Checklist to assist businesses to step into the New Financial Year

How to prepare a checklist to assist businesses to step into the New Financial Year?

by with No Comment BusinessNews & Updates

The closing of the financial year and the opening of the new financial year are significant timelines for the growth of an organization. The financial year ending is a great opportunity to look within and to analyse and assess the performance of the business, a time to take stock and make your plans for the new financial year to come.

These activities, taking stock, analysing, and planning can be overwhelming tasks at times, but they are the key to running a successful business venture. This is also the time to re-assess your goals and to take corrective measures to enable the achievement of these goals in the forthcoming financial year. The best way to achieve this is by closely scrutinizing your finances and reassessing your financial practices. This is the time to prepare your checklist for the new financial year. This will help you to streamline your workflow and give you the head start to make the new financial year a successful one.

Financial year-end Checklist for businesses!

  • Prepare Key financial statements/documents
  • Conduct statutory Audit
  • Renew all the licenses and registrations
  • Reassess your goals and prepare for the future
  • Review your business and marketing plans
  • Consider financing options for expansion
  • Assess employee performance
  • Self-evaluate
1.  Prepare key Financial statements/documents

Apart from paying the Advance Tax, the key financial statements must be accurately prepared to ascertain the financial position of the company. The key financial statements are the Balance Sheet, the Profit and Loss A/c, and the Cash Flow statement. These financial statements provide the details of the Assets and Liabilities of the company, the Profit or Loss, and the Cash flow position of the company.

Overall they allow you to calculate the current ratios, debts, and profit ratios for that particular year.

2.  Conduct Statutory Audit

A statutory Audit is a must for any business that is registered as a Private Limited Company. All the Books of the Company have to be audited before the financial year-end. However, for businesses that are registered as a partnership firm or LLP having a turnover that is below 40 lakhs then, a Statutory audit is not required.

3.  Renewal of Licences and Registrations

Every business owner is required to keep track of all the licenses or Registrations that they have taken for the conduct of their business. Normally, these licenses/registrations are to be renewed every year, especially before the end of the financial year. This activity has to be taken care of by the end of the financial year.

4.  Reassess your Goals and prepare for the future

The goals that you have set for the business have to be first analysed. List out the goals and try to assess whether you have met those goals. If not, analyse and find out the reasons that you could not achieve your goals. Identify the areas that you have failed. Reassess the goals in light of your strengths and weaknesses. A SWOT (Strengths, Weaknesses, Opposition, and Threat) assessment will greatly assist you in providing better insights and allow you to make critical changes in your business goals and activities.  These insights will help you to plan for the year to come.

5.  Reassess your Business and Marketing plans

The end of the financial year is the ideal time to reassess your Business and marketing plans. This will enable you to review your short and long terms goals and make changes accordingly. It will enable you to review your sales and marketing budgets and get proper insights into better business strategies. This activity will also enable the business to review the market potential and the competition and would also throw light on new business opportunities.

6.  Consider additional finance option

If business expansion is one of the changes you envisage or if you need higher cash flow for the new financial year, then it would be worthwhile to consider additional finance options. The additional finance could be for development projects or adding to the company’s assets like purchasing a vehicle, machinery, or other types of equipment.

You can consult with your Bank for business loans, an overdraft, or a business credit card. The choice would depend on your circumstances. If there is an option to avail of a government grant you can proceed with that option. Crowd funding is also an option that you can explore as it is very commonly used nowadays to promote business, especially for start-ups.

7.  Assess Employee Performance

Employees are a vital cog in any business organization. Keeping the morale of the employees high is important and maintaining their loyalty is vital for growth. For this, you need to review your compensation and benefits structure and make sure they are in line with the industry and your business values. The compensation and the benefits that you offer have to be competitive enough if you are to hold on to your efficient employees and improve employee retention.

Companies that maintain such promotional paths reap significant gains in the loyalty and longevity of their employees. If you are looking to foster job satisfaction and loyalty among the employees you have to not only provide incentives but also be ready with a strong growth path that would empower the employees and boost their morale. This apart, planning a vacation with the employees, especially during the lean periods is another way to maintain job satisfaction among the employees.

8.  Self-evaluation and improving leadership

The earlier nine points in the checklist dealt with the performance of the company and its employees.

This checklist is incomplete if it does not have a point about evaluating the leadership and the leadership team. Every company should take time to reflect on its own leadership and the leadership team.

Objectively evaluate the performance during the year that is going to end. Find out the areas where there were shortcomings. Identify the areas that you think need improvement. This could be in the areas of time management, communication with employees, work culture, employee performance review, your understanding of business financials, business acumen, and your knowledge of the industry.

With this information, you will be able to implement a self-improvement plan for the new financial year. This will enable you to schedule time for yourself to not only learn and improve your business leadership skills but also encourage your leadership team to improve performance for their growth and the company’s growth.

Conclusion

Preparing a checklist for the new financial year is a must for any business. This will help you to objectively reassess the performance of the company and provide insights to make necessary changes wherever required to promote greater growth. This activity will help you to prepare better for the forthcoming financial year and guide you to improve your all-around performance.

This is also the time for certain companies, especially those that have challenges in preparing accurate payroll and handling all Statutory compliance issues, to introspect and decide whether they need to get expert assistance in handling their Payroll and HR management. GetifyHR has been a leader in outsourcing Payroll and HR management and has the expertise and technology to handle this critical task with a great degree of accuracy and sophistication. Well, we will be able to handle the financial year-end pressures and ensure a smooth transition to the new financial year with the least bit of stress. Stay 100% compliant with GetifyHR!

 

late commers

How to avoid/reduce latecomers in the industry/establishment?

by with No Comment AdvertisingBusiness

Employers expect employees to be punctual in their work. Being punctual goes a long way in establishing greater workplace harmony and paves the way for establishing a better employer-employee relationship. Factors like excessive traffic, late running of trains or buses, or some unexpected family issues can sometimes make employees come late to work.

When these are not regular it is a non-issue but when coming late to work is habitual, then it becomes a serious issue and has to be nipped in the bud. Chronic lateness affects the workplace atmosphere and will contribute to significant time and cost implications that will have a negative effect on the company’s growth.

Being late regularly costs the company in payroll and has a negative effect on productivity. If this late coming remains unchecked it will set a bad example for other employees who may also be encouraged to start coming late for work. In this article, we offer tips to deal with habitual latecomers.

1. Frame proper ground rules

Establish a set of rules on coming late to work and communicate this to all the employees.

