No, it is not required. Once you submit the direct deposit to process, you will be informed of the direct deposit details along with the unique virtual account & IFSC for your company through email. Add these details under beneficiary at your internet banking portal.
You can now transfer the amount (as per the latest payroll you ran + direct deposit bank charges) to the unique virtual account generated for your company. Salaries will be credited to your employee's bank account within 24 bank working hours.
It's simple & safe !!!