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Feel difficult to pay your employees salary with 100% accuracy? Here is a step by step guide to overcome this problem

Payroll processing is a complex task that has to function with greater accuracy. Discrepancies in the payroll affect the business in multiple ways. Firstly it creates friction with the employees leading to a lack of understanding and cooperation and promotes ill will. Secondly, it affects the relationship with the Government authorities as the returns submitted are inaccurate. This would entail paying fines as penalties. When this happens, the company loses the confidence of its employees and the goodwill of the authorities. This will have adverse effect on the growth of the company.

Steps to process payroll with 100% accuracy:

Step 1: Deciding on the process to handle payroll processing

Payroll processing can be handled in three different ways and they are …

  1. Manual Processing: Here you can use worksheets like Excel to manage payroll. For companies with a handful of employees, this may be suitable. However, for companies with a larger workforce, this not only becomes cumbersome but is also prone to inaccuracies as the chances of clerical or mathematical errors are high.
  2. Using Payroll Software: When you decide to move from manual processing to using readymade or customized software, you are paving the way for an automating system that can save a lot of time and generate highly accurate reports. This will help you to avoid a lot of problems and create a better understanding with your employees and also keep the company compliant. But they do have their disadvantages.
  3. Outsourcing Payroll Process: This is by far the best method to process payroll with great accuracy. Here the entire operations are entrusted to an external agency that is highly experienced in handling Statutory Compliance issues and recruitment. You achieve full automation when you associate with an outsourcer as you get a wholesome package that integrates all the modules seamlessly.

Make your choice!

Step 2: Preparing the Employee inputs:

This is a very vital step and has needs great care and accuracy. Good to remember the acronym GIGO – Garbage In Garbage Out. Check for correctness of all the data that is input. Any mistakes here would be reflected in all the information till such time it is identified and corrected.

Step 3: Ensure proper classification of employees:

This is an important step and has to be handled with utmost care. Once the employees have been properly classified according to their designations and nature of work, the tax dues, EPF & ESI deductions, overtime wages, minimum wages, and other dues are recorded. Any mistake here would entail payment of back wages and taxes and also penalties to government bodies for submission of inaccurate returns.

Step 4: Accurate tracking of Time and Attendance:

Time and attendance have to be tracked meticulously, especially for those employees who earn on an hourly basis. An efficient time and attendance software will be able to handle this task properly and can also prevent time theft.

Step 5: Achieve full automation:

When you achieve full automation, you are in effect drastically avoiding inaccuracies. Full integration of the entire module is required to achieve this task. This will enable you to achieve full automation and all the relevant information will be at your fingertips. The payslips, the Leave and attendance details, the statutory deductions, and taxes are accurately posted during the process.

Step 6: Check Statutory Compliance and Tax issues:

You must fully understand and implement all the Statutory Compliance rules and regulations. So also the IT and Professional tax dues have to be maintained. These are extremely important issues that need to be followed strictly. You should be aware of changes enforced by the authorities and be able to implement these changes as and when they announce these changes.

Step 7: Maintaining Data integrity and security:

This is critical if you are to manage payroll accurately. Constant checks to maintain data integrity and quality have to be performed.  Similarly, Data Security is important as this involves the vital data of all the employees. Careful maintenance of this aspect is important.

Step 8: Maintain regular communication with the employees:

Regular communication with your employees is a must as it will provide you with better inputs to develop the system. They can identify any lacunae in the system and this will help you to make necessary changes in the system.

Step 9: Regularly review the system:

When you regularly review the payroll system you get a better understanding of its performance and overall functionality. This will help you to make appropriate changes for greater accuracy.

Conclusion:

Payroll processing is a time-consuming and mundane task when handled in-house. If the need is to generate accurate reports and keep the company fully compliant, then the obvious choice is to outsource your payroll operations to an external agency. GetifyHR is one of the leading outsourcers of payroll processing in the country. Their cloud-based payroll system is fully integrated and provides highly accurate information to the company and its employees. The system also very meticulously handles all the compliance and tax issues.

 

 

 

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March Compliance Canlendar

Tax Compliance Calendar for March 2022 covers the important dates for Incometax Returns filing, GST(GSTR1, GSTR3B & RET1), TDS payment & filing, ROC from April 1st 2021 to March 31st 2022 primarily for Individuals, Professionals & SMEs.

Tax HeadParticulars of ComplianceDue Date
TAX DEDUCTION AT SOURCEPayment of TDS to GovernmentMar-07
Payment of TCS to GovernmentMar-07
INCOME TAXITR for AY 2021-22 for assesses whose books are required to be audited us 44ABMar-15
Due date for Linking of PAN with AadhaarMar-30
Tax Planning & Book Closure Plan for FY 2021-22Mar-31
Due date for Revised or Belated Income Tax Filing for AY 2021 -22Mar-31
ADVANCE TAXPayment of Advance Tax by Non-CorporatesMar-15
Payment of Advance Tax by CorporatesMar-15
ROCAOC-4, AOC-4 (CFS), AOC-4 (XBRL), AOC-4 Non XBRL Filing for Companies & OPCMar-15
MGT 7 Filing for Companies & OPCMar-31
GST RETURN FOR ANY REGULAR BUSINESSFiling of GSTR 1 – Turnover>5Cr or wTho opt for monthly filingMar-11
Filing of GSTR 1/IFF – who opt for QRMPMar-13
Filing of GSTR 3B – Turnover>5Cr or wTho opt for monthly filingMar-20
Payment – PMT 06 – who opt for QRMPMar-25
GSTR-4 (FY 2020-21)Mar-31
PROVIDENT FUND ESIPayment of PF ContributionsMar-15
Payment of ESI ContributionsMar-15
PROFESSIONAL TAXPayment of Professional Tax in TamilnaduMar-31

This calendar would now be available for every month in a year specifying the important dates for that particular month. This information will be very useful for businesses & individuals to regularize the monthly returns filing and payments. Associating with GetifyHR will not only provide high end technology to process the payroll and manage Statutory Compliance issues, but also prioritizes the important dates to be fully compliant.

statutory compliance

7 reasons for Outsourcing Statutory Compliance in 2022

Introduction

The COVID-19 pandemic sweeping the world has affected all walks of life. Businesses have also felt the impact of the pandemic and have been forced to make drastic changes in their workforce. Work-from-home has become the new norm during the past two years. This has also forced governments to amend the statutory compliance rules and regulations in line with the changed conditions.

Payroll processing and keeping the business compliant with all the statutory rules and regulations has been an onerous task and businesses have looked at different options to maintain these. Outsourcing these operations to a genuine service provider is the ideal solution under these circumstances.

