Payroll Management Services (PMS)

Benefits

Economical and Effective

The PMS helps to plan the employee remuneration system. It helps the management to reliev themselves from the day today task of the payroll payments and statutary compliances.

The PMS manges all the aspects related to day today activities like attendance, incentives, tax decuctions, labor law complinances , tax efficiency systems etc.

Tax Deductions Management & Filings

Easies the Tax Deduction, Compliances and plannings related to employees salaries.

Also generates the tax returns and smoothens the deduction and deposit process.

Evaluation Support

Generates the reports related to salary, incentives , bonuses etc.for the management. This makes it easier for companies to evaluate employee performance at the time of appraisal and determine compensation.

Branding Support

Transparent and tax efficient system brings the branding of the organisation amongst the various stakeholders.

How?

Step 1:- Provide the relevant Information as follows

• Basic Information of Company like Incorporation Certificate, PAN, TAN, ESI & PF Registerations.
• Basic Information of Employees like
• Salary
• Classification of employee
• Incentive Plan
• Insurance Benefits other than ESI
• Payment Plan
• Other benefits to Plan
• Leave Policy
• Cost to company structure

Note: In case we have to plan the salry structure the we willplan as a part of our package

Step 2:- On the basis of the above information, we will plan and execute the PMS In case we have to plan the full Payroll we will do the following for You.

Tax planning for employees:

Tax Planning is an important aspect for employees as this helps them save on. We give the best tax solution for tax efficiency.

Cost to Company structure Designing:

CTC includes basic pay, allowances, reimbursements, bonuses, other benefits, etc paid by the company. This also includes the other cost to the company for availing the services of the employee. The structuring helps understand both the employer and employee the cost to company and the in-hand salary and other benefits available to the employee

Labour Law Compliance:

Labour Law compliance includes the compliance with the provisions of the Provident Funds Act, ESI, Bonus Act, Maternity Leaves Act, and other miscellaneous acts. This involves the planning and execution and preparing the framework for compliance with the various laws depending on the ste up of the organisation. this is very important for the labor intensive and the startups todo.

Setting up of reimbursement system and planning:

Reimbursement is the payment to the employee for the amounts spent on behalf of the company. This requires planning to avoid the implications of the Income Tax and GST. This also involves the framing of the processes for the payment plan and document submission to claim the same by the employees.

Promotion Planning for employees:

We plan the promotion policy of the employees depending on the management inent and the currently market prevailing policies to make the organization competitive and employee-friendly. This also helps brings transparency between the employer and the employee. This s also an important aspect in the structuring and taxation aspect of the payroll of an organization. No good employee would like to join an organization without a clear-cut promotion policy.

Employment Agreement:

We also help in drafting and executing the Employment agreements to avoid any legal problems and bring

transparity in the organization.

The employment agreement includes the conditions of employment and the rights, responsibilities, and obligations of both parties during the tenure of employment. This agreement also helps employees in getting a fair understanding of the job responsibilities and the expectations of the company.

HR policies Framework:

HR policies are rules and guidelines set by the top management and the HR team. These policies include the code of conduct for employees, their duties and responsibilities, and on the other hand, the company's obligation towards the workers, discrimination policies, activities considered as offensive, employee benefits, etc. The HR policies and procedures are drafted in sync with the objectives and goals of management. Here we help in framing the same with industry best practices.

Drafting Leave Policy:

Leaves are regulated by the state Governments and also defined by the management. These need to be defined and documented to provide clarity to the employees for their entitlement.

FAQs

1. What is the difference between reimbursement and allowance?

An allowance is a fixed sum that a company may decide to pay its employees to cover additional expenses. For example travel allowance, overtime allowance, medical allowance, etc. All financial benefits that employer offers under the head “salaries” are taxable. Certain allowances are partially or fully exempted. Reimbursements are the amounts that a company pays back to its employees who may incur business-related expenses. For instance, many companies provide medical reimbursements where employees can claim the amount by presenting appropriate bills and proof of expenditure.

2. Data Confedentiality

We are 30 years old organisation and the client secrercy and confedentiallity is our high Priority.

3. Why should I outsource my payroll process?

Companies outsourcethier payroll to availspcialise services, law Com