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    Payroll Management

    Payroll is an important document that is used by organizations and companies to perform day to day staff management activities. A Payroll Management service refers to maintaining the financial records of the employees and complying with statutory payroll and labour laws. This includes the process of maintenance of employee financial records with respect to their salaries, wages, net pay, tax deductions, incentives and other statutory requirements like PF (Provident Fund) and ESI (Employees’ State Insurance).

     

    An effective payroll management system ensures timely payment of salaries to employees, which reflects positively on the company’s financial stability, thereby leaving no room for legal implications. Thus, maintaining a high morale within the company! A payroll management system is essential for every organization alike – startup, medium-sized or large-scale.

     

    As a business grows, it must hire more employees, which can result in increased payroll administration. The professionals at ComplianceIndia can assist you in implementing necessary controls to ensure a reliable, efficient, and effective payroll system.

    Advantages of Payroll Management

    Error Free Calculation

    Error Free Calculation

    Easy Tax filing and Reporting

    Easy Tax filing and Reporting

    Time Saving

    Time Saving

    Cost Effective

    Cost Effective

    Generation of Accurate Payslips

    Generation of Accurate Payslips

    Timely Reminders

    Timely Reminders

    Helpful in MIS Reporting

    Helpful in MIS Reporting

    Leave Management

    Leave Management

    Helps in determining Employees Compensation

    Helps in determining Employees Compensation

    Enhances Creditability and Company Reputation

    Enhances Creditability and Company Reputation

    Important factors to be covered under Payroll Management:

    – Designing of appropriate CTC Structure
    – Tax Planning for employees
    – Labour Compliances
    – TDS Deductions
    – Reimbursement Policy
    – Employment agreement
    – Leave Policy
    – Working Hours
    – Compensation terms and conditions
    – Policy on Incremental Structure and Appraisals for Employees

    How we Work?

    Step 1

    Fill-up our Contact Form and Submit

    Step 2

    Our Expert/ Legal Professional will contact you and provide brief guidance into the related context

    Step 3

    All Required Documents and Details to be provided as discussed with our Expert

    Step 4

    Once all required documents are received, Our Expert will verify your documents and start processing for payroll

    Step 5

    Generation of Payroll Report

    Packages

    Consultation Charges

    Nil

    Complete assistance by Experts or Professionals indicating Process, Documents required, Benefits, Tax compliance, Legal Compliance, etc.

    Start-up Plan

    Rs. 1,999/-

    – Upto 5 employees

    – Attendance Management

    – Leave Management

    – Payroll Processing

    – Payslips

    – TDS compliance & Filing

    – Form 16

    – Expert advice from Experts/ Legal Professionals

    Basic Plan

    Rs. 3,499/-

    – Upto 10 employees

    – Attendance Management

    – Leave Management

    – Payroll Processing

    – Payslips

    – TDS compliance & Filing

    – Form 16

    – Expert advice from Experts/ Legal Professionals

    Advance Plans

    Rs. 5,999/-

    – Upto 20 employees

    – Attendance Management

    – Leave Management

    – Payroll Processing

    – Payslips

    – TDS compliance & Filing

    – Form 16

    – Expert advice from Experts/ Legal Professionals

    Ultimate Plan

    Rs. 8,499/-

    – Upto 30 employees

    – Attendance Management

    – Leave Management

    – Payroll Processing

    – Payslips

    – TDS compliance & Filing

    – Form 16

    – Expert advice from Experts/ Legal Professionals

    Documents required for Payroll Management

    Copy of Certificate of Registration of the Entity

    Copy of Certificate of Registration of the Entity

    Copy of GST Certificate, if applicable

    Copy of GST Certificate, if applicable

    Copy of TIN Certificate

    Copy of TIN Certificate

    Challans/ Slip issued to employees

    Challans/ Slip issued to employees

    Payment schedule of all employees

    Payment schedule of all employees

    Term of Contract of all Employees

    Term of Contract of all Employees

    Terms of Compensation

    Terms of Compensation

    Certificate of TDS Deductions and Compliances

    Certificate of TDS Deductions and Compliances

    Frequently Asked Questions

    1. What does payroll management do?

    The payroll management process, in a nutshell, refers to the process of administration of a company’s employee’s financial records. This would include details of the employee’s salaries, incentives, bonuses, deductions, and net pay.

    2. What are the methods to manage payroll?

    Payroll management can be outsourced, managed on our own or through software. But it is best when outsourced as it is cost-effective and saves time and money. Not to mention, the opportunity to closely work with the payroll specialists and financial experts who are well versed on the latest tax rules and compliances.

