Why should you opt for Payroll Services in India? The Major Benefits
Payroll Outsourcing services make the job simpler for payroll accounting, reporting, tax administration and many other related services. They help in the routine administration of all payroll tasks involved to run a company smoothly. Besides making reducing the efforts, they also reduce the overall costs involved by up to 50% and increase the profitability.
Some of the main payroll services offered by Outsourced Payroll Providers include:
- Check processing and deliverables
- Provide quarterly and annual tax reports
- Help in maintaining time and attendance procedures/system
- Payroll for any direct deposit payments
- Process employee insurance deductions
- Fill and report W2 and W4 and more
Most of the companies would initially process their payroll for many reasons like:
- To protect wage information
- Consider in-house processing would be cost-effective than outsourcing
- And to maintain a control over their payroll data and handle changes at the last minute
However, this cannot be done throughout and the need for hiring, corporate Payroll Services becomes imperative when they need to manage and handle a huge data and employee sources. There is nothing to deny that a payroll company can certainly reduce much of the company’s efforts, time, money, and manpower employed for payroll. Besides, they also promise to ensure the confidentiality of the data provided and processed for payroll.
This has increased the trust and needs to hire payroll Outsourcing Company.
Reasons to Outsource Payroll:
- Payroll outsourcing companies in India have team of experienced Charted Accountants and they take care of all statutory laws
- They help reduce the cost by up to 50%, thus become cost-effective
- Improve productivity by improving the quality of services with the time saved by outsourcing payroll
- Use of latest software and technology to process payroll
- Indian payroll processing companies have highly skilled and specialized accounting personnel who are fluent in English, very competent and efficient in handling/processing payroll faster
The range of Payroll Services in India:
Some of the extensive range of payroll services offered by companies in India are;
- ESS – Employee Self Services, which includes online technology for the employees to view their salary slip, decide FBP, submit IT declaration and submit query
- Automated leave, attendance, and import/export solutions
- Access web-based leave solution
- Manage reimbursement
- Web-based payroll processing, F and F, report generation, reimbursements, generation of E-Challan and more
Payroll companies in India cater a wide range of services to all sectors and small, medium and large companies.