The current scenario has forced companies to find new ways to overcome issues pertaining to the workforce and this has put tremendous pressure on the HR team. Staff attrition rates are on the rise and it is becoming even more difficult to handle employee issues especially when your workforce is spread over different locations and in different states. In this article, we shall discuss 7 reasons for outsourcing your Statutory Compliance in 2022.

Reason-1: Keeping the company compliant, always!

This is one of the most important reasons to outsource statutory compliance tasks to an efficient and qualified service provider. Statutory rules and regulations are prone to frequent changes and companies must keep themselves abreast of these changes as and when they are made.

This is especially true during the pandemic and its aftermath. These changes have created a lot of headaches for companies that have maintained their Payroll and Statutory Compliance in-house. When you associate with an outsourcer you can rest assured of being fully compliant as they bring in their vast experience and knowledge of the field.

Reason-2: Save Time and Money

Outsourcing Statutory Compliance can save a lot of time and money. The service provider will maintain all the records and keep the company compliant, and this is irrespective of any changes that may have taken place in these rules and regulations. Handling these operations in-house would require an expert team and would, therefore, takes up more working hours and also pushes up the cost.

Outsourcing is, therefore, cost-effective and time-saving.

Reason-3: Creates better work atmosphere

Outsourcing your Statutory Compliance tasks to a service provider, assures you of getting the task completed without any errors. This is what the management and the employees need. The employees, therefore, do not have any issues with the management with regard to their contributions and deductions. This paves the way for greater cooperation between the management and employees. The workplace becomes more harmonious and this, in turn, would create greater growth.

Reason-4: Frees the HR team

Freeing the HR team from mundane work and allowing them to concentrate on core business activities is the ideal situation that any management would look for. By outsourcing Statutory Compliance to a service provider, you are doing just that. Statutory compliance is a very critical aspect that requires expert handling. The HR team would be hard-pressed to maintain these requirements and it would naturally take their time and effort to fulfill these tasks.

When you relieve them from these tasks, you are in effect freeing them to concentrate more on core business activities that would help to grow the business. This would surely help the company to reach its target much more smoothly.

Reason-5: Assists the Accounting Department

When you outsource to a service provider, your payroll and statutory compliance requirement function very efficiently. The data generation is accurate and effort-free. This accurate information is directly available to the accounting department so that accounts reconciliation can be performed without much complication and the need for additional data entry. All accounting entries get directly posted in the accounting modules as they are fully integrated with the payroll and statutory compliance modules. This will save a lot of time and effort.

Reason-6: Ensures regular filing of statutory reports and Tax filing

Outsourcing your statutory requirements assures you of regular filing of all the statutory forms within the stipulated period. This assures regular remittance of the contributions from the employees and employer within the scheduled period.   Similarly, the handling of Tax filings and payment of tax dues will be regularized. This would enable the company to avoid fines and penalties due to late or wrong filings

Reason-7: Provide a high level of Data Security and confidentiality

Outsourcing to a service provider will ensure greater security of vital data. There is a reduced risk of mismanagement of funds and identity theft.  With in-house maintenance of these tasks, there is a greater chance of tampering of employee data.  Outsourcing prevents this possibility.

Conclusion:

Outsourcing your Statutory Compliance requirements has tremendous benefits for the company. Simply put, you can avoid a lot of headaches by keeping the company compliant with all the rules and regulations. When experts handle these issues, you are assured of greater cooperation with the employees and lesser issues with the Government authorities.

GetifyHR has earned a reputation for excellent service and its efficient handling of all Statutory Compliance requirements. During the pandemic, she has stood steadfast with her clients spread across the country and enabled proper handling of all regulatory issues excellently.

The changes brought on due to the pandemic and the new Labour Reforms that are being implemented by the Government of India are creating problems for business. However, we have been able to provide our clients with the best support to overcome these difficulties. Today, GetifyHR ranks among the very best Payroll and Statutory Outsourcing companies in India.

 

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EPF & ESI – Companies that are eligible? How to Register? What documents are required?

Introduction:

The constitution of India ensures social-economic justice to the people and establishing of a Welfare State.  The inequalities in the society were slowly being dismantled by regulations brought in by the government.  One such regulation was to introduce a long-term savings scheme for employees, especially in the Private sector, that would support them in retirement or superannuation.  This regulation is the Employees Provident Fund & Miscellaneous Provisions Act, 1952.

With the view to provide further security to the employees in times of adversity like ill-health or accidents, the government introduced the Employees State Insurance (ESI) scheme in the year 1948. Both these acts have gone a very long way in supporting the employees in the organized sector when they are out of job and in times of adversity.

The EPF Act

EPF Act:  the EPF act ensures that all employees have to contribute a percentage of their basic salary to the EPF every month.  An equal is contributed by the employer towards the fund. The amount so contributed would earn interest and can be withdrawn under certain conditions.  The scheme is managed by the Employees Provident Fund Organization (EPFO).

Eligibility – for Employer

Any organization that has 20 or more employees is required to register with the EPFO and contribute towards EPF.  However, subject to certain conditions even organizations employing less than 20 employees are permitted to register and contribute to the fund.

Eligibility – for Employee

Any employee drawing a monthly salary of less than ₹15,000/- has to compulsorily become a member of the EPF.  If any employee drawing a monthly salary more than ₹15,000/- desires to become a member he may do so subject to getting the approval from the Asst. PF Commissioner and the Employer.

How to Register?

EPF Registration is mandatory for all organizations that meet the eligibility criteria of 20 or more employees.  The registration must be obtained within one month of the attaining the minimum strength.  Failure to register will attract penalties.

The registrations can be made offline or online through the official website of the Employees Provident Fund Organization.  Online registration is an early process when you have all the required documents/information readily available, the registration form can be downloaded from www.epfindia.gov.in.

The following information has to be furnished:

Name and address of the Organization

Details of Head Office and Branches if any

Date of Incorporation/Registration of Firm

Details of ownership:  Designation and address of Directors or Partners

PAN details

GST details

Contact details:  email ID and mobile number of authorised person

Name of contact person, Address, Date of Birth, Gender, PAN, Designation and date        of joining

In addition to these, details regarding the type of company have to be furnished.