The policy should include:

• Employer expectations on the working time and the importance of starting work at the scheduled time.
• Avoid un-informed or non-approved late arrivals during work as this will disrupt the work atmosphere.
• Clearly define the consequences of arriving late to work.
• Decide on how to compensate for the time missed out by working extra during later working hours?
• The procedure for reporting late to work should include the details of the higher-ups who should be notified about coming late to work and when.

2. Take action immediately

When you identify a pattern of habitual late coming, don’t postpone speaking to the employee. The earlier you begin a dialogue with the habitual offender the better.

3. Talk to the employee and make your expectations clear

Sit with the employee and clearly explain what your expectations are and the consequences of coming late to work habitually. Present the facts and try to identify the reasons for the habitual late coming.

4. Set self-improvement goals

Once the discussion is over and you have explained your expectations and the consequences encourage the employee to set self-improvement goals. This should help the employee to break the habit and be on time or on the contrary you can suggest a reduced lunch break to compensate for the lost time.

5. Check for changes and show appreciation

Follow up on the discussion by encouraging the employee to overcome this habit of tardiness. Show that you care for his well-being and be appreciative of improvement in their habit. Appreciation sets the path for greater improvement and this may help to solve the problem.

6. Maintain a record of all discussions and interactions

Maintaining a record of the interactions with the employee will ensure that there are no miscommunications and leaves no room for any misunderstanding at a later date. Documenting the discussions and the steps taken to identify and correct the issues and the changes in the employee’s performance can be pinned to the employee’s HR file.

7. Enable automatic shutdown of the swiping machine after a particular period.

This is a very strict method used in some establishments. Activate automatic closure of the Swiping machine after the normal login time plus the grace time given for logging in has to be. If an employee reaches the workplace after the grace time, he has to get approval from the Manager/Supervisor and will be then allowed inside the premises using their password. This strict measure will ensure discipline.

8. Implement a ‘Send Home’ policy

Here the habitual latecomer is sent home when he or she arrives late for work. Warnings about earlier tardiness should precede this action. This will enable the employee to make a serious effort to reach on time as there is the fear that he or she would be sent home and would be marked absent.

Normally a grace period, say 15 minutes is given to every employee. If the employee doesn’t arrive within this grace period then he/she will be asked to go home. This ‘go home’ policy is a very effective tool in curbing the issue of coming late to the office.

9. Link punctuality with performance reviews.

Linking punctuality with performance reviews can also address the issue of habitual late coming. Performance reviews are important as it sets the tone for climbing up the ladder. Therefore, if your performance review is positive then the chances of moving up the ladder are greater. If you are a habitual latecomer it will reflect in your performance review and this in turn will negatively impact growth within the establishment.

10. Have a policy with a flexible work schedule.

Having a company policy that allows for a flexible work schedule is another option to handle the issue of habitual latecomers. For example, you can have a policy in place where the habitual latecomer is allowed to come late with the condition that this time is compensated during the day’s work schedule. This will help to avoid loss of working hours due to late coming. However, the problem with this policy is that when you allow it to one employee you should be prepared to allow it to others also.

Conclusion

Habitual latecomers harm the workplace and they may adversely affect the growth of the establishment. Therefore, it is in the interest of the employer to find ways to reduce this activity so that there is greater harmony in the workplace. The measures explained above will go a long way in reducing the issue of habitual late coming and set the tone for better employer-employee relationships.

GetifyHR, one of the leading outsourcers of payroll and HR management in this region has been able to guide our clients in successfully handling the issue of latecomers. Our solutions have enabled a large section of our clients to focus on core business activity thus enhancing growth. We are here to reduce the stress attributed to payroll and HR management.

January 23 is the right time to outsource your Payroll to GetifyHR!

January 2023 is the right time to outsource your Payroll to GetifyHR!

by with No Comment BusinessNews & Updates

When is the right time to outsource your Payroll? Well, this is the question that has put business owners in a real dilemma. On the one hand, they have to be right with the timing and on the other hand, they have to be right with the choice of the perfect outsourcer. A difficult task indeed for any establishment whether big or small.

Payroll processing is one of the most important non-core activities and will remain so in the future. Its importance has manifested in companies opting to outsource the process with the view to not only bring greater accuracy but also to keep the company fully compliant with all the Statutory Compliance rules and regulations. By doing so establishments have been able to create greater harmony in the workplace and have been on the right side of all tax and compliance laws.

The goal of every establishment is to achieve greater growth and as it grows the greater the need to have a perfectly working system to handle all compliance issues. This is not an easy task and one way to keep things moving smoothly is by outsourcing this process to a service provider. By outsourcing payroll, companies will be able to prioritize core business processes and strategies to guide the business toward its goal.

In this article, we will discuss the ideal time to outsource the payroll process to an external service provider and why GetifyHR would be the best choice to undertake the process.

When to Outsource your Payroll?

The beginning of the year is the ideal time to go live with your payroll processing. While this may not be the beginning of the financial year followed in India, which is from 1st April onwards, we at GetifyHR would recommend the month of January to go live with payroll processing through a service provider.

This is the time when employees normally resign and move on to greener pastures. Hiring new hands and retraining them is a task that most establishments shun and the sensible solution is to perfect the payroll processing activity so that you can avoid hiring employees for both the core activity and to exclusively handle the payroll process.

When you start your payroll process through an outsourcer during the month of January, you have a clear 3 months to complete the parallel runs and perfect the system. This allows the time to verify and correct all employee records and reports and streamline the demands of statutory compliance.

This will enable you to start the new financial year on a clean slate and give you adequate time to straighten all loose ends and see that you are starting the process perfectly.

The benefits of outsourcing the payroll!

Let’s briefly delve into the benefits of outsourcing your payroll processing to an external service provider. Payroll processing remains the most popular area among the non-core processes that organizations tend to outsource and their benefits are many.

1.  Leads to lower Upfront Investment

One of the most important benefits of outsourcing Payroll is that it leads to lowering the investments upfront.  Outsourcing helps in reducing the investment on costly hardware and accessories as the package relies on high-end cloud technology; therefore you can do away with costly hardware onsite.

2.  Maintain accurate records

Having a perfectly running payroll that generates highly accurate payslips and all related records remains the top requirement of every organization. Payroll generated with errors can create great disharmony in the workplace and throw all activities out of gear. This will inevitably affect the growth of the organization. Outsourcing assures you of a perfectly running payroll process that will help you to maintain highly accurate records, and this will go a long way in promoting workplace harmony and enhancing growth.

