Payroll outsourcing entails assigning the employee payment management process to a third party company that specializes payroll management. A business enjoys quality services at a reduced cost. A good payroll outsourcing company in Mumbai utilizes the latest technology to manage and execute payroll operations. It comprises a payroll executive, accounts manager, customer service team, and statutory compliance consultants. Payroll processing is a time-consuming task that requires a company to keep track of changes in government regulations and norms; an act that consumes time and energy that could have been utilized to generate more business and profits. This is why online payroll outsourcing comes in handy.   Payroll-Services

Best Payroll Outsourcing Services in Mumbai

Payroll outsourcing services entail gathering employee information like pay rate, job title and hire date, calculating employees’ due pay, obtaining required time card data and issuing payroll checks or depositing employees’ pay into their accounts. But how can you ensure that you contract the best payroll services in Mumbai? Here is what you should consider;

1. Features

Apart from handling tax obligations and payroll processing, ensure that the company you contract offers other services like multiple payment options such as; paper check, prepaid debit card, and direct deposit. The company should also offer other services like; paid-time-off management, garnishment payments, wage rates, detailed payroll reports, unemployment insurance and worker’s compensation administration.

2. Reputation

It is advisable to work with a payroll services provider with an established track record. A good company reputation gives you peace of mind knowing that it has the capability to deal with different payroll issues that may arise.

3. Support

When looking for a payroll outsourcing company, ensure that it offers dedicated support services. Request to have a devoted customer support representative who acts as your point of contact when you have a problem arises. This ensures that you enjoy a flawless work experience with the payroll services provider.

4. Cost

Seek a payroll outsourcing service that your business can afford or whose charges are in line with your budget. This entails determining whether you will hire payroll services on a short-term or long-term basis. Long-term contracts attract a substantial cost discount.

Payroll Outsourcing Services in Delhi NCR

Based on your payroll requirement, you can customize the payroll services you intend to outsource in a bid to retain control of confidential business aspects. Commonly outsourced payroll processing services include; issuance of paychecks and depositing salaries, filling necessary government reports, administering employee benefits, calculating due state payroll taxes and making the payments as well as withholding pension and social security contributions. But, what are the steps followed by a payroll outsourcing company when executing these duties? The payroll outsourcing service provider will sync their payroll software with the relevant company and employee data like employees’ direct deposit accounts and payroll accounts. They obtain time card data at the end of each pay period to update data on their payroll software. They calculate the gross pay by determining the hours worked by each employee per pay period and incorporate new employee information. When making salary payments, the outsourcing service provider must process all pre-tax and post-tax deductions such as child support garnishment. After making necessary deductions, they deposit payments in employees’ direct deposit accounts, mail or deliver paychecks manually. They are also tasked with making payments to vendors like insurance companies and taxes on your behalf. At the end of each payroll period, the payroll outsourcing company must provide a detailed report highlighting all the executed payroll services.

Final Remarks

Payroll outsourcing is a critical business activity that requires a team of experts to eliminate inefficiency and improve performance. Hence, it is advisable to contract a professional payroll outsourcing service provider with a reliable payroll system that can managed different outsourcing requirements for start-ups and established companies.

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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.