HR Software That Supports Both PVD and EWF 

HR software that supports multiple fund calculations stores each employee’s fund conditions, including fund type, fund start date, employee contribution rate, employer contribution rate, and previous accumulated balances. It then automatically calculates deductions together with the payroll cycle. HumanSoft supports Provident Fund (PVD), Employee Welfare Fund (EWF), and company-defined funds based on organizational conditions in one system, together with reports and historical records for verification.

 

In organizations with many employees, each person may have different fund conditions. Some employees are members of aProvident Fund while others are covered by theEmployee Welfare Fund Their employee contribution rates, employer contribution rates, or carried-forward balances may also differ. Keeping these conditions in one system connected topayroll calculation helps reduce the need to review data across multiple files and lowers the risk of calculation errors.

 

Why Is Fund Management More Difficult in Organizations with Many Employees?

When an organization has many employees and each person has different fund conditions—for example, some have just joined a fund, some have accumulated balances from previous payroll periods, and some use different employee and employer contribution rates—HR must check more than just whether “the fund deduction has been made.” HR also needs to review several other points, such as:

 

• Which type of fund the employee belongs to

• When the employee joined the fund

• Which conditions are used to calculate the employee contribution

• How much the company contribution should be

• Whether previous accumulated balances have been carried forward

• Whether the amount calculated in the payroll period is correct

• Whether the recorded information matches each employee

 

If fund data is managed using Excel multiple files or is recorded separately from the payroll system, the more employees there are, the more data points HR has to review. If an error is found after payroll has already been calculated, HR may need to go back, correct the data, and calculate payroll again.

 

How Does Managing Multiple Funds and Conditions in One System Help HR?

Keeping all funds in one system helps HR in four main ways: reducing separate files, reducing repeated calculations, lowering the risk created by different conditions, and making historical checks easier. 

 

Reduce Separate Files for Each Fund

When an organization has multiple employee groups, HR may need to separate files by fund type, rate, or employee condition. Keeping the information in one system helps reduce data fragmentation across multiple sources.

 

Reduce Repeated Calculations

When fund conditions are connected to payroll calculation data, HR does not need to export salary bases, calculate employee and employer contributions item by item, and then enter the results back into the system.

 

Reduce Risks from Different Fund Conditions

Having many employees does not mean the same formula applies to everyone. Setting conditions at the individual employee level helps HR manage these differences more systematically.

 

Make Historical Checks Easier

When questions arise about fund amounts, HR can review fund information and historical records directly in the system.

 

What Should HR Software That Supports Multiple Fund Types Be Able to Do?

Key functions should include:

 

Function	How It Helps HR
Manage Employee Funds	Support different conditions for each employee
Set Employee and Employer Contributions	Reduce manual calculations and data entry
Support Previous Accumulated Balances	Keep fund information continuous from previous balances
Connect with Payroll Calculation	Apply fund calculation conditions together with the payroll cycle
Support Multiple Funds	Manage PVD, EWF, and company funds at the same time
Create Funds Based on Company Conditions	Add organization-defined funds and set rates according to company policy
Review Fund History	Allow HR to review past information and verify accuracy
Fund Reports	Summarize employee and employer contributions for verification

*Information as of September 2026

 

Which Types of Fund Calculations Does HumanSoft Support?

HumanSoft currently supports key funds that HR needs to manage alongside employee and payroll data, including Provident Fund (PVD), Employee Welfare Fund (EWF), and company-defined funds whose conditions can be configured by the organization (information as of September 2026).

 

 

1. Provident Fund (PVD)

A Provident Fund is a voluntary fund jointly established by employers and employees to promote long-term employee savings. The fund consists of employee contributions and employer contributions.

HumanSoft HR software helps manage Provident Funds as follows:

 

• Manage fund information for each employee

• Set employee and employer contribution conditions

• Record previous accumulated balances

• Use fund information in payroll calculations

• Review fund information and historical records

• View fund reports for amount verification

 

2. Employee Welfare Fund (EWF)

The Employee Welfare Fund is a fund under the Labor Protection Act B.E. 2541 (1998), to which employers and employees jointly make contributions. It is intended to provide financial protection for employees when they leave employment, die, or in other cases specified by law (see the rates and effective date) 

 

HumanSoft HR software includes support for the Employee Welfare Fund, covering fund setup, employee data management, data import, and related reports. Importantly, the system can manage Provident Fund and Employee Welfare Fund information in one place, so organizations with different employee groups do not need to separate all fund data into different processes. 

 

3. Other Funds Based on Company Conditions

Company funds are funds established by the organization in addition to statutory funds, such as company funds, employee welfare funds, or employee savings funds. HumanSoft allows organizations to add these types of funds and configure their conditions according to company policy, including:

 

• Set the fund name and code

• Set employee contribution and company contribution rates

• Assign fund membership at the individual employee level

• Deduct fund amounts together with the payroll cycle and view reports in the same way as other funds

 

The system can manage all three fund groups in one place, so organizations with multiple employee groups do not need to handle each fund through a separate process. For organizations with hundreds of employees or multiple fund conditions, using HR and payroll software that combines employee, payroll, and fund data can make verification easier. Try HumanSoft Free for 30 Days

 

FAQ: Frequently Asked Questions About HR Software That Supports Fund Calculations

Q: Can user permissions be configured for managing fund information?

A: Yes. HumanSoft allows access and fund-management permissions to be configured according to user roles defined by the organization, so each role can access information as appropriate.

 

Q: Can employees check their own fund information?

A: HumanSoft provides a fund menu on LINE OA and the HumanSoft app (the employee app), allowing employees to review deduction details and their own accumulated fund information. 

 

Q: Does the Employee Welfare Fund replace Social Security?

A: No. The Employee Welfare Fund and Social Security are separate systems with different purposes, conditions, and benefits. 

 

Q: If a company already has a Provident Fund, does it still need to contribute to the Employee Welfare Fund?

A: If a Provident Fund (PVD) is already in place, contributions to the Employee Welfare Fund are exempt only for employees who are already members of that Provident Fund.

 

Q: What information should be prepared before setting up a fund in HR software?

A: Prepare employee information, the fund code or name, fund start date, deduction method, employee contribution rate, company contribution rate, and any existing fund data that needs to be imported. This helps ensure that setup and verification are complete from the beginning.

 

Q: Can a company create its own fund in the HR software?

A: Yes. HumanSoft allows organizations to add company funds in addition to PVD and EWF. Employee contribution rates, employer contribution rates, and fund members can be configured according to company conditions, and the system automatically calculates deductions together with the payroll cycle.

 

Read More Related Articles

• HumanSoft Now Supports the Employee Welfare Fund (EWF): Manage All Information in One System 
• If You Already Have a Provident Fund, Do You Need to Join the EWF? 
• Example Announcement for Employee Welfare Fund Contributions 
• Latest Update: When Does the Employee Welfare Fund Start and How Is It Calculated?