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Payroll Compliance

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Payroll Compliance

A payroll system is an automated process which helps to comply with various payroll regulations and involves calculating total wage earnings, filing of payroll taxes, calculation of deductions and lastly making the payments to employees. It is necessary for every company to prepare a payroll system for its employees from the time of their hiring to the time of their retirement. Through the payroll process, it becomes easy to calculate what is due to the employees after making the required deductions like TDS, meal coupons, etc. It is an important and complicated process which must be carried on by each and every organization.

Process:

  • The process of payroll system starts with the pre payroll activities such as preparation of the list of employees to be paid salaries, defining of payroll policies such as pay schedule policy, employee benefit policy, etc. Then the company should gather employee inputs such as PAN, bank account details, etc and then the information received should be validated and examined by the company before using such information for the actual payroll process.
  • The second step in this process is the calculation of actual salary by deduction of gross deductions from the employees gross salary such as arrears, perquisites, allowances, reimbursements, bonus, etc
  • The third step is the maintenance of accounts by the company relating to employees salary and then making payment to the employees. For this purpose the company must transfer the issuance of pay checks to them
  • The last step in the payroll process is making the necessary deductions from the employee’s salary such as TDS, professional tax, provident fund, etc. These deductions must be recorded by the company and reported by the company to the respective departments by filing of respective forms.
  • The function of Payroll processing is all the way to Tax Proof Management, Expense Management, Flexi Benefit Administration, Leave/Absence Management, Client Self Service, Employee Self Service, Query Management and Reports & Analytics are offered as Managed Payroll Services.
Services
  • Attendance Management
  • Forms & Letters Generation
  • Role Based Access
  • Leave And Expense Management With Flow
  • Notifications And Approvals On Email
  • Alerts And Announcements
Documents Required for registration
  • 1. I-9 Employment Eligibility Verification form
  • 2. Social Security Number
  • 3. Federal and State withholding Allowance Certificates
  • 4. Direct Deposit