Investment & tax planning

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Investment and tax planning is essential for every individual to secure the employees future and to invest in a way to reduce the tax deductions and increase the amount of net salary received by the individual. Majority of the organisation work under a complex legal environment as they need to oblige by the local, state and statutory compliance of the country. Also the rules set up by the taxation and legal departments are pretty complex. With Beehive’s human resource management solution the organizations can maintain a check on the regulated requirements also can trigger alerts in case of non-compliance, cases like that should be taken up on priority as heavy charges shall be levied in forms of fines and penalties.

Our Investment and tax planning application aids in smoothly integrating with our payroll software and our employee self-service application. This ensures that an employee’s savings projections, salaries, bonuses, incentives and deductions are all interlinked, making it simpler to maintain records. No dual entry of data required helping save time and reduce manual errors. The investment and tax planning application is easily integrated with our payroll and ESS applications so that they can efficiently and accurately plan their taxes for the financial year. The same calculation and data is also used by our payroll application for tax calculations.

Beehive’s features rich assistance assists your employees in their Investments and tax planning:

  • Enter the Investment details and get the instant projections for TDS.
  • Tax planning can be done with this module easily, by testing various combinations to get the best combination.
  • Employee savings projections can be captured in the Income Tax module or from the ESS during the year.
  • Form 16 can be easily generated using payroll, tax and exemption data available in the module.
  • Provide Flexible Benefit Plan monitoring and execution
  • Update employees with ‘Tax Working’ for each month (We stay current with latest updates on tax rules & computation)
  • Reports generation in Government approved formats for all the statutory compliance such as PF, PT, ESIC, TDS
  • We offer personalized services to employees and employers like Tax & Investment Planning, PAN/TAN applications, Online filing and/or Help Desk for filing Personal Income Tax Returns, ETDS computation, Income Tax worksheet of individual employees, Form 16 Generation & distribution
  • We provide Investment/Insurance advice, Gratuity plan selection

With Beehive’s ESS application employees can access their pay stubs, offer letters, tax forms and all of this in digital form. These proofs are also to be submitted in digital views reducing the usage and saving the handling cost of paper and files. It also ensures that the risk related to loss of data due to incidents like fire and theft can be avoided. Advices and plan offers can be uploaded once into the employee ESS which shall be projected to all the employees. Communication also gets enhanced with the usage of an HRMS solution. With Beehive employees can obtain an IT Planning excel file. The formulae in the excel sheet will allow the employee to plug in various projections based on exemptions (investments, insurances, bonds etc. ) that are approved by the government and view the impact on tax liability.