3.  Comprehensive Payroll Support

Outsourcing the Payroll ensures comprehensive payroll support. This means that all requirements of payroll and HR management are seamlessly handled so that your month-end stress is drastically reduced.  The high level of integration that these packages achieve enables smooth and comprehensive payroll operations. All the modules are perfectly integrated thus reducing the need for frequent key-ins.

For the management the biggest need is to have access to an array of highly useful MIS reports as and when required, and this is what you get when you outsource. Armed with these reports, the management will be in a position to take timely decisions that would ultimately lead to greater growth.

Data security is a vital factor when you are handling sensitive employee data. In-house payroll processing may not be secure enough and the leak of sensitive data is always a possibility. When you outsource the process to a service provider, you can greatly reduce the possibility of a leak of sensitive data. Outsourcers have a robust security system in place with proper backup and multiple server locations to ensure a high level of data security.

4.  Leveraging expertise to ensure compliance

Experts with deep knowledge of all payroll and compliance norms man outsourcing service agencies. By outsourcing you are shifting the onus of keeping the organization compliant to a team of highly efficient individuals. Outsourcing the payroll and HR process will enable companies to minimize compliance and regulatory risks. This will ensure that the company is compliant at all times.

There are a few more reasons why you should outsource your payroll to an external service provider. However, we shall take a detour from that topic and focus on why you should outsource to GetifyHR.

Why GetifyHR?

GetifyHR is one of the leading Payroll and HRMS outsourcing companies based out of Coimbatore. With a vast clientele spread across the country, we have been providing excellent service across states and platforms.

Our vision is to make GetifyHR one of the leading outsourcers in the industry. Simplifying the rather complex Payroll and HR operations has been our goal and this we have achieved through our commitment and dedication to providing the very best to our clients.

Ours is a highly efficient and fully functional module that can manage these complex operations in any organization. This is a high-end module using the latest cloud-based technology. The module fully automates the payroll and HR processes and empowers employees with a highly efficient self-service module. The important features of our module are briefly described hereunder.

Payroll Module

This is a module that simplifies the rather cumbersome and complex payroll process. The module is highly customizable and is fully integrated to maintain all the requirements of Payroll processing and HR management.

This includes generating highly accurate Payslips and the relevant reports, handling all statutory compliance requirements, and maintaining employee Leave & Attendance, and Recruitment. The module ensures the generation of accurate payslips and on-time disbursement of salaries every month. All reports required to keep the company compliant are readily available and it is only a matter of remitting the deductions to the authorities.

These activities can be performed without a hitch every month seamlessly and smoothly.

The module ensures accurate calculation of salaries and timely disbursement every month. This will pave the way for greater harmony within the workplace.

  • Salaries can be disbursed by cash, or cheque or can be directly transferred to the employees’ bank accounts
  • The payments can be released either Batch wise or Bank wise
  • Track the status of all cash and cheque payments.

Statutory Compliance Module

This module helps you to save precious time that you would have spent keeping yourself updated of the changes in compliance rules. The changes in EPF, ESI, and other labour laws are immediately updated in the system.

Similarly, changes in tax slabs are updated as and when announced so that the employees do not lose the benefit.

In other words, GetifyHR frees you from the burden of updating the changes in statutory rules and regulations and creates a stress-free month-end operation.

GetifyHR’s outsourcing module allows you to perform the following tasks:

  • Calculate PF deductions and generate ECR
  • Compute ESI
  • Calculate state-specific Professional Tax component
  • Calculate TDS and generate the returns
  • Generate Form 24Q, Form 16 and Form 12BA
  • LWF calculations and deductions
  • Bonus calculations.

Excellent Reporting

Our Payroll module provides access to more than 150 MIS reports. You can customize the reports for your specific needs. Additionally, payroll analytics provide insightful details that help you to take the right decisions at the appropriate time. The reports include…

  • A large array of MIS Reports
  • Reports and Forms for Statutory Compliance requirements
  • Reconciliation and other reports specific to the Accounts department.

Conclusion

The right time to outsource the Payroll and HR operations and make your choice of the right outsourcer is an onerous task for any business owner. Choosing the right time is best left to the management as they know their situation better than anyone else. However, we have suggested January to be the ideal time purely taking into consideration the beginning of the financial year. Taking such a decision would enable the user to be ready to go live beginning in April when the new financial year begins. But again the choice is best left to the management.

Choosing GetifyHR to outsource the Payroll process is again the ideal choice considering that we enjoy a sound reputation in the industry. We rank among the top outsourcers in the country with a large number of satisfied customers spread across the country. The user-friendly interface and varied functionalities incorporated in this package will not only provide accurate payslips and insightful reports but will also enable immediate updation of changes effected in compliance rules and regulations. We are here to simplify the task and amplify your vision towards greater growth.

Holidays list to labour office

When do we need to declare the Holiday List to the Labour Officer?

by with No Comment BusinessNews & Updates

Introduction

We are closing in on the last few days of an eventful year. The excitement of celebrating Christmas and welcoming the New Year has never diminished and never will. But one set of people is busy formulating the New Holiday List for the forthcoming year.

Yes, HR managers in companies, both large and small are engrossed in preparing the holiday list for filing with the concerned Labour Officer at the end of the year.

Holidays are declared under the Negotiable Instruments Act, 1981. Though they apply to all government departments and more particularly Banks, all establishments in the public and private sectors irrespective of the laws under which they are formed have to adopt these holidays. It is mandatory to adopt a pattern of national and festival holidays in the country. In addition to these, there is the option of granting restricted holidays to employees.

National Holidays

The three National Holidays observed in India are Republic Day (Jan. 26), Independence Day (Aug. 15), and Gandhi Jayanthi (Oct. 2), however, in some states, May 1 (Workers Day) is also declared as a National Holiday. On these days all establishments irrespective of what law they come under should necessarily remain closed. If for some reason the establishment needs to function on these days, they need to get prior approval from the concerned authority. In case employees work on national holidays, then they are entitled to get double wages for the day. The laws regarding national holidays are subject to Central legislation, and some states have made provisions to claim compensatory leave or pay double wages for working on those days.

Festival Holidays

Festival Holidays are based on local festivals and, therefore, may differ from state to state and also could depend on the company policies. The number of holidays would differ from state to state based on the festivals celebrated in that particular state.

Restricted Holidays

A restricted holiday is an optional public holiday that can be availed by a particular set of employees celebrating a special occasion. On a National or Festival holiday, the entire establishment is closed, whereas; on a Restricted Holiday only a particular group of employees avail of the holiday.

