO company specialized in providing or outsourcing payroll processing system which included the releasing of epayslips. Among the companies that specialized in providing payroll processing included Payrollpinas Corporation and Payroll Service Providers, Inc. (PSPI).
This BPO companies developed their own payroll processing systems that can be customized to fit a companies accounting system. Among the services included in payroll processing are attendance monitoring, generation and retrieval of government reports and generation of epayslips, bank advice and report.
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