    3. What does Payroll Processing encompass?

    Here’s a list of tasks the payroll administrator needs to accomplish during payroll processing: –
    – Develop the organisation’s pay policy that includes flexible benefits, leave encashment policy, and more
    – Define payslip components – basic and variable pay, HRA, LTA, etc.
    – Collect other payroll inputs from the transport service provider or the food/canteen vendor
    – Arrive at the net pay by calculating gross salary and deducting the statutory and non-statutory sums
    – Finally, release employee salary.
    – File returns and deposit dues such as TDS, PF, and more, with respective authorities.

    4. What are the statutory deductions?

    Statutory deductions are P IT (income tax), EPF (employee provident fund), TDS (tax deducted at source), ESI (Employees’ State Insurance) which are deducted according to the individual’s annual compensation and the state legislations.

    5. What is the difference between reimbursement and allowance?

    An allowance is a fixed sum that a company may decide to pay its employees to cover additional expenses. For example travel allowance, overtime allowance, medical allowance, etc. All financial benefits that employer offers under the head “salaries” are taxable. Certain allowances are partially or fully exempted. Reimbursements are the amounts that a company pays back to its employees who may incur business-related expenses. For instance, many companies provide medical reimbursements where employees can claim the amount by presenting appropriate bills and proof of expenditure.

    6. Is payroll a stressful job?

    Payroll deadlines can cause stress levels to rise and if a problem occurs and payments are incorrect, then the midnight oil starts to burn. Payroll is a critical function, getting it out, correctly and on time can make or break a business. The impact of a delayed or incorrect salary payment run can be significant because overpaying, underpaying or not paying employees at all will result in knock-on effects that can rock a business to its core. Hence, it is better to outsource the service with experts.

    7. How do I ensure my data remains confidential with Compliance India?

    Our payroll system is well-secured, and guarantees to protect your company data and employee information. With a robust security system in place, we do not compromise on the security of bank account numbers, addresses, pay rates, and other details required to process the payroll and tax forms.

    8. What are some of the employee benefits and perks, employers/companies offer?

    Some of the common benefits that companies offer are medical reimbursements, health insurance, paid vacations, leave encashment programmes, wellness program fundings, etc. However, the statutory benefits as mandated by law are earned leaves; social security like ESI, PF, pensions, group insurance policies, maternity benefits; payment of gratuity, etc. These benefits differ depending upon the type of company and the state where it is located.

    9. Why should I outsource my payroll process?

    Some of the benefits from payroll outsourcing are:
    – Access to the experience of experts
    – No need to hire a full-time employee
    – You no longer need staff cover when one of your payroll employees is on sick leave, holidays or in case of other absences
    – Confidentiality and security of your payroll data.
    – You reduce the time spent on routine and repetitive tasks.
    Through outsourcing, your Payroll becomes easy and you can enjoy the peace of mind from knowing that the salaries are always paid correctly and in time.

    10. What is desktop based payroll system?

    This system is idle for a micro organization, where limited employees are working. Data resides in our own systems. You have to give us data in a simple template. Software will automatically calculate the payroll & generate the reports. Advantages are: Very cheap, Easy to use, IT infrastructure not required at your end.

    11. What is difference between salary and payroll?

    Salary refers to the amount of payor remuneration which an employee earns. Payroll refers to the system employers use to process salary payments.

    OUR SERVICES

    Private Limited Company Incorporation

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    ST Return Filing Solutions, NIL GST Return Filing, GST LUT Filing, GST E-Way Bill, Reply to GST Notice…

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    Complete Solutions for Tax, Payroll, TDS, Income Tax for Individual and Company etc…

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    ₹2,999/-

    Solutions for all yearly and event based compliance requirements related to your Company and Directors...

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    Solutions for all yearly and event based compliance requirements related to your Company and Director...

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    Solutions for all yearly and event based compliance requirements related to your LLP and Partners...

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    Get your XBRL financials ready for filing with MCA, BSE, NSE etc...

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    WHY TO CHOOSE US

    Recognised by Govt. of India

    We are Govt. recognised registered Company providing Financial and Legal aspects to clients all over India.

    Professional & Experienced Team

    We are a strong team of 25 energetic people with 2 Chartered Accountants and 4 Company Secretaries.

    Quick Turnaround Time

    From our past records, we assure you 100% accuracy in services we provide within the timeframe mentioned.

    Cost Effective Service with Easy EMI

    With us, you can be confident that needs will be met and agreed-upon services will be provided at a fair price with an option of Easy EMI.

    5000+ Satisfied Customers

    We provide financial, taxation and regulatory services to more than 5,000 Individuals and Businesses.

    ISO 27001:2013 Certified for Data Security

    Certified Service provider for quality standards, data security and confidentiality.

    Transparent Process & No Hidden Charges

    We practice transparent pricing for all services and separate cost into three categories, our fee, government fee, and GST. No Hidden Cost.

    All services under one roof

    From incorporation to routine finance, tax and regulatory services till Closure/ wind-up for businesses and Individuals.