For Proprietorship Firm

Registration of Firm with date of registration

Name of the Employer

PAN details

Identify proof

Address of the Proprietor (Official)

Address of the Proprietor (Residential)

Contact Number

For Co-operative Societies (Trusts/Societies)

Certificate of Incorporation

Memorandum of Association

Articles of Association

PAN

Address Proof

For Partnership Firm

Name and address

Identity proof of Partners

Certificate of Registration

Details of Partners

For Limited Liability Partnership firm (LLP)

Certificate of Incorporation

Identify proof of Directors

Details of all Directors

Address Proof and ID Proof of all Directors

Memorandum of Association

Article of Association

Other Businesses

If Factory, then the Factory license and date have to given

First Sale Bill

First Purchase Bill towards machinery

Bank name, account Number, IFSC, address

Salary details

Employee details

Number of employees employed, Gender, Type of work

Salary details

Documents Required for ESI Registration

  1. Company Pan Card (Scan Copy & Hard Copy)
  2. Partners/Directors Pan Card (Scan Copy & Hard Copy)
  3. Current Account Cancelled Cheque Leaf (Scan Copy & Hard Copy)
  4. Company Registration Copy (ROC / Partnership Deed)
  5. Partners Details (Name, DOB, Father Name, Partnership starting date)
  6. Employees Aadhaar Card Copy
  7. Employees Bank Passbook Copy
  8. Digital Signature of Authorized Signatory
  9. Specimen Signature
  10. EPF & ESI Application forms
  11. GST Registrations Copy
  12. Rental/Lease Agreement

Steps for Online Registration

Be prepared with all the required documents

Login to the EPF website @ epfindia.gov.in

Read the instructions thoroughly

Fill in the required information

A Digital Signature Certificate of the Authorised Signatory – Proprietor/Partner/Director

Verify their correctness and then submit the form online

Type in the CAPTCHA code and click on “GET PIN” option

Enter the PIN that you receive on your registered mobile or email ID

Click on the SUBMIT button

Download the PDF

Save and take a printout of the PDF

This has to be submitted to the EPF Office.

The ESI Act, 1948

The Employees State Insurance (ESI) scheme is a welfare scheme for the benefit of employees in the organized sector.  The scheme was introduced by the Government under the ESI Act, 1948 with the objective of providing social-economic protection to employees during adverse situations brought on by ill-health or accidents.  The funding for the scheme comes from the contribution from the employee and employer.  Under this scheme, the employer contributes 3.25% of the monthly salary + dearness allowance, whereas the employees contribute only 0.75% of the salary.  Any establishment employing more than 10 employees (20 in some states) have to register with the Employees State Insurance Corporation (ESIC), an autonomous body under the Ministry of Labour & Employment, Government of India.

Eligibility

Any organization that employs 10 or more (20 or more in some states) is required to register with the ESIC and contribute towards ESI.  The Act however applies for both the employer and the employee.  In case the wage of the employee is less than Rs:176/- per day then the employee is exempted from contributing to the fund.  All employees whose salary does not exceed Rs:21,000/- are eligible to be beneficiaries to the scheme.

The ESI Act covers the following establishments:

  • Shops, Road Transport organizations, Cinema Houses/Theatres, Newspaper Establishments, Non-seasonal Factories, Hospitals & Medical Institutions, Educational Institutions, Restaurants & Hotels. If any of these establishments employ 10 or more persons, they have to register with ESIC.

How to Register?

Registration can be manual or online.  However, now the ESIC registration is fully online.  The steps involved in online registration are given below:

Step 1:  Here you have to login to the ESIC portal @ www.esic.in.  Click on the “Employer Login” option on the home screen.  On the next page click on “Signup” button and fill in the details called for and then submit the form.

Step 2:  The employer will receive a confirmation mail to the email address and mobile number provided earlier at the time of sign-up.  This email will contain the username and password details for registering as an employer under the scheme.

Step 3 :  In this step you have to fill-up the Registration Form-1.  For this you have to login to the ESIC portal and click on the “Employer Login” option and enter the User name and password received in your email or mobile.  You will get redirected to the “New Employer Registration” option.  Click on the option and you will be asked to select the “Type of Unit” from the dropdown list and click on the “Submit” button.

The Employer Registration Form_1 will appear on the screen and all the details required have to be filled in.  The details include Employer details, establishment details, and employee details.  Once this is completed, click on the “Submit” button.

Step 4 :  In this step you have to make the Payment for Registration.  Once the Registration Form is submitted, the “Payment of Advance Contribution” page will be open.  Fill in the amount to be paid and select the payment mode.  Payment of advance contribution for 6 months is required to be remitted.

Step 5 :  This is where you will be sent a system generated “Registration Letter”.  This will contain a 17 digit Registration Number and is a valid proof of registration of the employer under the ESI Scheme.

Documents Required for ESI Registration

The following documents have to be scanned and uploaded

  1. Company Pan Card (Scan Copy & Hard Copy)
  2. Partners/Directors Pan Card (Scan Copy & Hard Copy)
  3. Current Account Cancelled Cheque Leaf (Scan Copy & Hard Copy)
  4. Company Registration Copy (ROC / Partnership Deed)
  5. Partners Details (Name, DOB, Father Name, Partnership starting date)
  6. Employees Aadhaar Card Copy
  7. Employees Bank Passbook Copy (If Gross is below 21 thousand)
  8. Digital Signature of Authorized Signatory
  9. Specimen Signature
  10. EPF & ESI Application forms
  11. GST Registrations Copy
  12. Rental/Lease Agreement

These two Acts have provided the employees and their dependents in the organized sector solace during times of adversity like ill-health and accidents and when they are in retirement.  They have been a great boon for such employees.

E-Nomination for Email Campaign

What are e-nomination in EPF and its importance?

What are e-nomination and its importance?

Nomination is a process to select one or more nominees as beneficiaries to receive the proceeds from EPF, EPS & EDLI on the demise of the member. The nominees could be the spouse, parents, children, and in some cases distant relatives and friends as given below.

A male EPF member can nominate his spouse, children, step children, dependent parents and his deceased son’s widow and children.  In the case of a female member, the nominee can be her husband, children, (whether married or unmarried) her dependent parents, her husband’s dependent parents and her deceased son’s widow and children.  The member can nominate only one or more persons belonging to the family.

Nomination made in favour of a person outside of the family is treated as invalid.  In case the member does not have a family at the time of joining EPF, he can nominate any other person or persons as nominee.  However, if subsequently the member acquires a family after some time, then the earlier nomination will become invalid and he has to make a fresh nomination in favour of one or more persons within the family.

If a member who is married nominates his or her spouse as nominee and subsequently if they get divorced, then he or she has to change the nomination as the earlier nomination becomes invalid.

For the EPS scheme a married member can nominate only his or her spouse and children.  In case the member has no family and has not made any nomination then the claims will go to the legal heirs.