A Restricted Holiday enables the organization to serve its customers with a fewer number of employees.

Employees on the other hand get the benefit of claiming paid leave of absence on 2 or 3 restricted holidays during the year. These restricted holidays are marked as optional in the holiday list and are valid only for the specific days mentioned therein.

Declaring the Holiday List

The employer has to submit the finalized Holiday List to the concerned authority for approval in the form as stipulated in each state. In Tamil Nadu, one has to get approval from the Asst. Inspector of Labour/Labour Inspector/Labour Officer.  The details of the forms required for submission/acceptance given hereunder pertain to the state of TamilNadu.

The List Festival Holidays has to be submitted to the Labour Officer in Form No: I.

A notice in Form No: II has to be exhibited in the establishment and a copy has to be submitted to the Labour Officer.  The form should specify the period within which objections or suggestions of the employees referred to in sub-rule (3) will be received.

Where the employer or a majority of employees or any trade union representing a vast number of employees desires a change in the festivals, they may apply to the Labour Officer in Form IV, in duplicate indicating the changes.  The Labour Officer will communicate these changes to the employer in Form III in duplicate. The employer has to display a copy of this communication on the notice board within 7 days of receipt.

The employer should submit a statement under sub-rule (1) of rule 5 in Form V to the Labour Officer indicating the National and Festival Holidays allowed for that calendar year.  The last date for submission of this form is 31st of December every year.  The employer has to display a copy of this statement in a prominent location on the premises.

In all 9 holidays have to be declared in a year (3/4 national holidays and 4/5 festival holidays). The number of holidays would vary from state to state as each state has its festivals and policies on approving holidays. The employer should submit the finalized Holiday List in the stipulated form to the authorities before 31st December of each year for approval.

Conclusion

Preparing the Holiday List and Leave entitlement of employees is a complex task that needs a lot of thought and effort. A lot of effort goes into framing the company’s leave policy and the HR team would be hard-pressed to achieve this task. GetifyHR has years of experience in framing such leave policies for organizations spread across the country and is also adept in formulating National Holiday and Festival Holiday lists across multiple states. Our Payroll and HR management module facilitates simplifying this task and makes it easier for handling the Holidays and Leave eligibility of employees. Associate with us now for seamless handling of all Payroll Processing, Statutory Compliance issues and Leave and Attendance management.

Outsourcing Payroll Services: What to expect when you modernize your Payroll Processes?

Outsourcing Payroll Services: What to expect when you modernize your Payroll Processes?

by with No Comment Business
Introduction

Payroll processing is a daunting task in any business regardless of the size of the workforce. The process involves highly critical tasks other than generating the payslips and disbursing the salaries. Managing Leave and Attendance has always been a complex task and businesses have to face the consequences of errors in handling this crucial activity. Even more daunting is handling the Statutory Compliance rules and regulations. Any errors in handling this vital task could lead to penalties and other legal issues.

A fully integrated Payroll System ensures the smooth functioning of the business and this would lead to greater growth. Outsourcing the Payroll process to an outside agency is the ideal solution as it ensures stress-free operations and helps in addressing the loopholes found in handling payroll either manually or through custom-made software operated by one’s team. The advantages of outsourcing your Payroll process are many and have been discussed in our earlier blogs. In this article, we will limit ourselves to discussing what you can expect when you modernize your payroll process by outsourcing to a reputed third-party service provider.

Impact of Technology

Technology is impacting every walk of our personal and professional life. The pandemic has demonstrated our reliance on technology to keep society and businesses running normally. Not only business transactions but also employees were moved online and payroll services have also been immensely affected. GetifyHR has established itself as a leading player in outsourcing payroll processing using cloud technology.

Cloud Computing

Payroll outsourcing services have embraced the latest in technology to offer greater functionality and performance of their modules. The use of cloud computing has dramatically changed the ways that data is accessible not only from one location but also from multiple locations. Processing and backup is now fully automated.

This has enabled businesses to enter and approve payroll operations across locations. Adopting a cloud-based system has many benefits and the key benefits are briefed here below:

Greater Accessibility

Every branch, every office, and every factory across the states are easily connected. This provides improved access to data and everyone can get up-to-date information whether they are in the office or on the go.

Cut down on costs by reducing the use of costly hardware and software

With the use of cloud computing, you can do away with costly servers, backup generators, network switches, routers cables, etc. All the payroll activities can be handled on the cloud by just paying a monthly fee. This reduces expenses dramatically.

Keeping the company compliant

Statutory Compliance is a vital activity that needs extra care and awareness of the changes in rules that are frequently affected by the government. These changes have to be updated immediately so that the company can remain compliant. Failure to do so will result in penalties and lead to legal issues that the company may well neigh avoid. These issues will also damage the cordial employee-employer relationship. The technology in use now allows the employee to have greater access to their records through a highly efficient ESS portal that is available on the system and their smartphones. GetifyHR is one of the leading HR Outsourcing Services in the country with a reputation for top-notch service

Eliminate repetitive tasks

Payroll processing is a highly repetitive task, especially when using Excel spreadsheets or any customized software. When you outsource to a service provider who uses cloud computing, you are fully automating these time-consuming tasks by leveraging the best of technology. This will bring about a significant reduction in errors and enhance the performance of the administration.

Identify and reduce fraudulent practices

The use of current technology like cloud computing enables the employer to identify whether the employees are billing for hours that they have not worked. With the available data, employers can determine whether an employee is reporting excessive overtime or is abusing sick leave. The available payroll analytics provides employers with trends in employee behavior and information that they need to take corrective measures.

Enhance HR functions

The use of high-end technology in payroll software generates a wealth of information that was previously not available to the user. With the help of the present technology, we can mine this huge volume of data for strategic decision-making purposes. This wealth of information will enhance the HR experience and aid in workforce planning, performance, gender pay equalities, benefits and pensions, and onboarding.

Conclusion

The currently available technology offers the scope for bettering the payroll system under use now. Embracing this technology will offer solutions that will enhance the payroll experience for the company and its employees. Employee retention is very important in today’s labor market. Any small error in payroll preparation would cause employees to leave and this would disrupt the functioning of the workforce and adversely affect the company’s performance. A perfectly working payroll is the need of the hour and this can be achieved only when you have a system that uses the latest technology that is available now. We at GetifyHR are committed to offering the best to our clients and to achieve this we are constantly upgrading our outsourcing module to be in line with the latest technology.

