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.
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.
* 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
* Payroll Processing using self-service mode
* Preparing Form 16 (Both Part A and B)
* MIS Reports on monthly reporting
* 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
* 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
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.
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.
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.