Payroll Outsourcing
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Payroll Outsourcing
Let a payroll agency do payroll You handle employee appreciation
Businesses across the globe are becoming more and more employee-centric. Unlike the past, they are more sensitive towards the needs of their employees, as they believe employee satisfaction is their biggest strength and is an asset for the growth of their organization. Outsourcing payroll to a payroll agency is a pre-dominant step in this aspect.
Businesses have realized that in-house payroll activities consume a great amount of critical time and focus on “need of the hour” activities. As a leading third-party employee service provider and payroll management specialists, we combine a highly skilled team, who use advanced technology to ensure flawless payroll processing for your company.
We provide payroll services to small, medium and large organizations. Our payroll consulting services give you time to focus on your business and help you organize, analyse and add clarity to your core business operations.
How Does Payroll Management Work?
To bring an effective payroll management system into effect, as a payroll agency, we require certain specific documents from your end, like PAN, TAN, PF, ESI Registration, and Certificate of Registration.
We need you to set a payment schedule for the salary transfers; it can be weekly, monthly or quarterly. This will ensure that every employee gets his/her salary credit on time.
The pay is calculated by our payroll agency based on the categorization of your employees, whether they are employed as full-time, part-time, consultants or interns.
The rules that you need to establish regarding leaves, loss of pay, overtime, office hours, deductions or additions to the salary need to be communicated to us well in advance.
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FAQ's
Outsourcing payroll services essentially means engaging a third-party service provider to handle all payroll-related activities such as collecting the list of employees to be paid, tracking hours, and attendance, calculating employee’s pay, distribution of salary and recording payroll expense in an organization
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Some of the benefits of payroll are that it saves time for employers to focus on their core business needs, reduces costs incurred in managing payroll in-house, ensures error-free and on-time calculation of salary, employee information is guarded by state-of-the-art software, integrated data, meaning easy access to information, facilitation of ESS and 100% Compliance maintenance
Payroll firms often charge a straightforward package fee. This cost normally comprises online access for employers and employees, paycheck processing, basic tax filing, and direct deposit. To ascertain cost, the firm analyses the number of employees, pay frequency, the complexity of payroll tax computations, and state of residence
In-house refers to operations or activities that are performed within the company instead of handing it out to a third-party provider. Employees present within the firm perform all activities that can be outsourced, such as financing, brokering etc.
Outsourcing is the practice of hiring an outside company to perform certain work like staffing, payroll etc.
Here’s how you can outsource payroll to a third-party service provider
- Determine your payroll needs
- Determine what kind of timeline your company needs to get fully outsourced
- Get the necessary documents in order like your PAN, TAN, PF, ESI Registration, and Certificate of registration.
- Complete the onboarding process
- Have access to the ongoing payroll maintenance
Our Value Proposition
1. Engagement of a dedicated, expert team, well versed in the payroll field, to take care of all the statutory laws.
2. User-friendly web interface that has all your payroll requirements in a single place.
3. Significant cost savings can be seen, that sometimes can go up to 50%.
4. Structuring and restructuring of the payment structure to keep it updated with recent developments and demand.
5. Advice for remittance on TDS, PT, PF, ESI, obtaining investment declaration and investment proof from employees, verification of investment proof etc.
6. Generation of Form 16 and Form 24Q as needed for the purpose of tax deduction at the source.
7. Payroll processing is done on cloud-based software, giving employees access to their payslips and tax computations.
8. Dedicated managers to assist in uninterrupted payroll services for your organization.