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Specific points to be noted while drafting an employment agreement

by with No Comment Business

Introduction

An employment agreement is a formal contract between the employer and employee that specifies the time of employment. These agreements are legally binding documents that have to be signed by the employer and employee agreeing to mutually acceptable terms and conditions related to employment.

The employment agreement is a covenant between the employer and employee that lays down the provisions of employment. This document governs all aspects of the job like the date of joining, designation, duties, and responsibilities, CTC, leave clause, termination rules, etc.  This article hopes to highlight the most important points that should find a place in an employment agreement.

What is the need for an employment agreement?

Though there is no legal mandate for the employers to have an employment agreement, it is recommended to define the terms of the contract to avoid further legal issues. Importantly, an agreement defines very clearly the relationship between the employer and employee. This avoids misunderstandings and smoothens the functioning of the business.

An agreement reduces the chances of a dispute between the employers and employees and assists in limiting the liabilities of the parties.

Features of an Employment Agreement

An employment agreement contains a formal Offer of Appointment and Acceptance. It also details the consideration which is the essential component of a valid contract. The competent parties in this case the employer and the employee are also clearly detailed in the agreement. The purpose of the contract is provided in the Legal Object. The free consent clause explains that the agreement has been entered into without any coercion, undue influence, fraud, misrepresentation, or mistake.

Important points to be included in an Employment Agreement

1. Nature of Job

You should clearly define the role and responsibilities of the employee. This includes the Job Title, Job description, the department assigned to, the role and skill requirement, and educational qualification.

2.  Remuneration and benefits

The agreement should contain details of the Annual salary package and should also include raises, bonuses, and incentives.  The agreement should have details of Health benefits, Company stock options, if any, investments/retirement plans, and any other fringe benefits. The employer should adhere to the guidelines of the Equal Pay for Equal Work (Remuneration) Act and Minimum Wages Act while fixing the remuneration

3.  Leave Policy

This clause deals with the number of holidays allowed by the business and the types of leave that can be availed by the employee during the course of his employment. These include Earned Leave, Sick Leave, Casual Leave, Privilege Leave, Annual Leave, Maternity Leave, Compensatory time-off, etc.

4.  Non-disclosure Clause

An employer may include this provision to protect the confidentiality of important trade secrets of the organization. This provision may have an effect even after the employee has left the services of the services of the company and prevents the dissemination of propriety information of the organization.

5.  Termination of Contract

The condition for termination of the contract has to be specified. This includes the period of notice to be given on both side, and the remuneration to the employee on termination.

6.  Reimbursement of Expenses

A mention has to be made in the agreement that all expenses incurred by the employee on behalf of the company will be fully reimbursed to the employee.

7.  Social Security Benefit

This clause should specify the deduction from both the employer and employee side towards EPF and Insurance. The benefits that accrue to the employee should be explained as per the statutory rules and regulations.

8.  Probation Period

This is relevant when the employee is taken on probation. Normally the probation period is six months and the conditions during this period should be specified.

9.  Breach of Contract

This clause specifies the remedies for liability if the parties breach any of the terms of the contract. The remedies and actions to be followed for the resolution of the dispute have to be specified.

10.  Disability or Death

In the event of the death of an employee or if they suffer a serious disability, the kind of support that the family can get has to be mentioned. This could be in the form of monetary compensation or by providing a job opportunity to a family member of the deceased.

11.  Jurisdiction for resolving disputes

This comes into effect when a dispute arises out of an employment agreement. When a jurisdiction clause is included in the agreement this specifies that the dispute will be resolved through a judicial court or forum and will be governed by the governing laws of the state. Laws relating to employment vary from state to state; therefore, it is advisable to state the governing laws in the contract.

Conclusion

An employment agreement is an important document that is proof of the relationship between the employer and the employee. This is a legally binding document that needs to spell out all the terms and conditions of employment. The agreement must be carefully drafted after taking into consideration all the laws and employment rules and regulations in the country. This may differ from state to state so a lot of effort must go into framing the agreement. What we have detailed above are the more important points to be noted when preparing an employment agreement.  There are many more points that have to be included in such an agreement.  A talk with GetifyHR would bring more clarity on the subject.

GetifyHR has had vast experience in employment-related activities and have simplified the art of drafting highly effective employment agreements. Our clients spread across the county have benefitted from our expertise in this regard.  As one of the leading outsourcers, we have been providing excellent service through our platform that integrates Payroll management, HR management, Attendance & Leave management, Statutory Compliance and Task management.  Talk to us for more guidelines in creating an employment agreement that takes care of all the laws and statutory requirements.

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The importance of paying salaries on time and how outsourcing payroll helps businesses grow!

by with No Comment Business

Introduction

Fixing employee salaries and paying them on time is a critical operation in any business, whether big or small. The employer and the HR managers put their heads together to chalk out the salary structure of the employees based on designation, rank, performance, etc.  These decisions are crucial as they impact the performance of the company as a whole.

From the point of view of the employee, the real driving force is the salary they take home. This is what pushes him or her to put in their best efforts at the workplace and only when the employee works wholeheartedly does the business grow. Achieving higher productivity is closely linked to the performance of each employee.

Where the work atmosphere and culture are good the employee will show greater loyalty, but it also depends on whether or not you pay your salaries on time every time.

Let us now look at why you should pay your employees on time.

Why you should pay salaries on time, every time?

Paying salaries on time is an Employee Right!

Governments, whether Central or State have made it mandatory that the salaries of employees are disbursed at a fixed schedule. Companies may pay their salaries on a weekly, bi-weekly, or monthly basis. Whatever the case, companies should pay according to their schedule without any delay.

In the event of non-payment or late payment, the employee can file a claim with the concerned department to seek redressal of their grievances. This would lead to a lawsuit against the employer which is not in the interest of the business. The company may end up paying fines or penalties to sort out this problem.

Loss in Productivity

When you delay payment of salaries you are creating unwanted tension within the workforce. This could lead to losing your efficient employees as they look for better paymasters or the performance of employees drop.  This will lead to productivity loss.

When you pay your employees promptly you are sending the message across that you appreciate their contribution and want them to remain loyal. The employees on the other hand become more loyal and wish to associate with the company for longer periods. This is a win-win situation for both. It improves productivity and generates loyalty.

Save on the Cost of Hiring

When you don’t pay your salaries on time your employees are more likely to be dissatisfied. This would entail greater expenses for the company as they have to pay for fresh hires. This would lead to:

– Loss of Productivity as the new employee may take a long time to be as productive as his predecessor.

