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
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.
Our payroll solution at a glance:
How do we ensure to deliver what we commit?
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
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