The EPFO has been providing guidelines on e-nomination and its importance in the light of the Covid-19 pandemic sweeping the country.  The Covid-19 pandemic has pushed dependents of EPF members into deep trouble as they could not claim settlement due to the non-filing of nominees in the concerned accounts.

Nominating a person to receive the proceeds from EPF, EPS, and EDLI is of utmost importance. Earlier members had to file Form-2 with the respective PF Office, but the Digital India programme has changed all that. A member can now sit in his home and update the nominee details in just a few minutes without any complications. With e-nomination, the members who have not submitted their nominee details can easily execute this important step. Under the present situation, this is a great boon to members and their dependents. This will surely go a long way in ensuring speedier settlement of claims in the event of the demise of a member.

How to file e-nomination?

Visit the EPFO website at www.epfindia.gov.in and select Services  >>  For Employees  – then click on “Member UAN/Online Services”.

  • Login with your Aadhar linked UAN and password
  • Select ‘e-nomination’ on opening the “Manage” tab
  • Enter all the details in the ‘Provide details’ tab and click on ‘Save’ button
  • To update family declaration click ‘Yes’
  • Click on ‘Add Family Details’ and furnish the required details
  • Click on ‘Nominee Details’ and provide the details and click on ‘Save EPF Nomination’
  • Next click on ‘E-sign’ to generate OTP on your registered mobile phone
  • Submit OTP sent to your mobile number (has to be linked with Aadhaar)
  • On successful verification, your e-nomination will be registered with the EPFO.
  • Documents required to be uploaded – Member Aadhaar with updated photograph and Nominee Photograph, Aadhaar and Bank details with IFSC code and address for both member and nominee.

Last date for filing nominee details

December 31, 2021 was reported to be the last date to update nominee details through the e-nomination portal. However, EPFO has clarified that one can update the nominee details even beyond December 31, 2021, and that no deadline has been set for the same as of now.

GetifyHR is fully geared to assist employers and through them the employees to update nominee details. Our Payroll Module has been fully updated to handle this issue in an easy and simplified manner. You can trust us to be with you always!

attendance management BLOG

Is managing Employee attendance a tedious and frustrating operation

Ask any HR Manager and he will tell you that the most valuable resource in the organization is the employees. Managing them resourcefully will bring success, whereas poor management of this resource will bring failure. How do you manage this resource? Well, the answer is simple. If your attendance management is poor and leads to frustration, you can be sure that the productivity of the company suffers and this will lead to reduced profits.

What you need is an efficiently performing attendance management system that can improve the overall efficiency.

This concise Q & A session will give you a clear picture of how to improve productivity by efficiently managing your employee attendance.

What is the ideal way to manage employee attendance efficiently?

A poorly managed attendance Management will negatively affect the payroll.  Any errors in your attendance will result in either over-paying or underpaying your employees. When you are manually managing the attendance you not only consume more time but are also prone to serious errors. If your workforce is large and spread over different locations, then you can imagine the problems this would cause to your payroll and the ramifications thereon.

Using custom-made software or other applications will not improve the situation much. The most effective solution is to take the services of an outsourcer offering Payroll Software that is fully integrated with HR Management. The attendance module in this package will process the data and provide error-free calculation of working hours, overtime, and loss of pay details. This will make payroll processing easier and simpler and provide highly accurate output.

Why is it important to have a clear Attendance Policy?

Formulating a clear Attendance Policy is the first step in managing your attendance effectively, and this is one of the biggest problems faced by companies. When you don’t have a clear Attendance Policy, you will not be able to regulate attendance effectively. By using a software or application, you will not be able to manage attendance properly as they are time-consuming and prone to errors.

The ideal solution is outsourcing. When you outsource these operations to an efficient service provider, you can rest assured of a high-performing system that will give error-free results. When you outsource, you will be able to formulate a clear Attendance Policy. By doing so you will be able to arrange the shifts, shift timings, week-off policies and create attendance regulations for each employee based on the nature of duty. This paves the way for systematic and error-free attendance management and relieves the management from a lot of stress.

Do you feel that lack of efficient connectivity is creating confusion for both the employees and the management?

Lack of proper connectivity affects both the employees and employers. For employees, the need is to have their attendance details easily accessible and at the required time. This will not be possible when you are using software or application that has their limitations. With an outsourced, cloud-based package you can be assured of an application that is accessible from any device. Mobile connectivity is the need of the hour and this is what you get when you outsource to an efficient Service Provider.

Easy access to attendance reports using a Smartphone will enable the employee and employer to access valuable information on the move. These applications are provided with an efficient ESS portal that allows access to data from anywhere. Location-wise, shift-wise information is now at your fingertips.

Are you in a situation where you are not able to keep track of your employees?

This is a situation that many employers find themselves in especially when there is a distribution of workforce across different locations. Custom-built software or applications will not be able to handle this aspect effectively.

If you are looking to keep track of all your employees and gauge their performance, then the ideal solution is to outsource to a Service Provider.

When you associate with a Service Provider like GetifyHR, you are associating with a high-performance cloud-based tool that keeps perfect track of all your employees on a day-to-day basis. This system is supported by Geo-tracking and Geo-fencing facilities, and this helps to locate each employee concerning the location he or she is posted. The log-in and log-out times are properly recorded and with the integrated Biometric that is in-built, the performance of each employee comes under minute scrutiny. The HR team will have access to records that allows them to make the right decisions on the allotment of work to the right employees in different locations.

Conclusion

An efficient Attendance Management system is the best solution to avoid employee-related issues. Present-day businesses are in dire need of a perfectly working application that integrates Payroll, HR management, Attendance & Leave Management, and Statutory Compliance rules and regulations. Only then can the management and employees work cohesively for the growth of the organization.

GetifyHR with its proven experience and professional approach in handling these tasks is the ideal choice to associate with. Our cloud-based application can seamlessly handle Payroll, HR management, Attendance & Leave management, and Statutory Compliance requirements with perfect integration.

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What are the challenges faced by Employers in managing Employee Leave?

Leave management is a highly challenging task that can frustrate even the best of HR Managers. The use of outdated processes worsens the scenario and you are left with anxiety and frustration on both the employer and employee sides. The use of outdated tools and manual errors that creep in while entering the data gives room for inaccuracies. There is nothing worse than seeing inaccuracies in one’s leave balances.

This would create chaos for both the Administration and the employees and will have a negative impact on the business.

What is Leave Management?

