How Can Payroll Outsourcing Change the Way You Do Your Business?
Posted by remunance on March 29th, 2017
Whenever an organization thinks of a payroll department, the only thing that comes to the mind is a tedious job for which it has to dedicate a space in the office and which in return is not going to contribute anything to the core business. It’s more of a liability than an asset for a company. If such is your thought process, then it means that you are smart businessmen. In order to solve the issues, the best way is to outsource the payroll tasks to a payroll service provider in India.
Following is the broad category of services offered by a payroll outsourcing company in India:-
- Employee, payroll support service in a personalized manner
- Regular and timely processing of the employee’s salary
- Assist the company in matter related to taxes
- Multi-Dimensional support for the difficulties related to statutory compliances
Out of the various payroll service providers in India, there are only a handful of them that are genuine and have a good track record. Now consider a situation where you have hired a payroll outsourcing company in India for managing your payroll tasks. It is the first working day of the month which is also the employee salary credit date. Now because of some reasons, the payroll company failed to process the employee’s salary. The impact of hiring such an unprofessional company can lead to disasters for your business. You can simply end up losing your brilliant employees because of this. Therefore it is always advisable to hire a payroll outsourcing company in India that has a good track record like Remunance System Pvt. Ltd.
Following is a detailed list of tasks that a payroll outsourcing company handles:-
- An end to end management of the various payroll tasks starting right from the point of employee joining a company to his full and final settlement
- Able to handle various businesses irrespective of the niche in which they functions. Possess the required skill set to understand a business and the associated payroll functions, specific to it.
- Successfully keep track of sick leaves, vacation and paid leaves, national holidays in the system and use it while preparing the paycheck for the employee
- Effectively maintain the payroll history of each and every employee working in an organization
- Be responsible for the customizable tax tables, forms as well the calculation that goes about in the computation.
- Take the authority of maintaining all the statutory records like Provident Fund, TDS etc.
- Share the quarterly as well as year-end reports to facilitate e-filling.
- Pay the employees on a daily, weekly or monthly basis as per the business needs.
- Keep track of all the relevant statutory forms and keep it updated. Some of these forms include Form 6, Form 12, Form 16, Form 24Q, Form 24 etc. These forms need to be filled either quarterly or annually.
- Create various MIS reports for the higher management as per the need basis.
Get in touch with one such expert company like Remunance so that you can totally devote your time for your business and its expansion.
Name: Remunance System Pvt. Ltd.
Address: 11 – Erandawane Phatak Park, Off Karve Road Pune – 411004, India
Phone number: (+91-20) 25453788
Email ID: firstname.lastname@example.org