Salary management
Salary management software with versioned pay structures
Define components once, give every employee a salary that is revised by version rather than overwritten, and handle bonuses, incentives, loans and advances in the same place the monthly salary is calculated.
Salary components
Build pay structures from reusable components
A component template is defined once, such as HRA, conveyance, night allowance, PF or TDS, and then attached to any employee's salary. The template holds a default value; an individual employee can have their own figure.
Fixed amount
The same rupee figure every time, such as a ₹1,600 conveyance allowance.
Percentage of base
A share of the base salary, such as HRA at 20%. It is worked out on the base left after absent-day deductions.
Multiplier
The base salary multiplied by a factor you set, for structures that are easier to express that way.
| Component | Type | Value | Applied | Earning or deduction | Taxable |
|---|---|---|---|---|---|
| House rent allowance | Percentage | 20% | Monthly | Earning | Yes |
| Conveyance | Fixed | ₹1,600 | Monthly | Earning | Yes |
| Night shift allowance | Fixed | ₹150 | Only on working days | Earning | Yes |
| Sunday allowance | Fixed | ₹300 | Only on Sundays | Earning | Yes |
| Uniform allowance | Fixed | ₹3,000 | Yearly | Earning | No |
| Provident fund (employee) | Fixed | ₹1,800 | Monthly | Deduction | No |
| TDS | Fixed | As decided | Monthly | Deduction | No |
Components can also be applied daily or by a rule (conditional). Templates are shown in the order you choose, so payslips list earnings and deductions consistently. For how these add up to take-home pay, read CTC vs gross vs net salary.
Revisions
A raise adds a version. It never rewrites history.
In a spreadsheet, typing a new salary over the old one quietly changes what last year looked like. In Swastik Payroll, every revision is saved as a new version with an effective month and year.
- Each month's salary is calculated from the version in force for that month.
- Previous versions are never edited, and the full salary history stays on the employee.
- Each calculated month records which version it used.
- Locked months are not recalculated when a later revision is added.
- The per-day rate for each version is its monthly base divided by 30.
Back-dated revisions. If a raise agreed in June is effective from April, and April and May are already locked, those two months keep the salary they were paid on. Pay the difference for them as an adjustment or bonus in an open month, with a note, so the record shows both.
Planning a revision? Our salary calculator shows the take-home effect of a new structure.
Variable pay
Bonuses and incentives, approved before they are paid
Bonuses
Record performance, festival, annual, attendance or other bonuses against a month. Only approved bonuses are included in that month's salary; a bonus can also be skipped or cancelled.
- Recurring bonuses every month, 3 months, 6 months or year
- Bonus report by month and employee
Incentive groups
Group incentives by name and month, for example a Diwali sales drive or a production target, and enter each employee's amount inside the group. The group total is shown as you go.
- All groups for a month add up on the salary record
- Incentive report, with its own view permission
Loans and advances
Recoveries that follow real life, not a fixed schedule
Staff ask for an advance before a wedding, then need a month off repayments during a festival. Swastik Payroll lets HR record that without breaking the balance.
- Advances are recovered in one go or by EMI over a set number of months, from a start month.
- Loans have a name, amount, EMI, start and end month, and can be paused.
- Skip a month for either, and no recovery is taken that month.
- Custom deduction sets a different amount for one month without changing the plan.
- Deduction history is written when the month is locked, with a monthly advance report.
Payslips
Salary slips that show where the money went
Each month produces a PDF salary slip and a printable view. The slip lists the earnings, deductions, loan and advance recoveries, bonus and incentive behind the net figure, so an employee can check it line by line.
Employees with a login can open and print their own slips. Need a one-off slip for someone not on the system? Use the free payslip generator.
What stays with you
Swastik Payroll records TDS as a deduction component but does not compute income tax, and gratuity is not calculated inside the product. Estimate either with our TDS calculator and gratuity calculator, and confirm the figures with your CA.
FAQ
Salary management questions
Can two employees on the same component have different amounts?
Yes. The component template has a default value, and you can set a custom value on any employee's salary. Changing the template default does not overwrite custom values.
What if less than the loan EMI is recovered in a month?
For loans, the amount still due against the schedule is picked up in the following month, capped at the remaining balance. Months you mark as skipped are left out of the schedule, so they do not create a catch-up.
Do loans and advances need approval?
Yes. New loans and advances start as pending and are recovered only after they are approved. Rights to view, add, change or delete them are granted separately to staff users.
Can we see what an employee earned two years ago?
Yes. The salary history lists every version with its effective month, and locked monthly salary records and slips from that period remain as they were paid.
Does salary management include appraisals?
No. Swastik Payroll records the revised salary once you have decided it. Performance reviews and appraisal workflows happen outside the product.
Related
Payroll Software
Monthly salary runs from attendance to payslip.
Employee Management
Profiles, departments, bulk import, permissions.
Payroll Compliance
PF & ESIC figures, portal files, audit trail.
CTC to In-Hand Calculator
Annual CTC to monthly in-hand salary.
How to Calculate Salary
Per-day rate to net pay, step by step.
Salary Slip Format
Every earning and deduction explained.
See your salary structure set up as components
Send us a sample salary structure with any running loans or advances. We will build it in Swastik Payroll during the demo and show a revision and a recovery in action.