Payroll by nature itself is very sensitive subject. Besides, it is near & clear to everyone. An employee (across the class, category and industry) is concern about accuracy and timely disbursement of his take home salary, whereas employer is concern about payroll cost, accounting, allocation, & outflow. On top of it, compliance of statutory provisions is mandatory, as they are enacted by the Government.
Therefore, payroll desk is always very, demanding. Hence qualities such as positive attitude, Honesty, sincerity and character of strength are pre—requisites.
The Scope of work include the following
One time set up
- Various Masters-Branch, Department, Designation
- Payroll Components with rules.
- Employee Master Details
- Employee Salary Structure
- Loan Recovery Certificate
Monthly processing of payroll which would include.
The Processing of data for all new employees, existing employees based on
- Attendance Sheet
- Change in salary structure
- Variable components
- New Loan recovery schedules/Extra recover details
- Stop Salary
- Calculation of TDS based on the estimation of investments received from employees.
Generation of Bank transfer Text files for the credit of salary
- Generation of Bank transfer Text files for the credit of salary
Reimbursement Processing
- Processing of reimbursements
- Generation of monthly reimbursement register
- Separate bank transfer file for reimbursement components.
- Separate pay slip for reimbursement.
Full & Final settlement of employees who have left the organization based on
- Date of leaving
- Recovery of pending loans, balance TDS, notice pay
- Terminal benefits eg. Leave encashment, Gratuity
Generation of reports : A payout license is provided to the client to view all reports generated by the systems
- Salary register for the month
- Salary comparison report with last month
- PF/ESIC in paper and electronic formats wherever applicable
- Deduction Reports
- PF, ESIC ECR File
- ESIC Form No. 5/6
- Profession Tax Deduction Reports
- Tax Payable Report
- Salary Summary
- State wise Profession tax & Labour welfare fund summary
Quarterly Processing
- Updating TDS Challan payment details
- Generation of eTDS FORM 24Q and Form 27Q
Year End Processing
- Generation of form 16
- Generation of eTDS form 24QQtr IV and form 27Qfor submission to NSDL
One Time Activity
- Updation of proposed investments at the start of the financial year.
- Updation of 80 Cinvestments proof/other deductions for tax purpose.
Web Module for employees.
- Every employee will have a user ID login and password to access his own information through out the year
- Employees to access details pertaining to salary pay slips, investments and tax estimation through the web module.