PAYROLL PROCESSING SERVICES
Our Payroll Compliance Services help close any gaps in compliance with employees’ remuneration rights and ensure payroll operations follow all applicable regulations.
Why Do You Require Services for Payroll Compliance?
Moral Obligation
Employers are morally obligated to ensure that employees receive the compensation and benefits they deserve. Payroll management compliance services assist businesses in fulfilling these responsibilities and enhancing their reputation.
Risk Management
Non-compliance with payroll-related laws and regulations can result in legal and financial risks. Payroll processing compliance services help to manage these risks by making sure that all applicable labour rules and regulations are followed.
Cost Savings
Legal penalties, fines, and reputational harm may arise from breaking payroll-related laws and regulations. Payroll system Compliance Services assist companies in avoiding these expenses so they may concentrate on their main company operations.
Saving Time
Payroll system compliance services free up organizations to focus on their core business operations by handling all payroll processing compliance-related tasks. Payroll compliance can be time-consuming, especially for companies with large workforces.
About Payroll and Labour laws Compliance Services
States and federal governments have their own labour rules that businesses must abide by. Companies must stay current on all labour laws in India in order to handle statutory compliance. Companies are also required to follow them. A corporation may face severe legal repercussions as well as financial penalties and fines for failing to comply with these regulations.
For this reason, every business spends a significant sum of money, time, and effort in order to comply with regulations ranging from professional taxes to provident funds and gratuities, among others. The business consults with specialists in tax and labour law to assist with this.
For every organisation, payroll is an essential function. Payroll data handling requires close attention to detail and caution because any mistakes can have detrimental effects. For firms and HR, processing payroll and other labour compliance requirements can be taxing. Regulations and compliance, employee welfare, and onboarding are all included.
- Being aware of every area of a business’s operations has grown increasingly difficult due to the significant growth in complexity of doing business.
- We provide associated services to help the payroll and compliance HR teams to make sure that the client can conveniently get all of their solutions from one location.
- The monthly payroll process begins upon receipt of information on new recruits, resignees, and any modifications to salary information.
- Following payroll, all required statutory filings and reimbursements must be completed. We further assist with licence renewals and fulfilling labour law requirements.
- Making payroll processing compliant with statutory audits requires a significant investment of time, finances, and resources for your organisation.
Who Requires Services for Payroll Compliance?
Any organisation that wants to insure compliance with the many payroll-related laws and regulations must use payroll management compliance services. This covers businesses of all sizes in a range of sectors, including manufacturing, healthcare, IT, and hospitality.
These services help businesses abide by regulations pertaining to employee payroll systems.
Take Compliance Expertise Advantage
Payroll Services Can Help :
Why Do You Require Services for Payroll Compliance?
Moral Obligation
Employers are morally obligated to ensure that employees receive the compensation and benefits they deserve. Payroll management compliance services assist businesses in fulfilling these responsibilities and enhancing their reputation and fame.
Time Saving
Payroll system compliance services free up organizations to focus on their core business operations by handling all payroll processing compliance-related tasks. Payroll compliance can be time-consuming, especially for companies with large disciplined workforces.
Cost Savings
Charges, Legal penalties, fines, and reputational harm may arise from breaking payroll-related laws and regulations. Payroll system Compliance Services assist companies in avoiding these expenses so they may concentrate on their main company operations compliances.
Risk Management
Non-compliance with payroll-related laws and regulations can result in legal and financial risks. Payroll processing compliance services help to manage risks by making sure that all applicable labour rules and regulations are followed.
Categorised Services Offering
- Universal Account Number (UAN) generation in EPF
- Employee’s UAN & I.P no. for all respective PF
- Coordination assistance for obtaining ESI and EPF benefits
- Assistance with employee PF account transfers and withdrawals
- Provide monthly Challan creation for EPF
- Handle employer changes and adjust employee UAN numbers
- Maintain liaison with the PF department
- Helping workers to receive pension benefits upon retirement
- Preparing and submitting documents to PF
- Managing PF compliances
- Assisting employees with PF account settlements
- Timely statutory contribution remittance
- Get or change EPF codes
- Provide legal advice on PF related issues
- Help staff members with pension claims, withdrawals, and transfers in and out
- Insured Person Number (IPN) Generation in ESI
- Provide legal advice ESI-related issues
- ESI code Generation in ESI
- Get or change ESI codes
- Coordination assistance for obtaining ESI benefits
- Provide monthly Challan creation for ESI
- Maintain liaison with the ESI department.