Leave management is a set of processes that tracks the employee leave in an organization. Right from receiving the leave application, leave approval or rejection and tracking of employee leave is a task that needs a high degree of perfection. The task includes routing the application through a hierarchy of decision-makers, taking the decision and notifying it to the employee, updating the payroll and the employee attendance records, and the company’s leave policies.

This article discusses a few of the challenges faced by employers in managing employee leave.

1.  Are Employees aware of the number of leave days they have left?

No. Most employees are not aware of their leave dues. This is one of the biggest challenges faced by the employer, a challenge that both the HR team and the employees are left searching for an answer. The reason is that it is pretty difficult to keep track of the number of days left when you use outdated applications. When an employee is not aware of the number of leave days he has, he will send a request to the HR team to get the answer. This prevents them to plan their activity as the answer has to come from the HR team. This takes time and in the meantime, the employee stands to lose time and money.

During this process, the HR team will be flooded with leave applications and will lose valuable time confirming the leave dues of each employee. This will reduce their time and business activities and become frustrating for both the HR team and the employees. The ideal solution in this situation is to outsource Leave Management to an efficient service provider who can handle all aspects of Payroll including Leave management.

GetifyHR is ideally placed to provide this service with its efficient cloud-based payroll application.

2.  Do Inaccuracies in the Payroll create problems in managing leave?

Yes. Inaccuracies in payroll do create problems in managing leave. When we use outdated applications, the possibility of errors creeping in is high. The Payroll reflects such errors in the Leave management module.  This will create more problems for both the HR team and the employees. For example, in cases where some leave are paid and some unpaid, if improper entries are made then you are sure to get inaccurate reports. You will not be able to confirm the dues correctly and this will lead to confusion and distrust between the employer and the employee.

The only solution is to opt for an outsourcing module that provides a full-fledged automation system that seamlessly integrates all the modules of Payroll, HR management, Attendance and Leave management, and Statutory Compliance. This will help you to maintain greater accuracy and make your payroll and leave records error-free.

3.  Does following a proper Leave Policy assist accurate leave management?

Yes, maintaining a proper Leave Policy will help you to handle leave much more accurately. The Leave Policy of each organization has to be properly framed according to the work culture of the company. Once this is properly established, you will be able to handle the leave of employees in a perfect and non-discriminatory manner. This leave policy has to be shared with each employee so that they are fully aware of their leave dues. The moment such a system is in place, and then all the problems associated with employee leave will become simpler and error-free. This will also enable proper scheduling or re-scheduling of leave according to the needs of the employees.

4.  Does an inefficient Leave Management System leave the employer and the employees frustrated?

Yes, when you depend on an inefficient Leave management system both the employer and employee are frustrated. The frustration stems from the inadequacies in the leave management system and the unintentional errors in data entry that give erroneous reports. Some companies still depend on spreadsheets and other outdated applications that prove to be inadequate to handle leave. This creates a lot of confusion when a leave request is made and what we get are a highly frustrated employee and an apologetic HR team.

This is not a happy situation to be in and the only solution is to outsource your payroll to an efficient service provider. GetifyHR with its vast experience and backing of a professional team is the ideal choice in this situation.

Conclusion

We have highlighted the importance of an efficiently working Leave Management module if you are to avoid leave related problems with your employees. Under the present scenario, the ideal choice is to outsource this task to a reputed service provider. Present-day business requires a Payroll and HR management system that can not only handle Payroll but also HR activities like Attendance and Leave management and Statutory Compliance issues.

Choosing a cloud-based application is ideal as it is not only efficient but also reduces the expenditure on special hardware. GetifyHR, with its proven experience and professionalism, offers the ideal tool to handle these tasks. The outsourcing application offered by GetifyHR can seamlessly handle Payroll, HR Management, Attendance & Leave Management, and Statutory Compliance requirements.

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How Payroll Outsourcing can help your Business?

Payroll Management is a time consuming and tedious process when attempted manually.  The inaccuracies that creep in will not only create greater headaches for the management, but will also provide ammunition to the employee to question them.  This would create mutual distrust and lead to production losses.

Being a highly critical operation in any business, the payroll operations can be efficiently serviced by outsourcing to professional service providers.  Payroll outsourcing provides great benefits as it not only brings greater accuracy in the rather mundane task, but also enables the HR team to focus on more important operations of the company.

The COVID-19 pandemic has forced companies to re-adjust their functioning and this has entailed greater use of technology and professional expertise to optimise productivity and improve efficiency.  This pandemic has thrown regular working out-of -gear and also forced governments to constantly modify their rules and regulations to suit the employees.  This has necessitated the management to get regularly updated, and the best way to achieve this is by outsourcing your payroll to professional service providers.

What is Payroll Outsourcing?

Payroll Outsourcing is a process in which businesses hire the services of professional firms to manage all the payroll functions.   This not only save money, time and effort, but also frees time for their HR team to focus more on the core activities of the company.  When compared with in-house payroll management, outsourcing payroll provides greater accuracy and saves time.  In this article we shall delve deeper into the benefits of payroll outsourcing and how it helps businesses to grow.

Saves time and improvise productivity.

Manual payroll processing or in-house payroll processing is both time consuming, costly and frustrating.  Generating the payslips on time, every time, keeping track of the deductions, the dues, fresh hires, terminations, and complying with the Government’s statutory requirements are all a highly complex task.  Whether we like it or not, these have to be generated time and again without excuses and without mistakes.

When you outsource this operation to a professional service provider, you save time, and manpower and this will allow you to focus more on core business activities.  The HR team and the Accounting department are free to use their expertise on other important tasks that would improve productivity.

Minimizing Expenses

Minimizing Expenses is a vital factor when you are looking to improve your company’s income.  This can happen only when you are able to save time as the more time you save the more you earn. By outsourcing payroll to a professional service provider, you can be assured that all information regarding payslips, deductions, tax dues and statutory returns are managed in a cost-effective manner.

Payroll tasks like generating the payslips, calculating the deductions, the hours worked, paid time-off, leave availed, disbursing the pay checks, filing the tax returns are generated with ease and just with the click of a few buttons.  This enables the saving of time which when factored with the cost will show tremendous saving. This not only allows you to refocus the role of your HR team, but also ensures cost cutting due to use of technology, reduction in man-hours and space required to house the payroll department.

Overall, payroll outsourcing takes on the task of tracking the employees, reconciling the accounts, and managing the complex statutory compliance issues and tax administration.

Usage of latest technology!

The past few years have shown rapid technological advancements in the use of computers and the internet.  Top ranking Payroll Service Providers use the highly advanced cloud-based systems to manage business data.  This makes the system more efficient and robust, and provides greater accuracy and transparency in payroll processing.