– Impact the workplace culture due to high employee turnover.

– Increased hiring costs as you may have to spend on the job advertisement, interviewing, and screening the applicants.

– Spend more on Lawyer fees as non-payment or late payment may lead to litigation.

Non-payment or delayed payment of salaries greatly impacts your business. It is imperative that you pay your employees regularly if you are serious about the growth of the company. Companies normally process their payroll either manually using a readymade package like Excel or make use of a customized payroll package that is fully automated. Manual processing is a cumbersome process and is prone to errors. Making use of a customized payroll package is an ideal solution that can handle the process very efficiently. However, it does have its disadvantages.

How Outsourcing can promote business growth

One way to enable regular payment of salaries is by outsourcing your payroll to an efficient service provider. There is no doubt that this will go a long way in improving performance and creating a harmonious work atmosphere.

Payroll outsourcing is a process in which companies hire a service provider to manage all payroll functions. This includes generating accurate payslips, managing leave and attendance, keeping the company compliant with all the statutory rules and regulations, and also handling all recruitment needs. Outsourced payroll solutions have a few advantages and in the long run, they could help the business to grow. Let’s evaluate a few of these advantages and how they support business growth.

Reduce expenses by cutting down on time spent on payroll processing

When you outsource payroll to an efficient service provider, you not only save time but will also cut down on your expenses. Since professionals run the package, you will be able to save time when compared with manual or in-house payroll processing. This will conversely help you to cut down on your costs as you can do away with a dedicated team to handle payroll and also reduce on investment for costly hardware.

Improve capacity utilization to enhance productivity

Outsourcing to a professional service provider will enhance productivity. How does this happen? During manual or in-house processing you will have a dedicated team conducting the operations. The HR team would be on hand to confirm the outcome of the process and take further action.

However, when you outsource the service provider handles the entire operation and this releases the HR team and the other staff from handling this task. This would enable better capacity utilization as the HR team can apply their mind and effort to core business activities and are released from the pressures involved in a mundane activity. This would significantly enhance productivity.

Preventing Data theft and misappropriation of funds

Data security is a vital factor in payroll processing. The risks include data theft, data tampering for personal gains, and misappropriation of funds. When you outsource payroll you are assured of a high degree of security as all the critical data are stored in highly secure cloud-based servers that ensure the very best of data protection.

Keeping the Company Compliant

Being compliant with all the statutory rules and regulations is of utmost importance in any business.  Any business that employs 10 or more persons is liable to comply with these rules and regulations.

Outsourcing payroll to a service provider will ensure that the company is fully compliant with all rules and regulations. Any changes brought about by the Government will get immediately updated so that the company can be compliant always. By being compliant you are avoiding legal issues.

The functioning of the HR and accounting departments is fine-tuned.

Outsourcing frees the HR department to concentrate on core business activities. This will enable them to monitor the employees better, improve employee retention, attract better talent, and enhance the training process. This will improve the overall functioning of the company.

The accounting department would benefit from getting the required data at the end of the payroll process regularly. This will help them to reconcile the accounts and be ready with all the MIS reports required by the management.

Assist employees with an efficient ESS facility

One of the important features of outsourcing is the highly efficient ESS module that comes with the package. This module will be beneficial for both the employees and the employer. The employees can have access to all relevant information, especially about leave and attendance. The mobile app that is inbuilt gives them the required information on their smartphones.

Conclusion

Payroll processing is a highly critical function that directly affects the business. Whether you do it manually or through in-house automation or outsourcing, any inefficiency in the performance would adversely affect the business. However, outsourcing to a professional service provider will provide a platform that integrates Payroll management, HR management, Leave and Attendance Management, and Statutory Compliance.

GetifyHR offers an exceptional cloud-based payroll module that integrates all aspects of payroll processing. This package provides a high degree of integration of all modules that give the user highly accurate reports as and when required.

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How can strategic Payroll Integration boost your ROI in Human Capital Management?

by with No Comment Business

Human Capital plays a vital role in the growth of an organization. As organizations evolve, the role of the employee also grows and it becomes important for the company to keep its employees happy. To achieve this, companies have to ensure prompt and accurate payment of salaries always. Manual processing of payroll especially where there are a large number of employees is not only redundant but is also prone to inaccuracies. This will in no way help the organization.

Opt for full automation

Full automation of the Payroll process is one solution that companies can adopt to deliver the best results. A step higher would be to outsource the entire process to a professional service provider. Such automation packages or service providers utilize inbuilt algorithms that facilitate companies to process payroll with utmost accuracy and also ensure they stay compliant and are up-to-date in all statutory compliance requirements throughout different geographical locations. GetifyHR is one of the leading outsourcers of Payroll processing in the country. Their cloud based application uses the most robust technology available to offer the users a package that not only performs the payroll process but also handles Leave & Attendance, Statutory Compliance and Recruitment.

Strategic Payroll Integration

To ensure higher ROI you need to implement strategic payroll integration. The system offered by professional service providers is a fully automated package that integrates the payroll process with core human resources, time and attendance management, statutory compliance management, and talent acquisition. This helps companies to streamline their payroll process thus saving on costs. GetifyHR provides cloud-based applications that ensure seamless integration of the Payroll process with Statutory Compliance and Employee Leave and Attendance.  Our Bangalore office provides excellent support for this package in this region.

When you integrate payroll you enable companies to comply with all company-specific rules and regulations across locations. This will bring about standardization of the practices thus ensuring greater profit. The earnings, deductions, arrears, bonuses, attendance, and leave get streamlined and are in sync with the business goals of the company.

Manual processing is prone to errors; however, the risk is negligible when you opt for payroll automation or when you outsource the process. This can help you to perform even the most complex tasks with ease and within a short span of time. This enables the company to save time and effort. Where the need is to expand one’s footprint across the country, this is a much-needed transformation. This process need not depend on Excel sheets to calculate manually to arrive at the salaries.

Once all the relevant employee data has been input into the system, the payroll is processed with minimal complexity. This will enable the saving of money and can facilitate a smoother working environment thus optimizing human resources. GetifyHR provides a wholesome package that ensures timely and accurate processes through its technology-enabled cloud-based payroll module. With this you can handle all aspects of payroll processing that includes managing leave and attendance and also the mandatory deductions as per government rules and regulations. We have our office in Hyderabad to support and service our clients in Telengana and Andhra Pradesh.

