Monthly Payroll process

What is Payroll?

  • Payroll starts from hiring employees to exit employees
  • The whole process of recording the events including recruitment, monthly pay process &  full & final settlement in Exit involving the financial aspect is called as Payroll Process
  • The better you manage the process, the better you manage the employees.
  • The designed process should submit accurate information & reports at appropriate stages of time to different Payroll Stakeholders

Payroll Stakeholders

  • There are five Payroll stakeholders in general
  • Employees
  • Management
  • State Government
  • Central Government
  • Audit authorities

Role & Requirements

Each stakeholder needs definitive information at different stage of payroll process. The Payroll system should be able to generate such information with accuracy & appropriateness.

Payroll Stakeholder Role Requirements
Employees Individual Individual Pay-related information like Payslips, Tax slips, Investment Declarations, F&F Statements & Annual Salary statements
Management Decision Making Variance Analysis, Cost to the company & any employee related information based on the requirement

State Government

– Professional tax

Collecting taxes Salary statement with detailed breakup effecting the calculation of taxes

Central Government

– TDS, PF & ESI

Collecting Taxes Salary statement with detailed breakup effecting the calculation of taxes
Audit Authorities Audit of Financials Payroll related statements effecting the Financial statements with respect to recognition, treatment & disclosures

Problems Faced

  • Lack of information flow between different stakeholders, thereby resulting in defaults & penalties to the company.
  • Lack of confidentiality of salary package of different high & low level employees.
  • Lack of generation of payslips & employee related reports in a timely manner.
  • Lack of current & relevant knowledge of statutory laws related to Payroll.
  • Lack of Employee query addressal system.
  • Lack of competent Payroll in-house manager

Our Services

Our Services Includes:

  • A.Structuring of Salaries of all the employees including directors & Expats if any.
  • B.Generation of Pay slips & Tax slips every month.
  • C.Bank wise payment sheet with employee name and account number as per the Banker format.
  • D.Income Tax reports and its statutory requirements like.
    1)Real time calculation of TDS.
    2)Filling of E-TDS Return for every quarter before due date (Form No.24Q),
    3)Maintaining the file for each employee for Chapter VI-A & other deduction proof
    4)Generation of Form 16 (Part A & Part B along with relevant annexures) at the year end.
  • E.Computation & Monthly Filing of Provident Fund & ESIC benefit fund as per the applicable statutes
  • F.Computation & Monthly Filing of Professional tax as per applicable slabs.
  • G.Individual Employees Login IDs for uploading of Investment Declarations and Pay slips.

Pricing

Payroll & Related Services Pricing – inclusive of all costs & taxes
– If Employee count is less than 20

INR 7,000/-

(PER MONTH)

– If Employee count is between 20 & 50

INR 7,000/- + INR 100 per employee in excess of 20.

(PER MONTH)

– If Employee count is more than 50

INR 10,000/- + INR 100 per employee in excess of 50.

(PER MONTH)

Payroll Implementation charges (applicable only if employees are more than 20)

INR 5, 000/-

(ONE TIME ONLY)

For more detailed quote please fill the details here GET QUOTE

Why us ?

PROBLEMS FACED OUR SOLUTION
Defaults in compliance & monetary consequences Being in the Industry for 10+ years we understand in and out of payroll process, which made our processes improve & perfect over time
Mistakes & delays in the process Being able to retain the best of software & resources we are able to provide the payroll services in timely & accurate basis.
High & unnecessary costs involved in a in-house payroll system Being able to understand the practical problems of Payroll industry, we were able to strike the right chord with respect to pricing of our services in a competitive and customer friendly basis. We always work along the budgets of the clients.