Payroll Outsourcing services

There are several benefits to payroll outsourcing in which companies’ handover all their headache to payroll outsourcing companies and get relief from payroll hassles. Some of the benefits from payroll outsourcing include Outsourcing their payroll processing actually helps the organization save cost. Managing payroll processing with in-house employees can get very expensive, considering the infrastructure expenses as well as the cost of errors and missed compliances.

• They get access to professional payroll processing services


• They do not need to worry about complex rules and calculations, which change often


• They get ready access to better reports, instantly


• They have access to experts in payroll processing and payroll management field


• Enhanced data security including back-ups and redundancy mechanisms


• They can avoid investments in technology and related upgrades

Nowadays, most organizations are looking for cost effective & flexible payroll management solutions. They also are looking for solutions in bookkeeping and accounting, where they can get access to advanced reports and where bulk of the processes are automated. Payroll is a non-core activity for HR whereas accounting services is an integral part of an organizations operational capabilities and systematic functioning. Both activities are important for any organization and any mistakes or non-adherence to laid out compliances can be costly. Most successful organizations thus outsource their entire payroll processing and accounting, helping organization to streamline their business operations.

There are several things to be considered when companies planto outsource their payroll processing in India.Some of them include.

• Cost of outsourcing payroll processing vs a hiring an in-house payroll management team


• With your current payroll management process, what is the level of Accuracy and consistency? Is payroll processing happening consistently on time and without any errors?


• Do you have access to payroll related domain expertise, so that you have the right advice, when it comes to interpreting specific regulations?


• What is the level of automation that you are able to achieve in in entire payroll processing?


• Is the end to end payroll process reliable and easy to manage?


• While you are managing payroll processing, how are you taking care of data Security, back-ups and redundancy mechanisms.

The cost of payroll outsourcing in India depends on the scope of work defined between the service provider and the organization. Usually the number of employees in the organization can give you a ball park view of what outsourcing payroll services is going to cost, but to get to detailed costs, it is necessary to reach to an agreement in terms of scope of work included for payroll management. The scope of work could include monthly payroll processing, compliance management-PF/P.TAX. /ESIS/Taxation returns filing, other activities like Full & Final settlement, Investment proof checking and auditing, Form 16 generation, Default notice management received from the Income-tax department etc. all these activities are processed on a monthly/quarterly/yearly based on client requirements.