Professional Payroll Service providers like GetifyHR use advanced payroll technologies to manage the process with ease by seamlessly integrating Payroll Management, HR Management, Attendance & Leave management, Task management and Statutory Compliance.

Enhances the functioning of HR Department.

One of the important benefits of Payroll Outsourcing is in freeing the HR department to focus more on core business activities.  Manual payroll processing or in-house payroll processing will force the HR Department to concentrate more on this aspect thus disrupting their role in recruitment and employee retainment issues.  Outsourcing this activity will allow the HR team to focus on core functions such as:

  • Monitoring the Employees
  • Improving Employee retention
  • Attracting better talent through job satisfaction
  • Simplifying the process of onboarding
  • Arranging training sessions to reduce the skill gaps

In effect, the HR team becomes more dynamic and can specialize in people management for the benefit of the company.

Ensuring enhanced security of data.

Payroll processing is a complex process that has its own risks.  The risks are mainly identity theft, tampering with data for personal gain, and misappropriation of funds.  Outsourcing payroll to a reputed service provider can bring in a high degree of security.  The important data is stored in highly secure cloud-based servers that ensure the very best of protection and data encryption.

Implementing Statutory Compliance.

Statutory Compliance is a critical component of business functioning.  Whether you have 20 employees or 100 employees, every business is liable to comply with Government rules and regulations.  Complying provides protection to companies to avoid legal issues.

When you outsource payroll, the process is simplified and enables the company to comply and avoid payment of fines and other legal issues.  The government regulations are prone to frequent change, therefore, the company has to be full updated as and when the changes are made. This task is easily enabled when you outsource payroll.  A professional payroll outsourcing service provider has a team of dedicated experts to keep clients updated of the changes, thus ensuring compliance at all times.

Efficient Employee Self-Service features

Providing an efficient Employee Self-Service (ESS) facility is an important feature that you can access when you outsource your payroll.  Having an integrated payroll system with an employee self-service option has a lot of benefits to both the employees and the employer.  Some of these benefits include:

  • Assignment of tasks in a hierarchical fashion.
  • Monitor the time each employee spends on a task.
  • Update the personal information of employees
  • Previewing pay information
  • Viewing the Attendance & Leave information
  • Providing Mobile apps and remote access to the services.

GetifyHR provides high performance payroll outsourcing module that encompasses an efficient ESS system.

Conclusion

Payroll processing is a critical business function that may not directly affect the business.  However, if the process is inefficient, the overall business would be badly affected. A professional payroll outsourcing service provider offers a platform that integrates Payroll management, HR management, Attendance & Leave management, Statutory Compliance and Task management.

GetifyHR has achieved excellent results with its integrated cloud-based payroll module.  You can be assured of high level accuracy and the support of highly qualified experts to manage your payroll. This will not only enhance productivity but also give the client the ability to focus fully on growing the business.

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Risks of Non-Compliance and How to Avoid Compliance Penalties?

Compliance is a generalized term that indicates adherence to varying rules and laws passed by the Government. Statutory Compliance is complying with or adhering to rules and laws about labour and human resource.

Organizations that employ people are required to follow a set of guidelines that fall under statutory compliance. Penalties include fines and in some cases imprisonment if companies fail to fully comply with these rules and regulations. Following these rules and laws is, therefore, very important for the organization if it needs to function smoothly. In this article, we will discuss how companies can avoid compliance penalties.

What are the risks of non-compliance?

Statutory compliance is vital for any company and their HR teams have to be on their toes to frequently update the new regulations and see that the company is fully compliant. Let us first understand the consequences of failing to comply with the rules and regulations.

Fines

The first risk of non-compliance is the possibility of fines.  Governing bodies have put in place stringent penalties to compel companies to comply with the rules and regulations, and fines are their first line of penalties.  Thousands of rupees are collected as fines for non-compliance and the amounts would vary based on the seriousness of the offense. This entails that you not only have to pay the fines but will also have to spend for legal costs.

Imprisonment

For very serious lapses in complying with the Statutory Compliance rules and regulations, imprisonment of up to 6 months with or without fines is enforced.

Loss of Reputation

One of the serious outcomes of non-compliance is the loss of reputation suffered by the company and this, in turn, will amount to a loss of customers.

Dissatisfaction of Employees

When penal action is taken against a company for non-compliance it also brings in dissatisfaction within the employees as non-compliance of any degree would also affect them. This would in turn bring about unwanted tension and would provide enough fodder for potential employees to stay away from joining the company. Employee retention would suffer and it also curtails the entry of new employees. Overall this would harm the company’s working.

Loss of Productivity

Non-compliance would also result in loss of production due to the stoppage of production brought about by unscheduled inspections and audits by the authorities. This would lead to a waste of time and money. In cases where non-compliance is serious, the authorities can even order companies to suspend operations.

What are the Acts businesses have to comply with?

Before we venture into the penalties of non-compliance with Statutory Compliance rules and regulations, let’s have a look at what these Acts are that all businesses have to comply with.  We can divide these Acts into 5 sections.  They are:

  1. Acts that control Wages
  2. Acts that provide for Social Security
  3. Acts that control Industrial Relations
  4. Acts to benefit Women and
  5. Acts that control other aspects of the employees

1.  Acts that control Wages

1.1  Payment of Wages Act, 1936

1.2  Minimum Wages Act, 1948

1.3  Payment of Bonus Act, 1965

1.4  Equal Remuneration Act, 1976

2.  Acts that provide for Social Security

2.1  Employees’ Provident Fund Act, 1952

2.2  Employees’ State Insurance Act, 1948

2.3  Payment of Gratuity Act, 1972

2.4  Labour Welfare Fund Act, 1965

3.  Acts that control Industrial Relations

3.1  Industrial Disputes Act, 1947

3.2  Industrial Employment (Standing Orders) Act, 1946

3.3  Trade Unions Act, 1926

3.4  Factories Act, 1948

3.5  Shops and Establishment Act, 1947

3.6  The Industrial Establishment Act, 1963

4.  Acts for the benefit of Women

4.1  Equal Remuneration Act, 1976

4.2  Maternity Benefit Act, 1961

4.3  Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013

5.  Other Acts

Apart from these a group of Acts is in force to take care of other aspects of the employee that does not find representation in the above mentioned Acts. They are:

5.1  The Professional Tax Act, 1975

5.2  The Child Labour (Prohibition & Regulation Act, 1986

5.3  The Contract Labour (Regulation and Abolition) Act, 1970

5.4  The Employment Exchange (Compulsory Notification of Vacancies) Act, 1959

5.5  The Apprentice Act, 19651

5.6  The Employees Compensation Act, 1923

5.7  The Interstate  Migrant Workmen (Regulation and Conditions of Services) Act, 1979

What are the penalties for non-compliance?

