SHONCHOYEE- A Smart Provident Fund Management Solution

Overview

Our Provident Fund Management module is a comprehensive solution designed to automate the entire life cycle of PF transactions. From contribution detection to investments, profit calculation, and allocation to members, our integrated software ensures total business management for PF Trusts. With built-in security features for risk management, eliminate data entry errors on subscription and loan transactions, avoiding reconciliation challenges.

Key Features

• Automate Provident Fund Contributions
• Optimize Investments
• Streamline Profit Calculation & Member Allocation
• Effortless Subscription Management; Simplify Loan Repayment
• Manage PF Subscriber Information & Subscription Accounting
• Facilitate Benefit Disbursal, Enhance Loan Management, Streamline Trust Accounting
• Optimize Investments Management; Empower with System Control, Menu Control, and Functional Controls

Why Choose Our Provident Fund Management Solution?

• Accurate and Timely Reporting: Ensure precision and punctuality in your financial reporting.
• Enhanced Security: Built-in security features for robust risk management.
• User-Friendly: Intuitive interface for a seamless user experience.

Administration Module:

Gain control over your system with features like system control, menu control, and other functional controls. Customize reports according to your Trust’s requirements for a seamless administrative experience.

Integration Capabilities:

• System Integration: Seamlessly integrates with other modules such as Accounting, HR, and Payroll.
• Automated Deduction: Kormee automatically deducts employee subscriptions during the salary process and transfers them to the PF management system.

Fund Management:

• Investment Record Keeping: Instrument-wise record keeping for investments.
• Loan Record Keeping: Member-wise and loan number-wise record keeping.
• Interest Provision: System calculates interest provision with TDS or other charges recorded.
• Investment Encashment: Calculates receivable amount during encashment.
• Investment Renewal: Automatically calculates new investment amount at the time of renewal.
• Profit Allocation: Allocates undistributed profit among members based on contribution ratio.
• Loan Assessment: Assesses eligible loan amount for members as per the loan disbursement policy.
• Loan Adjustment: Provides installment information to Kormee during the salary process.

Final Settlement:

• Policy Flexibility: Customize final settlement policies based on service length and separation cause.
• Automated Calculation: The system calculates the payable amount to members accurately and in a timely.

Transform your Provident Fund management with our advanced solution. Contact us for a demo and witness the future of PF Trust administration.