What should I know about the updated ICICI Direct Deposit process, including the transition to bulk payment and RBI compliance?

Whether you’re a long-time user or making a payment using the ICICI Direct Deposit for the first time, it’s important to understand what’s happening.

What’s Changed?

ICICI Bank has moved from processing payroll payments individually to a bulk payment mechanism, in compliance with RBI regulations.

Old Process:

• Each employee’s salary was processed as an individual transaction.
• The same OTP (One-Time Password) could be reused for multiple transactions.
• Your bank statement showed individual line items for each payment.

New Process:

• All employee salaries are processed together as a single bulk transaction.
• Multiple OTPs may be used to process the entire payroll payment.
• Your bank statement now reflects a single consolidated line item for the total payroll amount.

Batch Processing

To ensure compliance with the new process, Zoho Payroll has introduced the batch processing method:

• Payments are now split into batches of 100 employees. An OTP authentication will be required for each batch.
• Once one batch is completed, the payments for the subsequent batch can be initiated until all employees are paid.

For example, suppose your organization has 250 employees. Since Zoho Payroll processes payroll in batches of up to 100 employees, the payroll will be divided into three batches: two batches with 100 employees each and one batch with 50 employees. You will need an OTP to process each of these three batches.

Here’s how you can process payments based on the new payment processing method:

1. Go to the Pay Runs module.
2. Click Create Pay Run.
3. Once you’ve added all the inputs, click the Submit and Approve button in the top-right corner of the page.
4. Choose Initiate Payment.
5. Select the Pay in batches of 100 option.
6. Enter the OTP you’ve received.
7. Click Initiate Batch Payment.

Ensuring Successful Salary Payments with ICICI Integration

We’re here to help you troubleshoot and resolve any issues you might face while transferring salary payments. Let’s address some common scenarios:

Q: What should I do if I encounter an error about bulk payment functionality?

If you see an error indicating that the bulk payment functionality isn’t enabled, it means this feature needs to be activated by ICICI for your organization. Here’s what you can do:

Here’s how to resolve it:

• Contact your ICICI Relationship Manager (RM), or
• Send an email to corporatecare@icicibank.com requesting to enable the bulk payment feature.

Once the bulk payment functionality is enabled, you should be able to process payroll payments without issues.

Q: Why am I seeing a transaction limit error?

This error occurs when the total salary amount exceeds the per-transaction limit set on your ICICI Bank account.

Here’s how to resolve it:

• Check the per-transaction limit on your account.
• Bulk payroll payments are processed as a single transaction, so the total salary amount for all employees must fall within this limit.

Contact your ICICI RM or email corporatecare@icicibank.com to request an increase in the transaction limit, if necessary.

Q: How can I fix an Alias ID/Login ID mismatch error?

The Alias ID mismatch error typically happens when the Alias ID entered in Zoho Payroll doesn’t match your organization’s ICICI login ID.

Here’s how to resolve it:

• Go to Settings and navigate to the Direct Deposit section.
• Click View Details in the ICICI Bank section.
• Update the CIB Portal ID by clicking the Edit icon, then click Save.

If you continue to face issues, it might be technical. For such cases, contact support@zohopayroll.com for further guidance.