Payroll Outsourcing Services
In India, managing payroll isn’t straightforward. While dealing with technical intricacies, companies also have to cope with compliance and various other regulatory requirements. Often, companies attempt to manage payroll in-house. While it isn’t a wrong approach, it usually doesn’t prove much useful. That’s because in-house accountants are already overwhelmed with various tasks. Adding something critical as payroll to their KRAs affects their regular responsibilities and doesn’t help manage payroll either! If you’ve experienced something like this, you need payroll management services. This is where Talensetu steps in!
Why Outsource Payroll Management Services?
Outsourcing payroll management helps businesses in various ways. If you’ve been struggling with managing payroll in-house, here’s how outsourcing it can help you.
Payroll Outsourcing Services
Our support includes:
- Payroll Processing: Employee salary calculation, including basic pay, allowances, bonuses, and incentives.
- Statutory Compliance: Ensuring compliance with Indian labour laws and regulations, including; – Provident Fund (PF) – Employees’ State Insurance Corporation (ESIC) – Professional Tax (PT) – Labour Welfare Fund (LWF) – Gratuity
- Tax Calculations and Withholding: Income tax (TDS) deductions from employee salaries and TDS return filing
- Salary Disbursement: Timely salary disbursement via bank transfers and checks.
- Employee Self-Service Portals: Employee self-service portals to access pay slips, tax statements (Form 16), and other payroll-related information.
- Deductions Management: Handling deductions for components loan repayments, company-provided loans, advances, and voluntary contributions.
- Leave and Attendance Management: Integrating with the company’s existing time and attendance systems to track employee hours, and leaves, and ensure accurate salary payments.
- Reimbursements: Processing reimbursements accurately and per the company’s rules and regulations for travel, medical, and other approved expenses.
- Compliance Reporting: Preparing and filing statutory reports required by PF, ESI, PT, and TDS returns.
- Year-End Processing: Processing annual tax documents like Form 16 for employees and Form 24Q for quarterly TDS returns.
- Reporting: Generating and presenting management payroll reports for management, accounting, and audits.
Why Choose Talensetu as Your Payroll Service Provider?
- Extensive and unmatched domain expertise
- Nearly a decade of experience managing payroll
- Flexible pricing models to suit the client’s pocket
- Data confidentiality and adherence to the client’s data security protocols
- A dedicated team of payroll consultants and experts
- Assurance of compliance across every stage of payroll management.
Please email us at info@talensetu.com to learn more about the payroll support proposition.