Complete Payroll Services

Take on

  • Creation & Maintenance of database that will capture the following data:
    • Masters, Rules, Wage structures
    • Complete Employee footprint
  • The flexibility built into the system and exhaustive wage structures allow the system to meet most most requirements with minimal customisation.
  • Provision for investment intent declaration at start of the year to facilitate tax planning

Monthly processing

  • Payroll processing that will be undertaken on a monthly basis
    • Processing of time office data to credit to employee's bank account
    • Updating of Masters and Employee footprint
    • Incorporating any wage structure changes
    • Reimbursements in the nature of Cash / Voucher adjusted in the payroll
    • Incorporating any rule changes both internal and regulatory
    • Incorporating any tax laws changes
    • Ad-hoc payments - bonus, performance awards, etc.
    • Exemptions under LTA, Medical allowances and Conveyance as per rules
  • Automatic arrears computation for cases such as
    • Delayed wage revisions
    • Retrospective adjustments
  • All Statutory requirements as per the requirements of various regulatory authorities as well as a comprehensive tax module
    • Income Tax compliance
    • Profession Tax compliance
    • PF compliance
    • ESIC compliance
  • Prioritized recovery sequence and carry forward of any un-recovered amounts to next processing month.

The Loans covered can broadly be classified as:

    • Company loans
    • External loans - LIC, HDFC, etc.
    • PF refundable loans

Outputs

  • Pay-slips (printed or emailed OR Online).
    • Payments
    • Deductions
    • Cum. Totals
    • Loan balances
    • Leave Balances
  • Form 16 (Income Tax) to employees with an option for filing at Income tax office at a nominal rate borne borne by the employee.
  • Statutory Reports needed for compliance with the various regulatory authorities
    • Form 24 (Income Tax)
    • Form 12 BA (Perquisites)
    • Section 217 (Companies act - attachment to the directors report)
    • PF Return
    • Prof. Tax Return
    • ESIC Return
    • Employee Welfare Scheme Reports
    • Fringe Benefit Returns
  • Other MIS reports as specified by the client at the time of take on
    • Company loan reports, Department-wise/ grade-wise employee cost reports
    • Consolidated Salary Summary, Pay Register, Net Pay Advice
    • Dynamic on-line reporting module for generating customized reports
    • Journal Voucher in text file

At the end of every month the entire data of that month is uploaded on a CD with an inbuilt query generator and and given to the client.