Payroll Processing in India: Allowances and Outsourcing.

Payroll, or employee compensation management, is a multifaceted process. As part of payroll, business generally compute and withhold government taxes like social security and individual income taxes from an employee’s salary many companies also have benefits plans like health insurance, which include deductions of premiums from its employees’ salaries according to employee customization, adding another layer of activity for payroll processing.

Allowances                     

Allowances are categories of expenditures in India that are not taxable, provided they match certain specifications and do not exceed a certain amount. Best payroll provider in India.

·         House rent

·         Transport

·         Medical

·         Meals

·         Leave travel

·         Education; and

·         Special allowance

The Benefits of outsourcing Payroll.

·         Increased efficiency

·         Increased accuracy

·         Increased transparency

·         Increased confidentially

·         Decreased liability

·         Decreased cost