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