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

Paperless Payroll – Streamlines processes and Decreases Payroll Costs…

Setup Payroll- Based on how simple or complex your payroll processes are, you can use greytHR to setup various options/parameters that the online application uses to automate the processes. For example you can list your employees by generating unique employee numbers, group them based on their employees status (on probation, confirmed) or position attribute types. You can even employee categories such as Grade, location, Cost Center, Department etc to group them based on common attributes.

Inputs for Payroll: Managing employee information, arrive at payable days, leaves one time payments etc. are some of the monthly transnational HR Tasks. Having a clear overview of this information is a crucial payroll task. With greytHR you need to worry about manually preparing these inputs and passing to the payroll processor. HR to payroll end to end automation can be achieved. 

Payroll process: greyHR has simplified the payroll process by introducing a checklist driven process. This reminds the processor, updating employee info, handling employee salary revision , paying arrears, deducting LOP, updating employee PAN number, stop payment information and then perform monthly actions like processing payroll generating payroll statements verifying payroll differences, emailing pay slips etc. Payroll process is at your finger and the cloud technology made the geographical proximity, a myth. You can access the software and process anytime, anywhere Payroll management services in India

Read more at: http://timesofindia.indiatimes.com/business/india-business/Tax-returns-deadline-notextended/articleshow/49146440.cms

End to End Payroll outsourcing Services

Brooks Consulting Private Limited Company will manage end to end payroll of your company which includes processing of employees’ salary generating all statutory and compliance reports and managing transfer of salary to bank accounts of employees. All you have to do is to send payroll inputs of new things new joiners and resignees along with details of variable payments like incentives, bonuses, etc. for existing employees. You can either send these payroll inputs in an excel sheet and via email or upload the input directly in Brooks consulting company have payroll services in India software from your customer self-service login. After receiving the payroll inputs, Brooks will calculate salary of your employees and send all the payroll statutory, and compliance reports along with bank transfer statements.

In spite of outsourcing payroll to Brooks, you will be in complete of your payroll management process with below mentioned self-service options in Brooks Consulting company payroll software.

1.      Payroll Admin Self Service: Your payroll team will get 24/7 access to master data of all employees to view all payroll, statutory and compliance reports.

2.      Manager Self Service: Your HR team, finance team auditors, labour law consultants, and other Payroll management services in India  managers will get 24/7 access to view only specific data based on their roles. Managers can plan, approve, or reject leaves and expenses of their Subordinates.

3.      Employee Self Service: Each employee of your company will get 24/7 access to view only his/her personal and professional details like salary structure pay slips, etc.

Should Payroll Management be Outsourced or Kept In-House?

Payroll management services In India cover a spectrum of activities including salary and wages calculation, withholding of taxes, distribution of withheld funds to respective government agencies and direct deposit of in-hand salaries into the bank accounts of employees. These tedious and routine functions can keep any business owner or his key employees occupied while they could better have worked on more important revenue-generating or sales-enhancing activities. While saving time, payroll outsourcing in India can help cut cost and ensure accurate tax calculations. Payroll companies can offer HR payroll solutions that help to improve a company’s human capital management and benefits.

 For more information Click here: http://smejoinup.com/business-news/should-payroll-management-be-outsourced-or-kept-in-house/