Branch-wise reporting, portfolio-linked incentive (25% of basic), disbursement target bonus, field / travel allowance, designation hierarchy from Tellers up to Branch Manager. For MFIs, gold-loan NBFCs, vehicle finance and lending NBFCs.
Each row is a pain point we've heard from operators in this vertical — and the specific FastLegal Payroll feature that addresses it.
ProblemBranch-wise P&L reporting is manual — finance copies numbers from each branch's HR file every month.
FastLegal solvesPayroll runs are branch-scoped. Filter by branch on every report (payslips, PF ECR, ESI return). Per-branch totals roll up automatically into a workspace summary.
ProblemLoan officers earn portfolio-linked incentive (% of disbursements they originate) but it's calculated quarterly in Excel.
FastLegal solvesPortfolio-linked Incentive is a built-in salary component (25% of basic default). Admin enters per-employee amount each quarter from the LMS report; engine adds it to the payslip as a taxable earning.
ProblemCollections team gets a disbursement / collection target bonus — paid in cash, never on a payslip.
FastLegal solvesDisbursement Target Bonus is a built-in bonus type (₹10,000 default), payable quarterly. Recorded on the payslip, taxable, audit-logged.
ProblemField officers travel daily — accountants don't know which travel is reimbursable vs taxable.
FastLegal solvesField / Travel Allowance is a built-in non-taxable reimbursement (₹3,000/mo default). Per Section 10(14)(i) of ITA, conveyance for performance of duties is exempt up to actuals.
ProblemRBI Fit & Proper certification for directors / key managerial personnel handled outside payroll.
FastLegal solvesIndustry profile pre-loads 9 designations across Operations (Credit, Collections, Underwriting, Risk), Support (Compliance, Operations, IT), Field (Branch Banking, Sales / BD). Document Templates module handles board-level certifications.
Problem9:30-18:30 branch banking hours need an attendance pattern; head office runs flexi.
FastLegal solvesBranch Hours shift template pre-loaded (09:30-18:30, 45min lunch). Branch staff assigned via roster; head office staff stay free of shift assignment.
Every payroll-related artifact is filterable by branch. Run payroll for a single branch or for the whole workspace; statutory files (PF ECR, ESI return, bank file) can be exported per-branch for branch-specific PF / ESI codes.
Two revenue-linked components every lending NBFC pays. FastLegal models them as standard payroll items so they show up on payslips, get taxed correctly, and feed into Form 16.
9 departments split Operations (Credit, Collections, Underwriting, Risk) + Field (Branch Banking, Sales) + Support (Compliance, Ops, IT). 8 designations: Branch Manager, Relationship Manager, Credit Manager, Underwriter, Collections Officer, Field Officer, Compliance Officer, Risk Analyst.
FastLegal Payroll references each of these frameworks correctly in its payslips, PDFs and statutory exports.
NBFC governance, fit & proper for directors, risk management framework.
Section 392 salary TDS, Section 393 contractor / vendor TDS from FY 2026-27.
Basic + DA ≥ 50% of CTC. Auto-enforced on the NBFC salary structure.
Mandatory for 20+ staff. Every NBFC branch network easily crosses this.
26 weeks paid maternity. Especially relevant for the typically female-skewed banking sector.
Yes. Branch is a first-class entity in the data model. Every employee is assigned to a branch; payroll runs can be scoped to one branch or to the whole workspace; statutory files (PF ECR, ESI return, bank file) can be exported per-branch. We've tested with 100-branch workspaces; performance is fine.
Portfolio-linked Incentive is a salary component pre-set at 25% of basic. Each quarter, your loan management system tells you each officer's portfolio performance. You enter the calculated incentive amount per officer; FastLegal adds it as a taxable earning on the payslip and annualises it for TDS.
Disbursement Target Bonus is a built-in Bonus Type (₹10,000 default, quarterly). Create a Bonus Grant on the officer when targets are hit. Engine adds it to the payslip as a taxable line item. Reason field captures which quarter / target. Audit-logged with the originating supervisor.
No — Field / Travel Allowance is pre-loaded as a non-taxable reimbursement (₹3,000/mo default). Per Section 10(14)(i) of the Income-tax Act, conveyance allowance for performance of duties is exempt up to actuals incurred. Make sure your expense policy keeps documentation.
Partially. The Document Templates module supports board-level certifications and director declarations as custom templates. Versioned, signed, audit-logged. The full Fit & Proper process (peer references, regulator approval letters) is outside payroll software — but the document trail FastLegal generates is what auditors typically ask for.
Create a workspace, bootstrap the standard Indian defaults (leave types, salary structure, holidays for two years), add your first employee, and run May payroll — all before your evening chai.