Calculate incentive-based pay for relationship managers and loan officers, monitor RBI requirements for deferral and clawback/malus on senior management incentive pay, pay professional tax correctly at numerous branches, and ensure audit-ready maker-checker documents, all without a compliance team retracing steps each time for audits.
An NBFC with 200 branches, a sales force paid on disbursement targets, and senior management variable pay subject to RBI deferral rules faces payroll complexity that general-purpose software was never designed to handle.
Relationship managers, loan officers, and insurance agents get their pay based on targets achieved through disbursements/policies issued. Doing this manually by hand for hundreds of branches will be cumbersome.
Whole-time directors, CEOs, and material risk takers require a minimum portion of variable pay deferred over multiple years, with malus and clawback provisions. Most payroll software has no concept of multi-year deferred compensation.
A bank or NBFC with branches in 15+ states carries 15+ different Professional Tax slabs, rules, and filing frequencies - all of which must be tracked correctly, branch by branch.
Many BFSI organisations run their own exempted PF Trust instead of EPFO. This requires trust-specific interest declarations, monthly filings, and EPFO oversight - on top of standard payroll processing.
Inspections done by the RBI or IRDAI require an audit trail for each payroll action done. This can only be done through automated processes.
Structured probations in banking come with changes in grades and salaries upon confirmation. Each of these is an off-cycle revision that requires accurate TDS calculations.
Banks, NBFCs, and insurance companies run several distinct workforce categories at once - each with different pay structures and different regulatory obligations. TankhaPay is built to handle all of them from one login.
CTC-based Salary, PF at Basic, TDS per Applicable Regime, and Gratuity Provisioning - calculations accurate for each branch and grade.
Full PF + TDS + GratuityCommission/Incentive Component based on payment, AUM generation, or policy sales – calculation done along with basic salary calculation.
Incentive-Linked PayVariable pay subject to RBI-mandated deferral, with malus and clawback provisions tracked against each deferred tranche over the holding period.
Deferral + Malus/ClawbackDSA (Loan) & insurance brokers operate on a commission-based arrangement, which is taxed separately from payroll salaries.
Commission-Based Tax TrackA structured approach to the probation period, culminating in the finalization of the salary grade.
Probation-to-Confirmation WorkflowBack-office, operations, and support roles run through third-party arrangements, tracked separately with the correct compliance trail.
Outsourced Workforce TrackingRunning payroll for a regulated financial institution means handling incentive pay, deferred compensation, and a multi-branch network all in the same cycle, with a trail that holds up to inspection. Here is how TankhaPay simplifies every step.
Bring your permanent employees, sales team, senior management, and contractors in all branches under one roof. Real-time monitoring of PT registration, grading, and deferred payment schedule branch-wise.
TankhaPay computes incentive pay from disbursement or sales data and tracks deferred variable pay tranches for senior management against the deferral schedule your compensation policy specifies, with malus and clawback flags maintained automatically.
All mandatory deductions have been done with absolute accuracy – PF has been adjusted against EPFO or your exempted PF trust, TDS has been paid under the relevant system, and PT has been applied with accuracy in each branch state.
The payroll is now approved, and the salaries have been disbursed into their respective bank accounts within every branch. Payslips and tax documents are automatically created instantly within the TankhaPay employee app without the need for any separate filing process.
CMMI Level 5 is a certification held by fewer than 1% of Indian tech companies. It means the quality standard your incentive and compliance filings are processed under is the same standard trusted by the Government of India.
None of the competing payroll software solutions in India have this certification. The moment your auditors or RBI inspectors ask who manages your payroll, this line takes the cake.
We have processed payroll through every significant Indian regulatory change since 1998. RBI's evolving compensation guidelines are not a new challenge for us.
Maker-checker workflows and immutable logs on every payroll action - built for the scrutiny banks, NBFCs, and insurers face from the RBI and IRDAI.
Run it in-house at 100 branches. When you cross 500 and need a dedicated payroll team, switch to managed services on the same platform - no migration, no data loss.
From incentive computation to RBI deferral tracking, every BFSI-specific requirement is handled by the system, with a trail that holds up to inspection.
Disbursement-linked, policy-linked, or portfolio-linked incentive structures for relationship managers, loan officers, and sales staff - computed alongside fixed pay in the same payroll run, across any number of branches.
Deferral of variable remuneration for full-time directors, CEO, and material risk takers is tracked by TankhaPay depending on the holding period from your compensation policy; malus and clawback tagging information is attached to each tranche.
Each branch is assigned the state’s PT slab and filing period. The PT slab for each branch will be applied automatically by TankhaPay depending upon the state to which each branch belongs.
Maker-checker validation for all payroll processing, with an immutable audit trail for who validated what and when. When the RBI/IRDAI audit requests a paper trail, they get one that's already available, not a paper trail created out of emails.
Where your organisation is running its own exempted PF Trust instead of depositing into EPFO, TankhaPay helps to reconcile the deductions made from your salary to match the trust, assisting in filing and declaration of interest.
Four steps. No manual incentive calculation. No spreadsheet for deferred compensation. No scramble before the next inspection.
Employee, branch, and deferred compensation data syncs automatically across confirmed staff, sales force, and senior management.
Zero data entry effortIncentive pay, deferred variable pay, PF, TDS, and multi-branch PT calculations run automatically with current statutory rates.
Per employee, per branch, per cycleFinance prepares and a second approver reviews via maker-checker. Anomalies flagged before disbursal - not discovered at audit.
Logged at every stepSalaries credited across every branch. PF, PT, TDS - all filed. Audit trail exportable on demand. Done before the deadline.
Full compliance in one clickBuilt for India's regulated financial sector - not general-purpose payroll software with a BFSI label added to the header.
Disbursement, policy sales, and portfolio-linked incentive structures computed inside the regular payroll cycle.
Deferred variable pay tranches tracked natively for WTDs, CEOs, and material risk takers, against your compensation policy.
PT applied per branch's registered state automatically, across networks of any size.
Payroll deductions of the month compared to the PF Trust framework, which is excluded from the usual EPFO framework.
Every payroll action requires a second approval, logged with a full, immutable audit trail.
A revised salary and grade on confirmation are done as a mid-cycle adjustment, with automatic TDS calculation.
Payslip, Form 16, and incentive letters through the mobile app at all branches.
Data security and audit logs for all payroll records, as per regulator expectations of data security.
Branch-level cost of labour in real time, incentives outlay, and employee count – dashboards for the CFO, not an extract from the month-end report.
Updated for RBI compensation guidelines, IRDAI norms, and PT notifications - before the deadline, not after the notice.
Highlighted pills are BFSI-specific compliance requirements that generic payroll tools frequently get wrong or omit entirely.
One payroll dashboard, correct PT in every branch, no manual lookup table.
Insights on how to run payroll efficiently in organizations that have branch networks, large sales teams, and senior managers whose salaries are under regulations.
Covers the data security, audit trail, and maker-checker requirements that are non-negotiable for banking and financial institutions.
PF, TDS, PT, and audit-readiness - every statutory obligation regulated financial institutions carry, with deadlines and filing detail.
How large, multi-location enterprises evaluate payroll partners for audit-ready documentation and statutory filing at scale.
The questions HR heads and compliance leaders at banks, NBFCs, and insurers ask before committing to a payroll system.
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