Ensuring data accessibility

Strategic Payroll integration provides for easy accessibility of data in real-time and also keeps the data secure. Once human resources and payroll systems are successfully integrated, it enables maximizing profits. Moreover, the HR personnel can involve themselves in core business activities rather than be directly involved in the mundane activity of payroll processing. This will also ensure greater growth for the company.

Legacy-based human resource technologies used to be cumbersome as they relied on multiple file types and data sources. A large volume of critical data had to be input for each pay cycle and the further process takes place through another interface. This process requires more time and effort on the part of the HR team and burdened the system. Payroll integration helps to avoid the use of large, redundant databases for the process during each cycle. GetifyHR has seamlessly integrated all modules of Payroll Processing to provide the user with one of the kind solutions that handle all aspects of payroll and human capital management. Our Chennai office is at your call to support and service clients in this region.

The integrated payroll system helps clients to get better control of the payroll process. Providing hassle-free access to the records and increasing transparency is the hallmark of the system. There is scope for greater flexibility and a better understanding of the system paving the way for greater efficiency and accuracy.

The system is especially suited for organizations that have a workforce distributed across different locations in the country. It enables single-window accessibility to data at corporate or regional levels. Payroll integration helps organizations manage the workforce in a timely and secure manner. GetifyHR offers a high-end outsourced solution that provides excellent features that handles the entire gamut of payroll processing with ease.  Apart from generating accurate payslips, you will be able to perfectly manage leave & attendance, and statutory compliance requirements in a seamless manner.  This gives greater control within the organization. You can seek the support of our Delhi office for any issues regarding payroll processing.

Efficient Employee Self-service module

These specialized outsourced payroll packages help the employees across multiple locations to access a highly efficient Employee Self Service module. With the help of this module, the employees can get better access to the required information on the system or their mobiles. This will greatly enhance the transparency and trust within the organization and boost the confidence and morale of employees.

GetifyHR offers a highly efficient ESS module that is in-built within their payroll package.  Our Coimbatore office is always on call to handle any issues regarding payroll and related issues.

Conclusion

Payroll integration brings about business transformation on an enterprise-wide scale without the requirement of any additional investments. It gives the management access to relevant information in real-time at the click of a button. This will, in turn, enable quicker decision-making as all relevant information is at the fingertips.

Payroll integration across multiple locations is an innovation that enables companies to grow exponentially from within. This growth in turn will facilitate the development of an intelligent ecosystem of stakeholders, thus making it easier for companies to show quick results. The improvements can range from entering the market with innovative products, enhancing the services, or driving growth by engaging and retaining customers.

GetifyHR helps organizations to handle payroll and human capital across multiple locations and eye further horizons for growth. This will help the company set bigger goals while still focusing on its core strength – human capital. They have been in the industry for many years and have established a large client base across the country. Their payroll outsourcing module is technology-driven and cloud enhanced for great efficiency and accuracy. An association with GetifyHR is the ideal way to boost your ROI in Human Capital Management.

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Does outsourcing help you to alleviate payroll pains?

by with No Comment Business

Payroll processing is a vital business function that requires proper application of mind, human resources, and technology. Human Resources Management professionals consider it a pain as it needs a huge amount of effort and time to successfully maintain this regular process. Surveys have shown that HRs are stressed while handling payroll. Badly managed payroll will bring a lot of employee frustration and the spectre of non-compliance. Both these will seriously affect the growth of the business. Let’s try to understand some of the pains associated with maintaining payroll and the ways to alleviate them.

1.  Being compliant with the Statutory rules and regulations

Being compliant is one of the most important requirements in any business. The statutory rules and regulations have been enacted to provide the best working conditions and support for employees in emergencies and after retirement. The onus is on the business to adhere to these rules and regulations without deviation.

That said, there is also a need to keep in touch with the changes in these rules and regulations when they are implemented.

These rules and regulations keep changing frequently and it is very easy for the HR team to fail in updating the changes. This would create a whole lot of problems for the management as they would have to be ready with their explanation for both the employees and the authorities.

Moreover, failure to update would also entail the imposition of a penalty which could be in the form of imprisonment or fines, or both.

The deductions towards EPF, ESI, and tax payments towards TDS have to be accurately maintained for a problem-free functioning of the organization. This requires a high degree of expertise and alertness to changes in the government rules. The best option is to outsource the entire payroll processing to an experienced service provider. This would enable reducing the pressure on the in-house team. GetifyHR has been providing excellent service from their Coimbatore location to a large number of clients in this region. Their cloud-based payroll processing module uses the latest technology to handle these processes simplistically and seamlessly.

2.  Accurate calculation of salaries

Calculating the employee salaries is a time-consuming and laborious process. The payslips differ from employee to employee and will keep changing from month to month due to various factors. All these aspects have to be implemented meticulously to get error-free payslips. Handling this process manually or through in-house software may not bring in the expected results and would become frustrating for both the management and the employees.

Outsourcing this operation to a service provider would enable error-free generation of the payslips thus avoiding tensions in the workplace. The Chennai branch of GetifyHR has been at the forefront of providing excellent service in this region with its high-end technology-based payroll processing package.

3.  Tracking Time and Attendance

Maintaining the leave entitlement of employees is a tedious task when handled manually or with in-house software. Especially in an organization employing a large workforce with different shifts and leave patterns, this would become more complicated and prone to errors. How do we overcome this problem? Well, the best solution is to outsource the entire payroll process to a qualified and experienced service provider.

This would ensure accurate tracking of time and attendance as these modules rely on the latest tracking technology. The chances of errors are greatly minimized and hence would enable error-free tracking of time and attendance. GetifyHR has been providing this service from their Madurai branch to a large number of satisfied clients.

4.  Maintaining the Payroll data

All payroll records have to be maintained for many years and should be available for retrieval as and when required. Maintaining this voluminous data and retrieving them may become cumbersome over time when handled manually or using in-house software. The best option is to outsource this process to a service provider.

The advantage lies in the technology used by such vendors. Most of them use cloud-based technology and this makes it easier for accessing data from any location. Moreover, it reduces the expenses of the purchase of extra hardware in the organization.

GetifyHR, Tiruchirapalli has been providing excellent service to its clients in this region. Their cloud-based payroll module provides the ideal solution to handle all aspects of payroll processing.

5.  Assists in the administrative process

One of the biggest headaches faced by organizations is in maintaining the administrative process related to employee activities. The HR team that normally handles this process is pushed to the limits in maintaining this process. Undertaking this process manually or through in-house software has a lot of shortcomings.

