Employer payout to fund system

Employer payouts to provident funds is a process requiring employer resources.  In ensuring controlled, effective payouts, Malam Payroll structured a provident and pension payments system that allows every employer to set its needs, and execute secure computerized monthly payments and reports to funds and beneficiaries.

The system is adapted to the various regulations and updates in accordance with employer and regulatory needs.

Malam Payroll’s advanced system makes it easy for employers to execute monthly fund payments.  The funds, on the other hand, receive computerized deposit data.  The system is unique and enables employers to manage and control a centralized process of pension deposit transfers to institutions.

Among the system’s advantages are:

• Structured, documented, controlled processes for managing deductions, allocations and transfer of monies to all institutions in Israel.
• Logical audit mechanism to verify the validity and integrity of calculated data in the payroll system, including adaptation to allocations based on Regulation 19.
• Full support for historical documentation and management of data and processes.
• Full support of deduction data corrections and / or changes at the pre-payout stage, geared at identifying and correcting errors to salary deductions calculations.
• Full support of data mining and distribution relative to payment transfers.
• Computerized documented audit processes.