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
- There are five Payroll stakeholders in general
- 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.
|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|
– Professional tax
|Collecting taxes||Salary statement with detailed breakup effecting the calculation of taxes|
– 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|
- 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 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.
|Payroll & Related Services||Pricing – inclusive of all costs & taxes|
|– If Employee count is less than 20||
|– If Employee count is between 20 & 50||
INR 7,000/- + INR 100 per employee in excess of 20.
|– If Employee count is more than 50||
INR 10,000/- + INR 100 per employee in excess of 50.
|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.|