Payroll is one of the many responsibilities for an employer company and is a crucial part of the business. Your business cannot do without payroll and it is not simple. Streamlined and error-free payroll processes can do more for you. It can help you unlock business insights, improve compliance and steer your business towards comprehensive human capital management. Payroll is not just about paying people, but well managed payroll processes reduce costs and mitigates compliance risk.
A satisfied Work-force is a key to successful business. We help you manage your payroll processing in a manner that would Maximize Salary pay-outs to your employees and Minimize per employee Cost to Company.
We bring specialization in the field of individual taxation, with an Indian and global perspective. This allows us to offer a comprehensive, specialized payroll service, along with focused inputs from the tax perspective. We offer a distinct package of support, enabling the Company and the employees to feel well-informed and supported at every stage of the sensitive payroll process.
Why outsource payroll?
THINK!! If your Payroll Manager exits the company without intimation near the close of the month, when you were to pay salaries to all your employees – what could be the proportion of the disaster? We can get you the solution if the payroll process is outsourced to us. We respect the sensitivity of your data and understand the timelines.
Recent trends indicate that an increasing number of companies in the Indian market outsource their payroll function. Due to its sheer sensitivity, it is a service with no room for error. As a result, effective payroll services require specialization and a clear understanding of the applicable laws.
Payroll is a specialized function. It requires knowledge of all the relevant laws that are applicable in processing the payroll of employees. We focus on the entire process from start to finish, a streamlined method is followed, reducing the risk of faults.
Every individual views his payroll information as personal data, for his eyes only. Awareness of the need for the confidentiality of payroll data has increased considerably. Outsourcing the payroll function means that only a few key people in the organization have direct access to payroll data.
Payroll management is a time-consuming activity. With this burden removed, your employees can focus on doing more productive things, and you may even be able to trim your staff's size. Companies who use payroll outsourcing services have less paperwork to do and need to only spend few hours on payroll each year. This allows a company to focus on their core business.
Payroll mistakes can be painful, angering employees and — more ominously — the government. A good payroll-services provider is far less likely to make a serious error than your in-house staff.
- Administrative convenience
Outsourcing the payroll function eliminates the need for the Company to establish an in-house process, hire a dedicated team, train staff, etc. Additionally, there is no requirement to maintain well developed in-house software. Therefore, the costs of the infrastructure necessary for operating a payroll system can be substantially reduced.
Since payroll-services providers are specialists with vast technical resources at their disposal, they can process even the most complex payrolls at lightning-fast speed.
Tax regulations are constantly changing, making errors more prolific. We offer services to file payroll taxes for your business and manage the regulatory compliances. This alleviates the issue of knowing latest tax laws, filling deadlines, deposit requirements etc.
- Tax Expertise
Many of the small business and medium businesses pay penalties each year for late or incorrect fillings and payments. With a team like ours, consisting of Chartered Accountants, Income Tax Experts and experts from other taxation department, outsourcing your payroll services could be of great advantage in order to save tax. We know all the ins and outs of payroll-related tax laws and regulatory compliances.
- Financial Reporting
We provide reports such as summaries on earning statements, payroll by departments, expenses, income tax reports, statutory reports and a host of other reports.
Savings in time and money, greater data security and the comfort of knowing experts are handling your payroll functions—these are compelling reasons to explore the benefits of outsourcing today.
Apart from the normal payroll processing, we can also represent the Company before relevant authorities such as Income Tax, Provident Fund and Professional Tax authorities, etc. with respect to payroll matters, wherever required. We, therefore, offer a dynamic, customized solution to companies in the payroll sphere.
“Go beyond Payslips and let Payroll be your business transformation catalyst”