Payroll process is not only the calculation of employee’s basic remuneration but, it also includes any overtime payments, special payments or bonuses given to the employee. Moreover, remuneration is also calculated keeping in mind hourly employees, salaried employees, new hires and terminations. Calculation of gross salaries and deductible amounts is a tedious task which involves risk. Various aspects of payroll such as taxes, retirement funds, withholding tax regulations, and government regulations, are always changing and can become quite complicated for the accounting staff to handle.
To effectively manage the entire payroll work payroll processing services is needed. As the number of employees in the organization, increase the benefits of payroll outsourcing become more apparent. As the organization grows it become difficult for the organizations to manage the work, so lighten your burden and let Lodha & Bhatt take care of this cumbersome process and, thus ensuring that you save good amount of time and hassles that arise in the processing.
Our Services Include:
- Calculating payroll after thorough analysis of payroll records, number of hours worked, leaves, overtime worked etc.
- Withholding Tax (T.D.S) obligations for each employee.
- Employer and employee Provident Fund & ESI or any other contributory fund calculation
- Employee’s agreed periodical deductions
- Medical claim
- Depositing statutory dues
- Reporting the periodic accounting entries of payroll for periodic accounts processing.
- Printing and delivering cheques to employees/ credit to employee accounts.