The proof of investment (POI) feature allows employees to update the proof of investments done and makes the process of verifying proofs streamlined and smooth.

1. Proof of Investment Module
Features & Benefits

2. Proof of Investment
• Tax planning and investment declaration is done
by employees for tax exemption for the next
financial year.
• Taxable Income is computed based on this and
subsequently tax will be deducted, every month.
• Proof of investment is to be submitted by
employees to show the validity of their
investments.

3. Benefits of POI Module
• Ensures quick & hassle free verification of declared investment
against actual investment.
• Data entry mistakes are minimal as it is updated at source by
employee
• Automated email alerts on status of proof items
• Sends reminder mails to employees who have not submitted
their declaration.
• Online submission of documents reduces paper work and
transaction time.

4. Benefits - For the admin
• Option to allow employees to submit POI in a
designated time frame and negate ad-hoc submissions,
thereby streamlining processes
• Keep track of submitted and pending POIs and initiate
further communication
• Option to make remarks on rejected POI there by
leaving no ambiguity to the process.
• The Admin can reopen a submitted POI for any changes
• As all data is entered by employee at sources, data
errors and efforts get reduced.

5. Benefits - For the employee:
• Be notified by Payroll/HR department, intimating the time line for POI
submission to act on without lapses
• Employee can update the details with necessary supporting documents.
• To view and monitor the status of Proof of Investment
• As this communication happens before the final payroll processing,
employees have an opportunity to fix issues and ensure that correct tax
deductions happen

6. Process in

7. POI process
POI released
to the
employees
Employee
submits the
proofs from
ESS
POI review –
Accept/
Reject
Consider for
tax
calculation

8. Release POI
The option to release POI Declaration to employees is available under Payroll>Admin.
Release POI for selected or all employees

9. Employee submits proofs of investment
The employee receives a notification in Employee Portal about activation of POI

10. Along with filling in the IT Declaration, employee can upload the proofs

11. Proof is submitted for investments made, rents and other income

12. POI track
Process Proof of Investment (POI) submitted by employees. Go to Payroll>Admin>POI Track

13. POI review
Once processed, the declaration is considered for TDS computation
Ability to accept or reject the
applied proof with remarks

14. Reminder for submission
For employees who have not submitted their POI declaration, you can send them reminder or As
Admin, you can submit employee's IT Declaration with existing values or modify values.

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For more email us at webinar@greytip.com
or visit our Help Doc