Mon - Fri (9.30- 6.30)

Payroll Processing

Finance & Accounts Outsourcing Services

Payroll Processing

A

Benefits experienced by our clients:

  • Accuracy and timely processing
  • Employee’s satisfaction due to faster query resolution
  • Confidentiality of Payroll information
  • End to end solution covering all the statutory compliances
  • Web based employee self service portal

 

B

Scope covered under Payroll processing

  • Preparation/Creation of Masters of employees.
  • Structuring of employee compensation for tax optimization.
  • Compilation of Investment Declaration from applicable employees (as per the tax bracket) at the beginning of Year.
  • Calculation of Tax Liability of each employee in advance and start deducting withholding tax.
  • Deduction and deposit of TDS, PF & ESI and filing of return as per the applicable laws.
  • Salary Processing on a specified date.
  • Preparation of detail for Direct Transfer to Bank a/c (as applicable).
  • Advising CPI about adequate insurance coverage for it’s employees in India.
  • Processing reimbursement claim of expense which is part of their salary i.e. Medical, LTA, Telephone/Mobile bill.
  • Handling of employees queries.
  • Final calculation of withholding tax at the year end on the basis of actual investment proof.
  • Full & Final settlement of employees leaving the Company
  • Issuance of Form 16 to each employee within the stipulated time period.

C

Transition process:

system-study

D

Our payroll solution at a glance:

payroll-processing

E

Compliances covered:

compiliance-coverd

F

How do we ensure to deliver what we commit?

deliver

G

Standard reports shared with clients

  • Monthly payroll register
  • Bank payment advise
  • Variance analysis
  • Accounting entry for expense and payment
  • Status of reimbursement claimed related to payroll

H

Our sample SLA’s (Service Level Agreements):

  • Payroll processing: 2-3 working days from the date of providing complete info
  • MIS: 2-3 working days from date of sending Bank Advise
  • Query response: within one working day