- Preparing and submitting documents employees state insurance act (ESI)
- Assistance with ESI benefits (medical and accident claims, etc.)
- Help staff members with pension claims, withdrawals, and transfers in and out.
- Support coordination for ESI compliances connected to accidents
- Acquire or modify EPT codes
- Compiling and submitting statutory returns under EPT
- Sending in statutory payments under EPT
- Sending in PT and LWF on a quarterly basis
- PT and LWF compliance maintenance
Other Payroll / HR Services
- The management of exits
- All Requirements compliances managing
- Consulting on compensation and benefits
- Planning for taxes and support for TDS Information about any changes to legislation
- Work together with the client to manage statutory authority inspections
- Enabling workers to move accounts online between companies
- Enabling workers to get EDLI benefits based on the applicability
- Arrangement of inspections and notifications in conjunction with the authorities
- Registration, renewal, or modification of any kind in accordance with the many applicable labour law Acts
- Timely submission of monthly, quarterly, half-yearly, and annual returns in accordance with the deadlines stipulated by law
- Calculating expat salaries
- The drafting of HR policies
- Employee benefits and liabilities
- Creating monthly statutory challans
- Error free professional tax services
- The management of performance
- The management of attendance and leaves
- The creation of monthly statutory challans
- Managing inspections on the client’s behalf
- Employee assistance with KYC updates via the portal
- Support in coordinating compliances connected to accidents
- Upholding the labour laws act’s records, returns, and registers
- Enabling workers to transfer their accounts electronically across companies
- Creating and updating policies based on current roles and rules
Things to Consider When Looking For Payroll and Labour laws Compliance Services in Gurgaon
Below Labour Laws Acts are most important to you;
- The 1965 Bonus Payment Act
- Requires annual bonuses for workers who put in at least 30 days of labour, based on compensation and business profitability.
- Labour welfare Act
- Improves social security benefits and working conditions for workers in particular industries under state supervision.
- The 1972 Payment of gratuity Act
- Requires gratuity payments in businesses or core business with ten or more workers, including non-profit organisations, medical facilities, and educational institutions.
- Offered payment of gratuity act
- The Employees Provident Fund and Miscellaneous Provision Act (EPF Act 1952)
- For businesses with 20 or more employees, there is a requirement for employer and employee contributions to social welfare.
- POSH ACT 2013:
- The Act of 2013 that addresses the prevention, prohibition, and redress of sexual harassment of women in the workplace.
- The 1936 Payment of wages Act
- Ensures companies pay wages on time, with flexibility in the frequency and form of payments.
- The 1948 Minimum wages Act
- Establishes minimum wage rates that vary by state and industry in order to avoid labour exploitation.
- The 1948 Employees State Insurance Act
- Medical facilities for oneself and dependents are a benefit available to employees under the plan. Additionally, if certain circumstances lead to a loss of earnings or earning ability, they are also entitled to monetary rewards. For their confinement, the insured women are entitled to maternity benefits.
- The 1961 Maternity benefits Act
- Provides women who work for companies with more than ten workers maternity leave and benefits.
- TDS, or tax deducted at source
- For all workers within the Income Tax Slab, indirect tax collection via employer deduction prior to salary distribution.
- Error free professional tax services for employer
Payroll Services Available:
Every organisation must follow the guidelines for PT, LWF, ESI, and EPF remittances.
Sankhla consultants can assist with the requirements for post-payroll compliance by addressing the scope of work listed below.
Payroll Processing
We offer to provide accurate monthly payroll processing to your employees as part of our all-inclusive payroll services. Managing allowances, special payments, one-time payments, attendance, and F&F settlements are all included in this. Another important component of payroll processing is the deduction, which can be difficult for businesses to handle because it varies depending on factors like location and kind of employment.
Tax Advice services
Employers and employees are served by tax advising services. It also assists employees and employers in successfully managing their spending, reducing tax liabilities, and maximising tax benefits. We hold an Income Tax Declaration event at the start of the fiscal year, and a Proof of Investment session in December or January.
Analytics and Reporting
An effective reporting and analytics system for payroll management helps monitor the general pattern of payroll expenses, identifying potential discrepancies, providing strategies to reduce costs, and supporting workforce planning.
Employment Services
- Employee handbook
- EPF and ESI Registration
- Salary structure
- HR manuals
PAYROLL MANAGEMENT TASK ACTIVITIES
The following are a few tasks completed during the payroll process compliance run: