Introduction
Several large government organizations and public sector undertakings offer Terminal Benefits to their employees. These include Provident Fund, Gratuity, Pension, etc. These benefits depend on monthly basic pay, years of service put in by the employee and the amount set-off by the organisation towards its contribution.

This product is a comprehensive solution to automate the operations of Provident Fund, Gratuity, Pension Trusts, NRW, Investments and Accounting. The entire guidelines of the PF trust and the Pension trust have been incorporated. The solution takes care of the investments done by these trusts and the entire day-to-day accounting.

Main Functionality
Receiving Credit from other units - Monthly
Accounting for total credit and individual credit for staff
Accounting for Pension apportionment
Periodic Interest Calculation/Credit -Monthly/Quarterly/Half yearly/Yearly
Periodic Statement of Accounts
Non Refundable Loans from PF Account
Advance Query - to the outlying units advance regarding retiring employees
Planned fund flow through advance forecasting
PF Claims and Settlements
Gratuity Calculation, Claims and Settlements
Pension Calculation and Accounting including D.A. index and Arrears computing
Family Pension Calculation and Accounting
Pension Scroll Preparation
Settlements on account of VRS
Centralised Database
MIS reports, General Reports and Queries
Audit Trails and Security Features
PF fund investment tracking module
Accounting module

Accounting systems for the Terminal Benefits Department
Perform the basic and most important function of maintaining books of accounts such as Cash Book, Bank book, Journal Book, Investment Registers etc all culminating into the drawing of Trial Balance, Income and Expenditure Account and Balance-sheet as per the statutory PF requirements.

* This module may be customized for including the accounting system for payroll as well.

Investment management
Record investment details for new issue applications; secondly market investments and liquidations. Automatic interest and ex-interest transactions. Regulations of investments to ensure that they are as per prescribed statutory pattern. Automatic computation of gain/loss on sale of security and comparison between interest accrues and received.

Yield Comparision
Facilitates current yield computations based on market price entries
Availability of YTM computation module optionally.

Reports
Income & Expenditure Account
Balance-Sheet
Member’s statements
Fund flow analysis
Statutory Forms & Returns
MIS reports

Miscellaneous
Automatic reconciliation of bank accounts
Automatic transfer of expenses to company account
Automatic computation of interest on S.D.A accounts
Reminders on interest due-dates, maturity due-dates, call and put dates
Maintenance of fund related past employment history, nominations etc
Query builders for employee contributions
Exception reports for contribution not received
Exception reports for loan installments not received