Organizing all the data and filling out the regular paperwork during each payroll cycle is not an easy task. These shortcomings can be overcome by associating with a qualified and experienced service provider that is capable of handling the complexity simply and seamlessly.

GetifyHR, Vellore has been a top-notch player in this field with their cloud-based payroll module that can handle all these needs with a great deal of simplicity and accuracy.

6.  Data Security and Confidentiality

Data security and confidentiality are vital factors concerning payroll processing. The most vital information about the employees is handled here. Therefore, the onus is on the organization and the HR team to handle the data in a highly secure and confidential manner.

Employees on the other hand expect their vital data to be fully secure and confidential. Any shortcomings here would increase the chance of data getting into the wrong hands. This will cost the company dearly. One of the ideal solutions to maintain a high level of data security and confidentiality is to outsource the payroll process to an experienced service provider. They offer a high degree of data security and confidentiality by way of password protection, access control and secure storage, and adherence to all data security norms.

GetifyHR is one of the top players in payroll process outsourcing with a huge number of clients throughout the country. They bring in vast experience and use of the latest technology to provide their clients with a sophisticated package that handles all aspects of payroll processing with simplicity. All their modules are seamlessly integrated so that the required information is available in real-time.

Conclusion

The pain points of payroll processing as briefed above can be overcome by outsourcing to a qualified and experienced service provider. The package that they offer makes use of high-end technology and is cloud-based. The solution that they offer not only ensures strict compliance with the statutory rules and regulations but also provides the user with a highly integrated module that can provide the required information at the click of a button.

GetifyHR, with its highly sophisticated, cloud-based package provides a stable platform to handle all aspects of payroll processing with a great deal of simplicity and in a user-friendly manner. Associating with GetifyHR is associating with the best in the industry.

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Navigating and Managing your employees’ leave is a tricky challenge, where even small mistakes may lead to disaster? Don’t worry, here’s a guide to overcoming this challenge

by with No Comment Business

Introduction

HR’s across industries have to be on their toes to effectively navigate and manage employee leave. Many a HR’s have been frustrated by the complexity of this task and this has adversely affected the performance of the company. However, you can overcome every challenge by using the right services. In this article, we shall address the ways by which you can overcome this frustrating problem for the better functioning of the company and its employees.

Before we go into the ways by which you can overcome the problems, let’s take a look at a few challenges in navigating and maintaining your leave management.

Challenge I – Tracking Employee Leave

Keeping track of your employees leave is one of the biggest challenges faced by an employer. In most cases, this is handled by using Spreadsheets or full-fledged Leave management software. Both these methods have their inherent disadvantages. Errors do creep in and this gives out inaccurate results.

When this happens it has a negative impact on the relationship between the employee and employer and this would adversely affect the business in the long run.

Challenge II – Employee Scheduling

HR’s has to have the full picture of employee scheduling to be in a position to allot leave. This may not be possible when using spreadsheets or even custom-built leave management software. This is true, especially in businesses that have a large volume of employees on their payroll. When there is confusion in scheduling it gets reflected in the allotment of leave and this would negatively affect the workplace. Effective leave scheduling will reduce the problem and this can be achieved only when you have an efficient leave management program in place.

Challenge III – Lack of clear Leave Policy

Having a clear leave policy is a must in handling leave more accurately and effectively. The Leave Policy of the company has to be properly framed as per the work culture of the company.

Once you establish a proper leave policy, you will be able to handle the leave of employees in an efficient and non-discriminatory manner. Once this system is in place, all the issues relating to employee leave will get simplified and effort-free.

Challenge IV – Inaccuracies in the Payroll

When you have a payroll system that is prone to errors, this is reflected in the leave records of employees.

When this happens, the HR team and the employees are affected. The HR team is hard-pressed to identify the actual leave status of the employees and the employees are troubled by the inaccurate marking of leave. This leaves them both frustrated and overall it affects the functioning of the company.

These challenges can be overcome by following the tips briefed hereunder.

1.  Formulate a clear Leave Policy

This is one of the first tasks you have to do when you plan your leave management. You have to outline the leave policies for your employees. This will be based on the work culture followed by the company.

The leave policy should have guidelines that clearly set out the entitlement of leave to its employees.

The leave policy should include:

– The list of official holidays

– The types of leave available to the employees

– The leave that can be accrued and carried forward

– The leave that lapses at the end of the year

– The leave that is paid time off or not

– All other leave benefits.

2.  Be aware of the laws about leave

Companies have to be aware of the laws about leave. This may differ from state to state. All the policies that you frame must fully comply with these laws. We live in a country with a diversity of religion, language, caste, community. We should take care to see that our policies are applied consistently without showing any discrimination against any of the employees. The HR team should be fully aware of these policies so that they can handle leave consistently without discrimination.

3.  Communicate these policies to your employees

Formulating a leave policy is the first step but if the employees are not aware of it, it becomes meaningless. You have to communicate these policies to all the employees within the company. This will give the employees a clear picture of their leave entitlement and their rights. To achieve this, the HR team should be fully aware of these policies and be in a position to communicate them to all the employees

4.  Get a fully automated Leave Management System

A fully automated Leave management System is one of the solutions to overcome all these challenges. Your choice of a system that can handle the inherent complexities of leave management should be perfect as otherwise, you will land yourself in more trouble.

Select a system that can fully update leave entitlement and balances on a real-time basis. This system should have the following features.

– Fully automated system

– User friendly

– Provide relevant employee-related reports and analysis

– Track the entire performance of each employee

– Be capable of handling employees across multiple locations

– Track leave and accrual details of each employee

– Address all compliance issues.

– Take care of data security and integrity

Conclusion

A Leave Management System that can handle the requirement of the company is not the only choice available. Companies can look forward to outsourcing the entire Payroll Process to an external agency. This by far is the most ideal choice as you have to look to only one agency to get all your processing done under the expert guidance of a single source. This would in effect enable the handling of Payroll Processing, Attendance and Leave Management, Statutory Compliance issues, and Recruitment. These systems are fully integrated and automated so that every entry gets reflected in all the relevant modules. In this way, you can avoid multiple entries.

GetifyHR, one of the leading outsources of Payroll Processing provides a cloud-based system that makes use of the most advanced technology. Their system is fully automated and integrated and offers a seamless operation that can handle Payroll Processing, Attendance and Leave management, Statutory Compliance issues, and Recruitment. They specialize in meeting the most stringent requirements in Payroll Processing and offer their clients high-end services at all times.