Payroll Management
We will assist you in setting up your full payroll process at the best rates available.
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Contact us to know more about how we can help you with Payroll Management
What is Payroll Management?
Payroll processes help in maintaining financial records of employees such as net salary payable, tax deductions, provident fund, employee state insurance, gratuity, etc. Effective payroll systems make it possible to pay employees on a timely basis thereby increasing employee morale and positively reflecting on the company’s financial position.
Table Of Contents
Overview
Payroll is an integral function for any organization. For start-ups & small businesses, setting up a Payroll system can take a lot of time & energy of the founding team. As a result, the founding team finds it difficult to focus on more important areas such as product development, customer satisfaction & marketing. Also, Payroll functions if not handled properly can become a very complicated & time-consuming process. Since, there are various statutory requirements surrounding payment to employees, it is better for entities to outsource this function to an expert entity like ours.
Small businesses, start-ups as well as Large MNC’s can outsource their payroll processing to ICI thereby focusing on growing their business rather than solving complicated labour laws & miniscule payroll issues.
Benefits Of Outsourcing Your Payroll Processing To Us
- Complete cloud-based setup accessible throughout the world
- Analysis of staff payments through graphical representations enabling you take better decisions
- Stress & error free payroll cycle every month
- Top class payroll processes for your organisation
- Expert advice on various labour laws
Our Services
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Structuring of Payroll
Our experts will help you in structuring your payroll to maximise tax-savings for all your employees - Calculation of Gratuity, Leave Encashment, Bonus & Pension
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Preparing Legal Employee Documents
Our experts shall help you prepare professionally crafted documents like appointment letters, offer letters, confidentiality information and many more - Reimbursement & Employee Benefit Expense Management
- Employee Attendance Management, Leave Approvals & Reports on Balance Leaves
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TDS Compliance
Our experts shall help you deduct TDS & file TDS returns for all those employees whose income is taxable as per the Income Tax law -
Issuance of Form 16
If you have deducted TDS on the employee's salary, then you are required to issue Form 16 to the employee at the end of the financial year. Our experts shall prepare and issue Form 16 in the prescribed format for all your employees -
Filing of Income Tax Returns
All employees whose income is taxable as per the Income Tax Act, are required to file an Income tax return at the end of financial year. We shall assist in income tax return filing for all your employees & also provide solutions to any tax query raised by them
Related read:Income Tax Returns (ITR) AY 2021-22: Which ITR Form Should You File?
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Provident fund registration & return Filing
Any entity with more than 20 employees has to compulsorily register with the provident fund authority. Our experts shall help you register, deduct PF contribution from employee’s salary, make suitable contribution from employer’s account & file TDS returns