Payroll Processing

Payroll Processing

Monthly Payroll Services
  1. Calculation and generation of payroll on monthly basis, optionally it can be done either on Weekly or Fortnightly pay cycles
  2. Preparation of Salary sheets for pay-outs
  3. Effecting electronic payment transfers to each employees bank Accounting
  4. Generation and providing Payslip to employees individually through email
Statutory Obligation
  1. Labour Law compliances towards Employees Pension and Other Funds
  2. Preparing payment challans and effecting electronic payments to various Statutory Authorities
  3. Preparation and submissions of monthly, quarterly, year end forms to statutory authorities like Indian IncomeTax (Revenue) Department for TDS on Salary (Withholding Tax) and State Profession (Employment) Tax, if applicable
  4. Generation of year end TDS (Tax credit) certificates for employees as required under Income Tax Rules
Salary Design
  1. Salary Package design in lieu of Taxes and Employee benefits
  2. Generation of tax forecast for new joinees
  3. Generation of tax forecast for existing employee (twice in April and coming Feb of the financial year)
MIS reports for HR costs
  1. Department wise cost Analysis
  2. Employee wise cost Analysis
  3. Annualised cost to the company
Add-on Services
  1. Maintenance of Leave records Employee wise such as Sick/ Privilege/ Maternity and Casual leave
  2. Monitoring of Reimbursement of Employee expenses as per employment contract
  3. Preparation and submissions of monthly, quarterly, year end forms to statutory authorities like Employee's State Insurance Scheme and Provident and Pension Fund, if applicable
  4. Assisting in structuring salary break-ups in Tax efficient ways
  5. Management of staff Loan Accounts
  6. Incentive/Bonus Calculation