Payroll processing seems pretty straightforward at first glance. The employees' pay is known beforehand. All you need to do is disburse the same to their accounts. Simple, right? Absolutely not. You need to calculate taxes and make the necessary deductions from the pay, deposit money towards the retirement fund, make payments towards insurance premiums etc. There are so many intricacies in calculating the payroll that missing a date or a deadline can lead to heavy fines.     Payroll services can make this process easier for your organisation. But first, it is important to understand what goes into payroll processing.  Payroll Outsourcing Services In India

What is Payroll Processing?

Payroll processing encompasses everything from determining the payroll policy to generating reports. The whole process can be divided into three parts namely, pre-payroll processes, payroll calculation, and post-payroll processes. 

1. Pre-payroll processes

The first aspect to consider here is the company policies regarding the pay, leave, attendance, etc. These policies will usually already be in place and may only require some minor updates from time to time. The next step is collecting all the relevant information and verifying it. 

2. Payroll calculation

This is where all major calculations with regards to the payroll take place. You need to consider the taxes, any payments towards retirement or provident funds, deductions for leaves taken, reimbursements for travels and any other expenses or deductions to determine the final monthly pay of each employee. 

3. Post-payroll processes

After the calculations are done, you need to ensure that you have complied with all rules and regulations. After this, you can disburse the money to employees via bank transfer or cheques. The final step is preparing reports for the higher management so that they can analyse the monthly expenditure.

Why Choose Payroll Services?

Whether you are a start-up or an established company, payroll is an essential part of your organisation. Having a payroll department in-house might seem like a better idea, but it is not so.  When you outsource your payroll to another company that specialises in payroll services, you can expect a level of expertise that you cannot find in an in-house team. There will also be better compliance with rules and regulations. And it is actually cheaper to hire a company to perform the payroll services for you. You are relieved of the training and hiring costs and any fines that usually arise from non-compliance.         It also frees up your resources so that you can redirect them towards more pressing aspects of the business.  

What Does Payroll Processing Software Do?

Payroll processing software can help you standardise, streamline, and automate payroll processing. It gives you and your employees access to any information regarding payroll at the click of a button. Not only does it perform the payroll processing, it also generates custom reports that make it easier for you to analyse the salary structure and use past data to predict future cash flow requirements.  But managing the software will need specific resources and increase your operational efforts for a dedicated team. While considering to outsource your payroll management, you can consider the ease of using payroll process software as one of the benchmarks to select the best service provider.

Hire a Payroll Service Today

Payroll processing is a complex procedure that requires considerable effort and attention to detail. Hiring a payroll service in India for your company will only benefit you in the long run and help your business become a success.

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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.