HR professionals are the most dynamic group of people in a company. The critical role encompasses the handling of several responsibilities such as recruiting skilled employees and workers, payroll processing, maintaining a healthy company-employee relationship, communicating terminations, and accepting resignations. Management and finance professionals in the manufacturing industry have additional challenges since they deal with workers of all backgrounds. Manufacturing industries, whether big or small, are comprised of a huge spectrum of skilled individuals. From logistics workers to CEOs, the industry displays a wide range of salary diversity. The processing team has to pay heed to each individual's position and comply with the respective labor laws applied to them. They need to be cognizant that they need to produce accurate payslips with the best available resources at hand. One of the many monotonous tasks faced by these professionals is the processing and finalizing of payrolls for the salaried and temporary workforce of the company. The job poses multiple challenges for the processing team that can hinder the task and causes repetitive verification of the large data set. The various hassles in payroll management are the sole rationale behind its tedious nature.  

Compliance with local laws.

Many different states and countries have their own labor laws and regulations. These laws are framed with respect to employee rights, the authorization of businesses, and worker unions. Such laws need to be respected and taken into account when dealing with the payroll processing of laborers, work-from-home, and freelancing employees (which has become the new norm in the past two years).  A lot of time is consumed in researching these regulations and assigning their applicability to the concerned employees so that their payroll calculations comply with the local laws. This aspect is important as it avoids litigation and lands the company in legal trouble.   

Performing Calculations

The operational duty of the processing team starts with calculating the innumerable deductions and additions to the final salary. Each employee is unique, and so are the calculations that go into the construction of their payroll.  Multiple factors are taken into consideration during computation depending on the output, taxes, union memberships, and bonuses offered. Daily wage and line workers' payments depend on their attendance and the hours they put in. The team has to draw up a plan where it computes leaves and overtime undertaken by the employee, adding and deducting the values settled on a contractual basis with the company.  The team authenticates the taxes applicable on the given amount and deducts those costs after careful consideration. As for the employee benefits and bonuses; these values are added.  Hence, abundant time is devoted to scrutinizing each employee's data. Classifying each section of employees and calculating their data is a long and daunting task.  

The Occurrence of Errors

The wearisome task of payroll processing is prone to human errors if done manually. Employee data can be missed, some input values can be missed, deductions are not filed, etc. The team can put the employee's trust in jeopardy if errors are not rectified and satisfactory results are not obtained. The team has to perform with accuracy and eliminate as many fallacies in the books as possible. The inevitability of mistakes in an overworked HR team restrains the punctual payout of payrolls. The rights of laborers are threatened when less than the agreed payment is received by them.  

Outdated Software

The processing teams are equipped with the technology provided by the company. The technical aspects are the investments from the organization's side, and the team has to make the best of them. It is a futile practice to update the latest software on a regular basis, as the company would lack the funds or relocate them to other critical business activities. This results in delays in the process and late payouts. It has been found that up to 49% of employees quit work after two late paychecks and look for a more disciplined pay structure.  

Excessive Time Consumption 

The time and energy of an HR professional should not be drained by only one task of their spherical approach. Payroll processing can become stagnant if enough lucrative resources are not utilized, and they may be unable to attend to other things. The tasks of hiring and communicating also demand an equal degree of attention to detail. The dedication of a professional depends on the efforts they make in resolving employee issues. They need to make their presence available during such incidents. The best solution to these problems in today's fast-paced world is to outsource the processing of payrolls to a team of experts that offer such services.  

Why Paysquare?

Paysqaure resolves all the challenges faced by the manufacturing team. We keep ourselves updated with the latest labor and taxation laws, reducing the burden on the organization. At Paysquare, we dedicate all our resources to processing payrolls that are error-free and delivered on time.  Paysquare focuses on completing the organization's financial responsibilities with accuracy and in a secure way. We aim to preserve the dimensionality of HRs, which makes them the most crucial element for the smooth functioning of the company. Paysquare allows the company to concentrate all its skills on maximizing productivity without stressing about the exhausting payroll process.

