Bank Transfers (Salary Disbursement)
Payslips & Disbursement
INDPayroll provides a seamless, secure, and compliant mechanism for transferring employee salaries directly into their bank accounts. The system supports a wide range of Indian banking formats to streamline payroll processing.
Generating Bank Transfer Files
- Navigate to Payroll → Disbursement.
- Select the payroll month.
- Generate electronic bank transfer files in formats supported by major banks, including NEFT files, RTGS files, IMPS/bulk transfer (depending on bank capability), and custom bank templates (ICICI, HDFC, SBI, Axis, Kotak, etc.).
- These files include employee bank account details, IFSC codes, salary amounts, and the disbursement batch reference number.
Uploading Files to Banking Portals
- Download the generated file from INDPayroll.
- Upload it directly to the company's corporate banking portal.
- Approve and authorize salary transfers based on bank workflow (Maker–Checker process supported).
Auto-Update of Disbursement Status
- Salary payment status updates automatically in INDPayroll.
- Employees receive disbursement notifications (optional).
- Rejected or failed transactions are flagged for correction.
Reconciliation & Validation
- Matches processed salaries with bank confirmation files.
- Highlights mismatches such as incorrect account details or insufficient funds.
- Maintains a dashboard summary for Finance teams.
Best Practices
- Reconcile the payroll summary with total bank transfer amounts before uploading files.
- Maintain archived NEFT/RTGS files for audits and future reference.
- Ensure all employee bank details are validated during onboarding.
- Enable dual approval workflow to reduce salary disbursement errors.
- Follow RBI guidelines for corporate fund transfers.