Payroll Services
About Payroll service
If you’re looking for a reliable and efficient payroll service, contact us today to learn how we can help take your business to the next level.
If you’ve come to our payroll page in search of the top payroll solutions in Bangalore You do not have to look further than us! You’re at the right place and have you covered. Prakasha & Co. have the expertise to manage the payroll processing needs of your.
We have worked closely with numerous small and medium-sized companies in Bangalore across various industry verticals and helping them to manage the Salary process, PF, and ESI process to their companies efficiently.
Importance of Payroll
Paying the employees’ salaries is one of the primary aspects of any business. Paying proper way of salaries each month on-time to ensure that the business can are carried out without a risk.
Additionally, it involves more than just transfer funds to the accounts of employees. Human Resource department Human Resource department has to verify the validity of your employees’ leaves as well as calculate tax on income as well as calculate incentive and bonuses, overtime increase in pay and reimbursements to each employee in accordance with the applicable and adjust deductions prior to transfer of the net amount to the accounts of employees.
Benefits of Payroll outsource
Cost-Reduction Strategy
The cost of setting up an internal HR for Payroll department may prove to be prohibitive for businesses. However, choosing outsourcing can assist the company's Payroll process save money and time. The cost of doing business can be reduced by assigning the tasks and responsibilities of the Payroll team department to a group of qualified specialists.
Increased Productivity
The productivity and vitality of the organization quadruple with well planned jobs. It is past time for businesses to realize that outsourcing Payroll process services will unquestionably cease the incredibly time-consuming activities. It gradually boosts output, enabling workers to approach their task with a goal-oriented perspective.
Reduce Errors
Salary payable procedures do have the potential for mistakes. Omissions are more likely to occur when there is a greater involvement of numbers. But that doesn't imply that companies will welcome mistakes. Modern business owners are giving their Salary process for outsourcing because they have no tolerance for mistakes, particularly spreadsheet errors. When skilled Payroll professionals are in charge of managing their employees Salary services, they feel safer.
Using An Outsider's Payroll Outsourcing Services Expertise
Finding employees for Payroll Process is a tiresome and boring task. To get the most out of people, an organization must fully commit to them. They must be educated and made deserving of each work given to them. On the other hand, taking use of specialists who have already gained knowledge and expertise will improve your employees salary process and issue the form 16 etc..
Prakasha & Co. can assist with forming a Right Payroll Process
HR-Human Resources
* The Income Tax Plan and the Declaration to ensure proper tax planning
* Charges and Loan Management with MIS report
* Update to the Employee Profile and update to Company Policy
* MIS and Interactive Charts in our proprietary software
* Onboarding, Talent, and Performance Management
* Exit Management for workers who have been fired.
* Attendance Management (Biometric Integration)
* Mobile Apps support is available for employee systems
* Leave Management Service for your employees
HR Payroll Management
* Payroll Processing using self-service mode
* Preparing Form 16 (Both Part A and B)
* MIS Reports on monthly reporting
Statutory Compliance
* Management of establishments and shops
* Update to the Trade License
* Provident Fund Service
* Service of Employees’ State Insurance
* Tax Professional (PT) file and updates
* Labour Welfare Fund management
* Registration for Contract Labour and management
Payroll MIS
* Process of distributing pay slips and share
* Salary Statements for JV purposes
* Statutory Reports on the monthly payment
* ETDS 24,Q, for TDS filings
* Balances and Accruals of Leave and update on Utilisation
* Liability Reports for all loan advances
* TDS Reports for filing with NSDL
* Form 16 is issued every year
Our Payroll Software India – How Does It Work
Prakasha & Co. Expert Payroll Process
Why Choose Prakasha & Co as Your Payroll Outsourcing Partner
If you’re looking for outsourcing of your payroll in Bangalore or elsewhere, we are able to assist you. We have a group of HRMS experts in our group and they are able to offer you the most effective solutions for your needs. Add payroll experts to your current team when you join us. Additionally, we offer you a unique employee self-service module that is cloud-based to allow you access to the most recent features effortlessly.
Payroll outsourcing refers to the practice of hiring a third-party provider to handle the payroll function for a business. This can include tasks such as calculating and processing employee salaries and wages, as well as tax compliance and reporting.
There are a number of benefits to payroll outsourcing for both employees and businesses. Some of the key benefits include:
Primarily Cost savings:
Outsourcing payroll can help businesses to save money, as they do not need to hire and train in-house payroll staff or invest in payroll software and systems. This can be especially beneficial for small businesses that may not have the resources to devote to payroll in-house.
Expertise and efficiency:
Payroll providers typically have a team of experts who are trained and experienced in payroll processing and compliance. This can help to ensure that payroll is processed accurately and efficiently, and that the business is in compliance with relevant laws and regulations.
Time savings:
Outsourcing payroll can free up time for business owners and other staff to focus on other tasks, as they do not need to handle payroll in-house. This can help to improve productivity and allow the business to focus on its core activities.
Flexibility:
Outsourcing payroll can provide businesses with the flexibility to scale their payroll function up or down as needed, depending on the size of the business and the number of employees.
Improved employee satisfaction:
By outsourcing payroll, businesses can ensure that employees are paid on time and accurately, which can help to improve employee satisfaction. Employees may also appreciate not having to deal with payroll-related issues, such as tax compliance and benefit enrollment, as these tasks can be handled by the payroll provider.
Payroll services are an essential aspect of any business, as they ensure that employees are paid accurately and on time. These services can be provided by a third-party company or in-house, but either way, they offer a number of benefits to businesses of all sizes.
Your company payroll outsourcing can provide a range of benefits to both employees and businesses, including cost savings, expertise and efficiency, time savings, flexibility, and improved employee satisfaction.
Not looking for Payroll? Click below to find other services we offer
- Setting up of Proprietary Concern in Bangalore
- One Person Company or OPC Registration in Bangalore
- Partnership Firms Registration in Bangalore
- Limited Liability Partnerships Registration or LLP Registration in Bangalore
- Subsidiary Company Registration in Bangalore
- Setup Branch / Liaison Office in India
Other services we offer after company registration depending on business :
- GST Registration
- Registration under Karnataka Shops and Establishment Act
- Profession Tax Registration
- MSME | Udyog Aadhaar Registration
- Employee Provident Fund Registration (PF Registration)
- Employee State Insurance Registration (ESI Registration)
- STPI Registration or Non-STPI Registration
- Import Export Code (IEC)
- Trade License from BBMP