Statutory Compliance is a critical aspect of any business or organization. Failure to comply with these statutory requirements can pose immense problems. These include penalties in the form of fines and imprisonment when the non-compliance issue is serious. We shall briefly discuss the penalties under the various important Acts pertaining to Payment of Wages and Social Security in the following paragraphs.

1.  Penalty for non-compliance with the EPF Act, 1952

Any person who fails to pay the contribution towards EPF or makes false statements or representation is liable to be punished with imprisonment for a period that may extend up to 1 year or with a fine of ₹5000/- or with both. The Act also enforces penalties for non-payment of inspection charges or administrative charges. The penalty for such non-compliance is punishable with imprisonment for a period that is not less than 6 months and may extend up to 1 year and a fine of ₹5000/-.

However, if the employee contribution is also not paid then the punishment may extend to a term of 3 years but not less than 1 year and a fine of ₹10000/-.

The filing date for the Monthly EPF returns is 25th of each month, and for the Annual Return under Form 3A and 6A it is on or before the 30th of April every year. The Act also requires the filing of Form 2, Form 5, and Form 10 as and when required.

2.  Penalty for non-compliance with the ESI Act, 1948

Penalties for non-payment, delayed payment, or falsifying payments and returns include imprisonment for a period extending up to 2 years and a fine of ₹5,000/-. For non-payment, simple interest @ 12% per annum for each day of delay is collected.

Filing of return for the half-year from April to September is on or before 12th November, and for  the period October to March is on or before 12 May.

3.  Penalty for non-payment of Gratuity under the Payment of Gratuity Act, 1972

Failure to make the gratuity payment or providing false statement or giving false representation is punishable with imprisonment for a term which may extend to six months or with a fine of ₹1000/- or with both. As soon as the Gratuity is due, the employer shall determine the amount due to the employee. The amount has to be paid to the employee within 30 days from the date it becomes payable.

4.  Penalty under Labour Welfare Fund Act, 1965

In Tamilnadu, if any person who willfully fails to produce any document required by the Board or fails to furnish any information called for by the Board or fails to comply with any directions issued by the Board is liable to be imprisoned for a term or 3 months or with fine of five hundred rupees or with both.

The rules vary from state to state. The Labour Welfare Fund requires the filing of an annual return and the dates vary from state to state. In Tamil Nadu, the due date is 31st January of every year.

5.  Penalty for non-payment of wages under the Payment of Wages Act, 1936

Wages have to be disbursed to the employees on the dates mentioned in the state’s Payment of Wages Act. For non-payment of wages on time by the employer a penalty in the form of a fine not less than ₹1000/- that may extend to ₹5000 is enforced.  For subsequent convictions the fine will not be less than ₹5000/- and may extend up to ₹10000/-.

Similarly, for failing to maintain the register or not furnishing the required information or giving false information, the fine shall not be less than ₹1000/- and may extend up to ₹5000/-. For repeat conviction of non-payment of wages, imprisonment not less than one month which may extend up to 6 months, and fine not less than ₹2000/- and extendable up to ₹15000/- may be collected. There is also provision for collecting additional fine up to ₹100/- per day.

This is a state subject and therefore varies from state to state. In Tamil Nadu, an Annual Return in Form IV has to be filed with the Inspector within the jurisdiction of the factory or industrial establishment not later than 31st January of each year.

6.  Penalty for non-payment of minimum wages under the Minimum Wages Act, 1948

Non-payment of minimum wages as per the Minimum Wages Act, 1948 is punishable under section 22 of the Act by imprisonment up to 6 months or fine or both. This may differ from state to state. Incidentally, the Delhi Government has increased the fine from ₹500/- to ₹50000/- for non-payment of Minimum wages and the imprisonment has been increased from 6 months to 3 years.

This is state-specific and varies from state to state. In Tamil Nadu, filing of an Annual return in Form III is mandatory, and the Government will notify the dates.

7.  Penalty for non-compliance with the Payment of Bonus Act, 1965

If any person does not comply with the provisions of the Bonus Act 1965 or any rule made thereunder or fails to meet the direction or requisition, shall be punishable for a term which may extend up to 6 months or with a fine of ₹1000/- or with both. However, if there is a dispute and the employer and employees are not in agreement with the terms, then the issue comes under the purview of the Industrial Disputes Act.

The annual return under Form D for payment under the Bonus Act has to be filed for every calendar year before 1st February of the following year irrespective of the financial year that an employer follows.

8.  Penalty for non-compliance with the Equal Remuneration Act, 1976

If an employee contravenes the provisions of the Act by not paying equal remuneration to men and women workers for the same work or work of similar nature, or discriminates between men and women, he shall be punishable with a fine which shall not be less than ₹1000/- which may extend to ₹ 20000/- or with imprisonment for a term which shall be not less than 3 months but which may extend for 1 year or with both. For subsequent offenses, the imprisonment may extend to two years.

If the employer omits or fails to maintain any registers or other documents, or fails to produce when called for, or refuses to produce the same, he will be punishable with simple imprisonment for a term which may extend to one month or with a fine which may extend to ₹ 10000/- or with both.

The Act does not require the submission of any return. However, the employer has to maintain a Register of employed in Form D that has to be produced before the Inspector appointed under the Act.

How do you avoid the risks of non-compliance?

Payroll is a vital part of any organization that employs people. Businesses generally maintain their payroll function in-house either manually or by relying on a do-it-yourself payroll application. Whether you perform this task manually using a desktop with customized software or an online solution, there are serious issues especially when it comes to statutory compliance. Doing it in-house may not be able to keep you fully updated on the changes and this would pose serious problems in the working of the business.

Payroll and Statutory Compliance tasks are time-consuming and complicated. Any mistakes in payslip generation or filing the compliance reports would have serious consequences. The best option is to outsource this task to a reputed concern whose payroll module and expertise in statutory compliance would help to drastically reduce the burden and the risks.

The present crop of high-tech firms offers a lasting solution to this vexing problem. This would not only help to reduce the in-house workload but also help to generate the regular reports more accurately and in full compliance with the rules and regulations. The present-day payroll packages using cloud technology provide the ideal solution.

Outsourcing to a company like GetifyHR helps the organization to mitigate risks and lessens the in-house workload. This can help the company to regularly identify compliance obligations and act accordingly. GetifyH, with its vast experience in managing Payroll and Statutory Compliance issues, has the right tools and trained professionals to handle this task with ease. This will enable the company to focus fully on developing the business.

