Outsourcing seems to be one of the most significant breakthroughs in today’s era of transformed methods of carrying out business. It’s imperative to say that businesses need to largely focus on their core area of functioning and it would be best to bring in an expert agency to handle the subsidiary operations.
Payroll management is one such area which can be handled by professional agencies who are specialists in the field. People Catalyst can be your perfect partner and as one of your trusted service providers, we understand how integral and important it is for your organization to ensure error-free and confidential payroll management activities. The strategy of payroll outsourcing is to take this important aspect of Human Resource Management to a higher level by offering the best professional expertise with all necessary documentation complied with.
OUR SERVICE OFFERS
Salary Structuring and Calculation of Cost to Company
- Salary is structured with the inclusion of components like Basic, DA, Conveyance, and others.
- Salary structuring is required to arrive at a cost to company figure to analyze employee related overheads.
- Salary structure forms the base for calculation of long-term expenses like gratuity, Superannuation, Pensions etc.
Processing Monthly Salaries
- Processing your payroll based on the latest legislative updates after capturing their monthly attendance.
- Processing investment declarations of your new joinees.
- Payroll is prepared to take into account all statutory payments like ESI, PF, PT, and TDS.
- Arrear calculations, reimbursements can also be built into the payroll as and when required.
Calculation of Full and Final Settlement
- Calculating payable days.
- Leave Encashment days/Notice Period recovery.
- Reimbursement claims during final settlement.
- Other payments/deductions.
- Processing of Full and final settlement with no dues pending.