Payroll is the list of employees’ payment. This list consists of various records. Like productivity and the total amount of money that a payroll service agency has to pay. It is necessary for the financial accounting of a payroll service agency. It is also useful for many other reasons. Payroll outsourcing is essential as it affects the total income of the company. It is important because it has many laws and regulations. The things companies
How will the future look for Payroll Outsourcing in India - PeopleSkills
As businesses rigging up for the quickly changing elements of the corporate ecosystem, it becomes important that they focus on the core functions of the business and outsource non-core functionalities of the business, for example, payroll outsourcing. Payroll Outsourcing gives you more time to work on better business strategies and it also ensures that all the statutory compliances are handled by the experts. What is Payroll Outsourcing? In simple terms, Payroll Outsourcing is hiring an
All you need to know about EPF - Employee Provident Fund.
EPF (Employee Provident Fund) is a scheme that is managed by the government to promote savings for individuals employed in the service sector. Under this scheme, the employee and employer both have to contribute a certain amount of money towards the scheme. Interest is paid on both employee’s and employer’s contributions. Let us understand all you need to know about the EPF scheme. UAN (Universal Account Number)           It’s a unique number that is allotted
How having a good payroll management system will help your business in the long run.
Payroll Management System is a tool – basically a software program – that enables you to monitor your employee’s financial records in a hassle-free and automated way. This includes salaries, bonuses & deductions, net-pay, and pay-slip generation for a specific period. Why do you need Payroll for your business? If we broadly divide business functions in an organization it can be divided into two categories – macro & micro. Macro functions are primary and long-term
benefits of payroll outsourcing for small businesses 1
What is Payroll Outsourcing? Payroll Outsourcing involves hiring an external agency to handle the payroll-related functions such as calculation, management, and payment of salary along with all the other related important functions. Why every small business should consider Payroll Outsourcing? For a small business handling all the Payroll tasks can be a complicated and time-consuming task. Among other payroll functions, it can include things like determining employee wages and taxes, deduct vacation and sick pay,
labour laws every Indian employee must be aware of
According to the United Nations – India is the country with the highest youth population. We are now standing at a point where the dream of becoming a super economy seems a reality. A major obstacle that is standing between this ambitious project and reality is the Indian labour laws. The labour laws and its acts have always been a topic of controversy, therefore in such a scenario, it now becomes mandatory that every employee