Payroll is a list of employees who get paid by the company. Payroll also refers to the total amount of money employer pays to the employees. As a business function, it involves:
In short, we can say that payroll process involves arriving at what is due to the employees also called as ‘net pay’ after adjusting necessary taxes and other deductions.
|Type of Service Provider||Consulting Firm|
|Type of Service Contract||Retainer Based|
PF registration is mandatory for all establishments with 20 or more persons. Some establishments having less than 20 employees would also be required to obtain PF registration. All employee become eligible for a PF right from the commencement of employment and the onus of deduction & payment of PF is with the employer. The 12% rate of PF contribution should be equally divided between the employee and employer. If the establishment houses less than 20 employees, the rate for PF deduction is 10%.
Documents Required or PF RegistrationBased on the type of entity seeking PF registration, the list of documents required for PF registration would vary as under:For Proprietorships
Name of the applicant
Pan card of proprietor
Id proof of the proprietor like Driving license/Passport/Election Card
Address proof of proprietor.
Address proof for the premises.
Complete details of the applicant with their residential address and telephone number
For Partnership Firms / LLP / Company
Name of the partnership firm or LLP or Company
Certificate of Registration Firms in case of Partnership firm. Incorporation Certificate in case of LLP or Company.
Partnership deed in case of partnership firms or LLP.
Id proof of Partners –Pan card /Election Card / Passport/Driving license in case of Partnership Firm or LLP. ID proof of Directors in case of company.
List of all partners with telephone number and address proof of all partners in case of Partnership Firm or LLP. List of all Directors with contact details in case of Company.
In case of Society, Trust etc, Registration of the organization needs to be done with concerned authority.
Certificate of incorporation of society/trust.
Moa and Bye Laws of society and trust.
Id proof of president and all members of society
Complete details of president and all members with their complete address and telephone number.
Pan card of society/trust
Common Documents Required for All Entities
First sale bill.
First purchase bill of raw material and machinery.
GST Registration Certificate, if registered under GST.
Name of the bankers, address of the bank.
Record of a monthly strength of the number of employees.
Register of salary and wages, all vouchers, all balance sheets from day one to current date of provisional coverage.
Date of joining of employees, fathers name and date of birth.
Salary and PF Statement.
Cross cancelled cheque.
|Service Include||Salary Processing|
|Mode Of Service||Online|
We are a renowned organization engaged in providing End-to-End Payroll Service to our clients at reasonable prices in the market. These services are acknowledged by the clients for their accurate solutions and reliability. Rendered by a team of highly qualified experts, these services are demanded extensively by our clients for their user-friendliness and cost-effectiveness.
Following are the issues for which we provide solutions:
Monthly payroll processing
Provident fund and tax deduction at source - advisory and regulatory support
Provident fund and tax deduction at source - returns filing, annual assessment, liaison with authorities and others
Payroll designing, benefits structuring, stock options and perks valuation advisory
Employee statements, employees tax declarations, computation of tax, TDS certificates and Individual e-Tax Returns
Expatriate tax compliance
Monthly payroll processing includes the following activities:
Master Data Creation or Updation
Creation & maintenance of database to capture the data related to masters, rules, wage structures
Provision for investment declaration at start of the year to facilitate tax planning
Processing of salary and its credit to employee's bank account.
Updating of masters and employee data
Incorporating any wage structure changes
Reimbursements in the nature of expenses / medical / LTA
Incorporating any rule changes both internal and regulatory
Incorporating any tax laws changes
Ad-hoc payments - bonus, performance awards, ex-Gratia and others
Exemptions under LTA, medical allowances and conveyance as per rules
Arrears computation for the following cases:
Delayed wage revisions
Full and final settlement covering:
Appropriate tax deduction at source
Adjustment of leaves / loans / other recoveries / notice pays and others
Payment of gratuity / leaves as per the provisions of law and company policy
Compliances of statutory requirements as per various regulatory authorities covering the following:
Income Tax compliance - Quarterly TDS e-return filing
Professional tax compliance
PF compliance - filing of various monthly and annual returns and forms with RPFC
Compliance with employee welfare scheme such as labour welfare board and others that may be applicable to the establishment
Planning of loan recoveries and carry forward of any non-recovered amounts to next processing month. the loans can broadly be classified as: company loans (Soft, Home or Personal) and external loans – Home loans etc. from HDFC / ICICI / LIC and PF refundable loans
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