Payroll Automation

Abstract

Summer Internship Program (SIP) was a eight-week long programme which I was required to undergo as an MBA-HRM student. I completed my internship with Bajaj Finance Limited – Auto Finance. The tenure of the internship was from 3rd May 2021 to 30th June 2021. Bajaj Finance Limited-AF comes under the BFSI sector as it is a Non-Banking Financial Corporation. The BFSI sector covers the banking, financial services and insurance sector. The BFSI sector in India is valued at Rs 81 trillion. The objective of the internship was to create an awareness of how HRM processes are carried out in the organisations and to be able to connect the ongoing processes with classroom learning. My project during the internship was “Payroll Automation – Full and Final Payment”. In the beginning of the internship, I focussed on understanding the project and the older payroll process. After understanding the older process, I designed a new process for the system. The new process was capable of reducing the monthly process life cycle by at least 10 days and required less manpower also. After designing the overall process, I worked on its specific parts like leave calculation, taxation and generation of payroll reports. Learning outcomes of the internship are that I could understand the payroll process and procedure of full and final payment. I could also learn what are process documents and business requirement documents and their importance. I also got the opportunity to learn about the ZingHR HRMS. Most importantly, I learned about leave management, which is quite tricky, and various kinds of reports that are generated in the payroll process and their importance.