RazorpayX, Zaggle to allow employees to save up to 40,000 in taxes

Bengaluru: RazorpayX, the neo-banking arm of fintech platform Razorpay, on Thursday partnered with B2B software-as-a-service (SaaS) platform Zaggle to enable employees to save up to Rs 40,000 more in taxes while adhering to GST guidelines the income.

The flexible benefits program will allow businesses to manage all tax benefits and employee benefits on one dashboard, automating the entire process in a seamless manner.

RazorpayX Payroll offers a fully automated three-click payroll solution with built-in compliance.

“Now we’re taking it a notch higher by elevating the employee experience through our partnership with Zaggle,” said Shashank Mehta, vice president and head of RazorpayX.

“Within this partnership, we guarantee 7x faster claims processing, as well as a 96 percent reduction in required documentation.” With it, businesses can increase the productivity of their employees by over 50 percent, freeing them from a manual process that would otherwise take hours of time,” Mehta added.

With the integration, the flexible benefits program is now available to companies of all sizes.

The employee tax benefits are in tandem with Zaggle’s Zinger Multi Wallet Card, which covers benefits like gas, food, communication and more all within one card.

“This one-of-a-kind integration will enable employees to save up to Rs 40,000 more in taxes while adhering to income tax guidelines. In addition, the card can be configured with different wallets, providing flexibility in customizing solutions for businesses,” the company said.

“We are expanding our range of products and constantly introducing innovative solutions. Through this partnership, the two teams will work closely together to improve the overall performance of organizations,” said Avinash Godhindi, MD and CEO, Zaggle.

RazorpayX currently serves over 30,000 businesses and has processed UPI transactions of over 20 percent of all UPI registered users in the country in the last year.

The platform has paid out payouts with an annual cash flow of over $30 billion.

Meanwhile, RazorpayX has over 30,000 businesses on its platform.

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