Payroll Management (Power Pay)

Payroll Outsourcing, Payroll Processing Flow chart
Payroll Consultancy, Payroll Management Diagram

A few reasons to your payroll outsourcing

  • Eliminate non-value added activities and spend more time on critical and core functions.
  • Payroll processing is a time-consuming process. Outsourcing payroll can free up staff time to pursue more important value-added and revenue-generating activities.
  • Most business owners and controllers don't have time to keep up with constantly changing regulations, withholding rates, and government forms. By outsourcing payroll, a small business can take advantage of expertise that was previously available only to big companies.
  • Using an outside service provider eliminates the business from risk of employee turnover.
  • To ensure that payments, TDS filings and other functions are completed correctly and on time.
  • To avail the services of the experts in the field.
  • To minimise cost

Payroll Outsourcing Services

  • Collect, create, process and generate data of all the defined frequencies (daily, weekly, monthly) and defined pay types (overtime, shift allowance, holiday payment)
  • Manage new joiners and leavers data and their respective master records.
  • Furnish standard reports plus any agreed customised reports
  • Provide Individual Payslips and Bank transfer statements
  • Provide Form-16 data for preparing tax returns
  • Help in filing various returns and compliance matters
  • File on-line all relevant year-end returns if needed
  • Generate the below reports
  • Monthly Pay slips
  • Bank wise payment statement
  • Provident Fund
  • ESIC
  • TDS as per Income Tax Act
  • State wise Profession Tax
  • Employee wise variance analysis report
  • Leave tracking
  • Advances management and tracking
  • Any other reports as desired.