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PAYROLL PROCESSING

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:

  1. Developing organization pay policy including flexible benefits, leave encashment policy, etc.
  2. Defining payslip components like basic, variable pay, HRA, and LTA
  3. Gathering other payroll inputs (e.g., organization’s food vendor may supply information about the amount to be recovered from the employees for meals consumed)
  4. The actual calculation of gross salary, statutory as well as non-statutory deductions, and arriving at the net pay
  5. Releasing employee salary
  6. Depositing dues likeTDS,PF, etc. with appropriate authorities and filing returns

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.


Payroll Processing

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Payroll Processing
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Approx. Rs 7,500 / MonthGet Latest Price

Service Details:
Service IncludeSalary Processing, Attendance Record, Prepare Excel Salary Sheet
Service ModeOnline
Work LocationDELHI NCR
Mode Of ServiceOnline
Service DurationMonthly Basis for One Year
Start Date / Month3rd of Every Month

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

Retrospective adjustments

 
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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Anuj Mittal & Co.
Anuj Kumar Mittal (Proprietor)
1220, 12th Floor, Tower B, I- Thum, Sector 62,
Noida - 201309, Uttar Pradesh, India
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