Payroll Outsourcing

Payroll outsourcing is engaging an external firm to handle all the payroll related activities. Outsourcing of payroll functions is generally done to reduce costs and save time required to deal with financial tasks related to payroll. Outsourcing of payroll activities is beneficial for all kinds of businesses, regardless of the organization having a large payroll or a mid-range or small payroll.

Payroll outsourcing includes all activities related to payroll processing and other payroll-related functions. Payroll processing includes several activities like maintaining employee records, calculating employee salary and wages, computing and adding bonuses, distributing payroll, generating payroll related reports, and complying with the taxation laws of the government.

Why Payroll Outsourcing

Payroll outsourcing normally saves the costs involved in having payroll trained employees in-house as well as the costs of systems and software needed to process a payroll. Another reason many businesses outsource is because of the ever-increasing complexity of payroll legislation.

Running an in-house payroll can be a challenge for some companies or businesses without HR and accounting professionals on staff. Outsourcing is one method to avoid hiring additional employees or contracting with specialists.

Companies choose to outsource payroll for several primary reasons

• Cost savings by avoiding the need to use in-house resources to comply with complex payroll requirements
• Ease of ongoing administration of payroll through changes in personnel, reduction or increase in compensation structure and filing of reports to government authorities
• Avoiding mistakes and tax compliance penalties

Benefits Of Payroll Outsourcing

Organizations today are looking for time-saving and cost-effective measures to run their business smoothly. They are opting for cost reduction at various levels and focusing on outsourcing certain tasks that will provide them with the opportunity to focus on core issues of the business. Payroll is generally outsourced to reduce the complexities of having to deal with payroll related activities in-house.

The benefits of outsourcing payroll for both small and large companies are numerous, and a large percentage of businesses are opting for payroll outsourcing.

With highly specialized and experienced professionals and with the latest technology and techniques we ensure error-free payroll services with the guarantees of speed and confidentiality of employee data.

• Payroll
• TDS & Payroll Compliance
• PF & ESIC
• Employee Self Service
• Reporting & Analytics
• Time & Attendance
• Leave Management