No, it is not required. Once you submit the direct deposit to process, you will be intimated with the direct deposit details along with the unique virtual account with IFSC (only for the 1st time) for your company through email.

You can now transfer the amount (as per the latest payroll you ran + direct deposit bank charges) to the account generated for you. Salaries will be credited to your employee's bank account within 24 bank working hours.

It's simple & safe !!!