As organisations continue to expand, managing payroll processes merit special consideration. To build, manage and implement payroll related operations and processes, one requires an organised approach.
We focus payroll services to ensure the following:
- Tax efficient management
- Efficient and timely administration
- Advisory services in relation to regulatory implications.
Key service offerings:
We offer the following services with regard to the payroll functions:
- Assistance with the payroll process for the company and its employees
- Advise on the monthly amount to be deposited by the company in respect of its employees under the applicable laws
- Assistance in preparing returns for Tax Deduction at Source (TDS returns) and the TDS certificates to be issued to employees
- Provide payroll reports required by the company and its employees
- Assistance in reviewing employment contracts from tax and regulatory perspective
- Provide relevant information to various authorities in case of scrutiny/ inspection of payroll records
- Discuss tax positions on specific compensation items which may merit attention due to their ambiguous nature
- Timesheet management and data processing
Offer personal employee support services that enable resolving employee queries.
Most large enterprises transfer payroll services to third party, as out-sourced solutions are more flexible and greater control for the Company. This service saves time and cost for the Company from complex accounting requirements and large operating networks. RPSL offers its services to its client by managing the payroll services with efficient and accurate way.
RPSL payroll services include the following:
- Manage time sheet approval process for each employee work on single /multiple location/cost centre of client.
- Validation of each time sheet and other related documents.
- Maintain leave register.
- Maintain bank instructions of employees.
- Maintain rotational status for employees.
- Maintain man-hour report for client.
- Maintain audit trail and documentation for future references.
- Issue fund transfer for employee after month end based on time sheet.
- Issue pay slip for each employee.
- Monitor tax compliance related to payroll
RPSL payroll system maintains records of all employees irrespective of nature of their payment (monthly or daily or hourly). The details that are kept on records, if applicable, are as follows :
- Employees net take home salary
- Statutory deductions of tax
- Workman’s liability insurance
- Medical Evacuation
- Personal accidental insurance
- Leave allowances
- Severance payment
- Holiday allowance
- Family allowance
- Payment in lieu
- Sick leave, annual leave & casual leave
- Medical allowances
- Mobile allowance
- Per diem allowance
- Transportation allowance
- Annual allowance/bonus
- Termination pay
- Any other benefits like housing, accommodation, foreign allowance, children education, foreign allowance etc.,
Sometimes, depending on the offer and nature of work, separate arrangements in addition to remuneration is set aside for the following:
- Work clothing
- Personnel Protective Equipment
- Medical examinations
The benefits and packages are upto the client and individual consultant / employee/ recruit to agree on. RPSL executes payroll administration as agreed by the parties.