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CA. Vipul Gandhi

Associate Director

Khandhar Mehta & Shah - Chartered Accountants

‘Paysquare’ a perfect match for us as a consultant to deliver the best to our client. It extends User friendly portal for Employees and seamless processing of Payroll including statutory compliance on time! We

Parameshwer Matla

Human Resources

Columbus India

‘Paysquare’ a perfect match for us as a consultant to deliver the best to our client. It extends User friendly portal for Employees and seamless processing of Payroll including statutory compliance on The most valuable service that we get from you is "peace of mind." I know that once I submit our payroll information, everything will happen on time, payroll, pay slips, statutory reports, full and final settlement, returns and I know that we are and will be always in compliance with statutory laws regarding payroll.

Ramakrishna Dabbara

Sr. Manager – Finance

Sumtotal Systems

We would like to take this opportunity to thank you for your continual support till date! Your support especially during this pandemic has been awesome! Be it the TAT (turnaround time) you people are processing our requests, being accommodative in accepting the II, III payroll revisions, working late/ weekends, delivering the reports in time and minimal to zero errors are some of the examples of your commitment towards work & deliverables.

Abhijeet Shete

SENIOR MANAGER- HUMAN RESOURCE

Altra Industrial Motion India

We would like to take this opportunity to thank you for your continual support till date! Your support especially during this pandemic has been awesome! Be it the TAT (turnaround time) you people are processing our requests, being accommodative in accepting the II, III payroll revisions, working late/ weekends, delivering the reports in time and minimal to zero errors are some of the examples of your commitment towards work & deliverables.

Sukesh Baban Dhage

Manager Accounts

Hi Tech BioSciences India Private Limited

On behalf of Hitech Bio Sciences India Pvt. Ltd., Hi Tech Bio Laboratories, Hi Tech Analytical Works & Hi Tech Biosynth Pvt. Ltd., we appreciate your dedication to provide Payroll services to our companies from the approximately last 4 years. We acknowledge the fact that due to COVID-19, situation has become really tough across the globe. We all are forced to stay at our homes and take extra care of ourselves along with family members. It is a privilege to acknowledge you and your consultancy’s efforts and recognize the valuable service that you have provided to us. 

It is always gratifying to work with such great people with extraordinary abilities to provide good and quality service. The kind of response from your side get is fabulous and most memorable with professional culture. Specifically we would like to mention that, your approach towards the client is fantastic, for e.g. response to email is very prompt, continuous touch with client, on time response to queries or questioners’, on time and accurate report sharing. Flexibility to client requirement, Client / customer centric approach etc. Timely payment of salary gives a lot of confidence to all employees and it is due to our partners like Paysquare that Hi tech has never defaulted on its commitment of timely payment of salaries.

Ratnakar Dhakad

Senior Operation Manager

Tecknack Technologies Private Limited

We are very impressed with Paysquare team due to their ability to process payroll very efficiently. We found the implementation team very knowledgeable, supportive and very systematic.

Paysquare is a very matured payroll processing solution and they have well paid down processes to manage first time as well as every month's processing.

Monica Shah

HR Business Partner India

Victaulic Piping Products India Private Limited

Honestly , It has been an amazing experience working with Payroll team as on date . Deepika and Uma has been a strong support to us. They have always been very helpful and co-operative. I congratulate them to run payroll with zero error every month. And I expect the same level of support in future. I am happy to be associated with Payroll team.

Seagate India

Manager

I have been a client of Paysquare for 7 years and their services are fantastic. Migration from the old consultant to Paysquare was seamless. Soon after the migration, Paysquare team was up the learning curve. They never missed the deadlines provided by us. The team is always reachable, and they keep us informed about changes in taxes or government policies which impact payroll. I have complete confidence and trust in their payroll solutions, and we will always recommend them. Any company looking to ease their payroll burden with friendly service and a flexible, secure system should partner with Paysquare.