Payroll is a very significant function for any organisation - after all, it determines the take home pay of employees. Due to its sheer sensitivity and confidentiality, it is a function which requires ongoing and effective monitoring. As a result, effective payroll services require specialisation and a clear understanding of the applicable laws.
As organisations continue to expand, managing payroll processes merit special consideration. One requires an organised approach to build, manage and implement payroll tax related operations and processes., Recent trends indicate that increasing number of companies in the Indian market are outsourcing their payroll function.
Key service offerings
- Assistance with the payroll process for the company and its employees
- Advise on the monthly amount to be deposited by the company in respect of its employees under the applicable laws
- Assistance in preparing returns for Tax Deduction at Source (‘TDS’) return and the TDS certificates to be issued to employees
- Provide payroll reports required by the company and its employees
- Providing assistance from tax and regulatory perspective in respect of employment contracts
- Provide relevant information to various authorities in case of scrutiny/ inspection of payroll records
- Discuss tax positions on specific compensation items which may merit attention due to their ambiguous nature
- Offer personal employee support services that enable resolving employee queries.