Payroll Services are one of the integrated process of Human Resource Planning. Correct Payroll services ensures accurate statutory compliance.
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CA/CS Assisted | 4.8/5 Rating
CA/CS Assisted | 4.8/5 Rating
For every business entity employing more than 10 persons, maintenance of payroll function is mandatory in order to analyse the financial position at a given point of time or after certain regular intervals, and also serve the purpose of various types of return complying with related labour laws and enactments. Maintenance of payroll function is the matter of expert knowledge because considering the frequent changes in law and frequent revision in minimum wage rate etc, the payroll function also needs to adapt and maintain the accounting entries in accordance with law. Maintenance of payroll function serves as documentary evidence which may be required at the time of labour law scrutiny cases or in the matter of resolution between employer and employee related to contractual agreement agreed and paid. We at ReturnFilings.Com are team of qualified professionals, equipped with latest payroll software packages and various payrolls return filings software. We ensure that our clients receive best services to support their business requirement. Reasons of outsourcing Payroll Services • Security & Confidentiality: At every business organisation, the employee related data and its pay structure are kept at top most security level, however this security may be breached and employees may be able to gain access to payroll structure of entire organisation. In order to maintain security & confidentiality, most business organisation outsources their payroll services. • Compliance with latest laws and regulations: Due to frequent changes in labour law and also frequent changes in minimum wage rate, also the minimum wage rate vary from state to state, most business organisation outsource their payroll services to met with updated compliances. • Cost Effectiveness: It will save the cost on employing full time HR Employee and maintaining infrastructure such as computer and software packages for PF/ESI filing. • Scalability and presence in multiple locations: There are numerous business entities which are having presence in multiple locations spread geographically through-out the India, in such cases maintenance and collection of payroll data at centralised location may become tedious. For the easiness, complete payroll function is outsourced and now it becomes our responsibility to call for data and maintain centralised payroll function. We provide complete payroll outsourcing solution customizable as per user requirements, including statutory return filings that reduces processing costs with a streamlined and consistent execution of your payroll, statutory and compliance needs. • Calculate and process the payroll based on updated law requirements • Calculate and process the monthly payroll of all employees by considering payable days, casual leave, medical leave, leave encashment days etc as per the policy of the company. • Obtaining, maintaining and processing the investment declaration records of the employees, also consider providing the benefit of investment declaration as per the applicable laws. • Obtaining, maintaining and processing the reimbursement claims of the employees as per the policy of the company. • Monthly preparation and filing of PF / ESI Return along-with details of joining and retrenchment of employees. • Monthly computation of income tax deduction from the salary of the employees. • Quarterly filing of TDS return on salary on behalf of company. • Issuing Form-16 to the employees at the end of every financial year. • Computation and providing data on full and final settlement of the employees in case of retrenchment • Computation and maintaining data on Gratuity provision and leave encashment provisions of the company. We at ReturnFilings.Com will understand the purpose of outsourcing your payroll services function and thereafter will provide you specialised services using updated accounting software and other software for return filings. Outsourcing of payroll services function to us will turn out to be economically and efficiently for your business. We at ReturnFilings.Com will provide you details of regulatory filings in order to ensure proper smooth and timely compliances. We at ReturnFilings.Com are determinate to provide end to end solution; our motto is you concentrate on your business while we at ReturnFilings.Com will take care of all your payroll function and other compliances need.