Do you know what forms an integral part of a business’s strong foundation? Its employees!
Therefore, it’s important to keep a company’s employees motivated in order to help it cross new milestones and achieve new heights. One way to achieve this is ensuring proper and timely employee payouts!
There are many challenges that a business faces when it comes to employee payouts. Timely salary payouts is an important function for a business in order to keep its employees motivated. However, the biggest hurdle faced by businesses is that salaries can be processed only on working days and not 24x7x365. This ends up putting a lot of pressure on various business resources such as the Finance and Human Resources departments to process the same.
Another obstacle for some businesses is the tax benefits, which are required to offer solutions for tax savings to their workforce. At the same time, reimbursement of employee expenses can also be a tedious task when done manually.
The solution & benefits
This is when Paytm Payouts comes in handy! An easy dashboard solution to support various business payouts.
Be it salaries, expenses, allowances, reimbursement, or even tax benefits for your employees, you can automate everything using this dashboard! Check out the features that can make your employee disbursals easier than ever:
As an employer, there are numerous benefits for you from instant account activation to a dedicated relationship manager. Employers can also access real-time information of employee accounts using the panel.
At the same time, there is a lot in line for your employees as well. From no fee and charges of opening the account, no minimum balance and free transactions to a free virtual and physical debit card. They can also earn interest of up to 6.5% on fixed deposits and enjoy exclusive offers along with a free accidental insurance cover of up to INR 2 Lakh.
There are various ways for you to provide tax benefits to your employees, namely:
- Food wallet:
As an employer, this is a 100% digital and fully compliant benefit to offer to your employees. It allows you to customize the food categories and verify the employee wallets before disbursal, all via a single dashboard. As for your employees, they get to save on tax, enjoy exclusive offers and can pay anywhere using the Paytm app.
- Gift wallet
This digital solution is 100% compliant and helps in offering your employees benefits that are tax-free and can be used by the Gift Wallet rewards anywhere using the Paytm app. Gift wallets can be used for other payouts also like rewards, promotions, incentives, occasion gifting, among others.
- Fuel wallet
With this 100% digital solution, your employees can pay across major fuel stations nationwide. It is a fully compliant solution. This can be used to make payouts in the form of travel reimbursement, reimbursement for a fuel top-up (cab-hailing apps), vehicle allowance, logistic expense, Genset, freight allowance, etc.
- Allowance wallet
You can manage all employee allowances using one single dashboard with this digital solution. Depending on the defined allowance, the usage of the wallet can be customized for your employees. You can define specific merchant categories and even name specific shops or merchants for the wallet’s usage. This can be used to make payouts like travel allowance, mobile & internet allowance, clothing & uniform allowance, education allowance, medical allowance, etc.
You can now ensure your employees are motivated and content by opting for seamless payouts with Paytm Payouts: a 100% digital platform for all kinds of employee benefits!