Conclusion

Statutory Compliance is a highly complicated function and companies should be on their toes to keep themselves fully updated on the changes in rules and regulations. When you get the assistance of professional service providers, you get the required expertise to guide you and keep you fully updated. You will not only be able to mitigate the risks but would also be able to:

  • Identify the compliance obligations and keep abreast of the changes.
  • Meet all compliance rules and regulations.
  • Ensure filing of returns, and remittance of dues to the department on time, without any mistakes.
  • Ensure that the employees get their share of remittances regularly under prevailing rates.
  • Streamline the workflow and help the HR team to focus more on managing the staff and employees.
  • Storing the information in an organized manner for future use by the accounts department.
  • Providing adequate security to vital data.

Failure to comply with government rules and regulations can endanger your profitability. As an employer, you are duty-bound to comply with these rules and regulations and the best option is to outsource these operations to a company like GetifyHR. You not only reduce your stress levels but will also be able to free time for your HR teams in particular. This will help you to focus more on business development.

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A quick guide to choosing the Right Payroll Outsourcing company

Introduction

Businesses should focus fully on their core activity and what they are good at and leave other functions to experts. Payroll is one of those functions that deserve the assistance of experts.

Payroll processing is not only a vital function but is also a highly complex operation and when managed perfectly will save the company a lot of time, money, and manpower. Outsourcing this vital operation to a reliable service provider is the best solution. Importantly, it will keep you on the right side of the law as it will enable you to stay compliant with the statutory rules and regulations.

The difficult part is to choose the right partner to handle the payroll operations. You should first decide whether you want to outsource the payroll module alone or also outsource to someone who can also handle the HR module. Ideally, it is advisable to outsource to a company that can handle both payroll and HR requirements as it will help you to handle month-end operations without much stress. Statistics show that one out of three employers has been penalized for mistakes in the payroll and for being non-compliant. This guide will enable you to ask the right questions and help you to make the right choice.

What do you need to decide first and foremost?

Before we jump into the aspect of choosing the outsourcer, you have to be very clear about what your requirements are.

– First, identify your company’s needs very clearly.

– Decide on your plans for future developments.

– Decide on how much funds you can allocate for this operation

– Be clear about the number of employees whose payroll will be handled by the service provider.

– List out the Statutory Compliant rules and regulations that you have to comply with.

– Whether future staff/employee recruitments will also be handled by the outsourcer.

– Whether you require a fully functional Employee Self Service portal to track time and attendance.

Tips to choose the right service provider

The next step is to choose the Payroll Service Provider that best suits your requirements. Here are a few points that you have to look for in an outsourcing partner before you hand over this vital operation.

  1. Choose an outsourcer who is efficient in handling Payroll and HR management.
  2. Verify their Experience.
  3. Identify the Specializations that they handle.
  4. Software features that they offer and the technology that they use.
  5. Who takes responsibility for mistakes?
  6. Flexibility in information transfer.
  7. Whether the vital data is secure?
  8. Their Service commitment.
  9. Pricing of their Services.
  10. Their ability to handle Statutory Rules and Regulations.

Let us now delve deeper into these points to understand their importance and why we should have the right answers before making our choice.

1.  Choose an outsourcer who can handle both Payroll and HR management:

This is the ideal choice because you will be able to free a lot of time for your HR team to handle the more important core business activities. On the other hand, if you outsource these activities to two different companies you may not be able to function smoothly. A sound choice made here would enable you to handle these issues without much stress and you will find that the operations work seamlessly without any hiccups.

2.  Verify their Experience:

This is very important as this industry matures with experience, the more the experience, the better the service. You can verify with the clients of the service providers about their experience before making your choice.

3. Identify the Specialization that they handle:

Identify whether they can handle the Payroll and HR operations of the core sector that you handle. Every industry has its complexity when it comes to Payroll and HR management, therefore handing over this operation to someone who is not specialized in this activity will only create complications that would upset the entire working of the organization.

4.  Software features that they offer and the technology they use:

The use of advanced technology has vastly improved the performance of the applications that are now on offer in the industry. Look for a service provider who is using cloud technology to store data as this would lessen your burden of equipping yourself with more advanced hardware.

Ensure that the outsourcer has the necessary technical skills to upgrade and customize the application as and when required. Verify the usability of the reports and whether they conform to industry standards. Features like the Employee Self Service (ESS) module that the employee can access are important in today’s working atmosphere.

5.  Responsibility for mistakes:

You have to determine who will take responsibility for the mistakes in reporting and the subsequent penalties that the company has to bear.

6.  Flexibility in information transfer:

The Service Provider should be in a position to provide flexibility in the way the information gets transferred. You should be able to print the reports, or post them to the net or transmit them in the form of a data file. They should be able to find a solution when there is some break in transmission.

7.  Whether the data is secure:

Data security is a vital factor in outsourcing. Your data is highly sensitive and you must verify that it is securely encrypted and has full control over who can access it.

8.  Service:

Timely service is vital for a process of this nature. Verify that the outsourcer is in a position to provide service always and not only on the days that the payroll is generated.

9.  Pricing of the Service:

Understand fully the cost for the package and see that all the features that you require are included in the entire package. Before you sign on the dotted line verify these facts.  Any misunderstanding here will create a lot of unpleasantness later.

10.  Ability to handle Statutory Rules and Regulations:

This is a highly critical area in any business and any weakness in one’s ability to comply with the government laws will bring greater problems by way of penalties that could be in the form of fines or some cases imprisonment. Make sure that the service provider is efficient in handling statutory compliant issues and is well prepared to handle changes as and when they occur.

Conclusion

Outsourcing your Payroll and HR management operations to an efficient Service Provider is a choice that makes the entire business run easier, quicker, and more efficiently. Since most outsourcers provide a package that integrates Payroll operations and HR Management, you can rest assured of a seamlessly running package that provides all information as and when you require them with greater accuracy. This not only saves you time and money but will also enable your HR team to concentrate more on core activities rather than on the mundane payroll activities. This will enable the entire workforce to perform with greater efficiency and in the long run, will bring greater growth.

GetifyHR is one of the top-rated payroll outsourcing companies in the industry and has over the years built a large number of satisfied clientele. We have the expertise to cater to a wide array of business needs and that could transfer to greater growth to the client. Whether your business is big or small, an association with an experienced and committed payroll outsourcing service provider will bring about a quantitative change in its growth. The tips given here are the result of serious research and we are sure you will be able to make the right choice in your search for a payroll outsourcing company.