Payroll is an important process to be managed in every organization which can not be avoided. You have two approaches to manage payroll which are in-house management or Payroll outsourcing to other professional organization. In-house management can be expensive and there can be serious losses due to penalties and errors caused if the staff is inexperienced. Payroll outsourcing provides accurate payroll processing and can be cheaper. Payroll Outsourcing Payroll outsourcing trend is also in a rapid development stage in India and now businesses have the option to choose any payroll outsourcing company from the list of top payroll outsourcing companies in India.

How Complicated is the Payroll Process?

Payroll management in an organization is not so easy as it seems. It needs a lot of work including lots of records, files and data management related to employees and much more than that. Payroll managers have to perform the scrutiny of employee's attendances and leaves, consider employee salary structure, make strict compliance with law and more.  Let us go over the following important things to consider when you validate whether benefits of payroll outsourcing will work for a company.

Compare the Cost of Outsourcing Payroll vs In-House Payroll Team

Very large businesses might afford the maintenance of separate payroll departments but for small and medium businesses, it can be a costly affair. If your business has less number of employees then there is a good chance that you can save money by outsourcing all your payroll activities to a professional payroll company. However for big businesses also, it can be a money-saving affair if they want to keep the hassle of payroll management out of their company. Payroll companies are professional and are always up-to-date with the latest payroll policies and taxation.

Workforce Variations

Workforce evolves and may change with time. Some organizations have seasonal workers and therefore need temporary payrolls for the workers who come and go. Managing permanent and temporary workers payroll can be problematic for the in-house payroll managers. For an external payroll outsourcing company, it is an easy and usual job to manage timely workloads and can manage payroll well in all conditions. Further different businesses manage payroll in a different and more complex way and that knowledge is well present in a professional payroll company.

Your approach towards your sensitive data

In Payroll management, the sensitive data of company’s employees is used for different purposes. It includes social security numbers, salary info, banking details and others. This can be a crucial factor in the decision of payroll outsourcing in a business willing to do so. Many businesses are uncomfortable with this concept of allowing their company employees’ data to flow out of their premises. This is a common consideration for making the decision of payroll outsourcing in any company. Therefore when making a payroll outsourcing strategy there must a degree of diligence regarding the determination of a payroll outsourcing service provider’s information security policies. The top payroll outsourcing companies have strict information security policies and therefore offer complete peace of mind to the customers in terms of their data security.

How does Outsourcing Compare to Outplacement?

Outsourcing involves contracting of any business process to another party which takes care of the process externally. Outplacement is the process of helping former employees in a downsizing company through the re-orientation to the job market. It includes career evaluation, guidance, interview preparation, job search skills and others.

Conclusion

Despite some important outsourcing validations needed to be made, a number of businesses have already made the decision of outsourcing the payroll function to an external provider. The top 10 payroll outsourcing companies in India have served their customers with the high degree of quality and have been managing payroll of hundreds of customers with a full accuracy of payroll processing. Figures are big in number and considering those figures, the consensus shows that outsourcing payroll is a cheaper and an option with less burden. 

You may also like

How Does Outsourcing Affect The Role Of Human Resource Professionals?

Read More

Leave Management Process in India- The Complete Guide

Read More

Payroll and HR Outsourcing for the Banking and Finance Industry

Read More
footer-logo

DeliziaHR is designed with rich features and enhanced UI/UX experience for managing onboarding, payroll management, leave management, compliance management and exit management. It is designed for businesses of all sizes and scalable to meet any of the complex requirements of HR Department.

SERVICES

SOLUTIONS

RESOURCES

COMPANY

QUICK LINKS

Payroll Outsourcing Services

Accounting Outsourcing Services

EOR/POE Services

© 2023 All Right Reserved | Privacy Policy | User Agreement

close-button

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.