As India gears up for an interconnected economy, it’s imperative to roll out an inclusive statutory and compliance taxonomy that addresses complexities.
With organisations becoming more agile, traditional HR models are being redesigned. Tasks like calculation and deduction of statutory payments, uploading of data on respective websites and generation of challans, filing transfer and withdrawal forms for the provident fund, filing of returns with government agencies as per the schedule, registrations and renewals of respective licenses etc. involves a lot of time and resources of an enterprise.
Often time-consuming and complicated, processes towards registering and renewing or fulfilment of licenses, like the Employees State Insurance, Professional Tax Registration, and factory licenses are best managed through an outsourced payroll partner.
“HR and IT now have a growing priority to work together to ensure new technologies not only address complex business issues, but also meet the expectations of people who use them,” said Rakesh Jain, founder and CEO, Paysquare.