Payroll Management (Power Pay)
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
- 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.