Payroll Outsourcing Company in Pune
to meeting statutory compliance’s and filing ITR, we help you manage it
all accurately and efficiently.
Common payroll challenges which companies face while outsourcing payroll services in Pune
When companies have presence in multiple locations and multiple countries, it becomes very difficult to sign-up with a payroll processing partner, who not only meets best in class local standards, but also meets top class global standards and is the best in class for payroll management services. A company that can meet both local and global standards is able to offer superior service and an exhilarating experience to customers.
Paysquare provides these answers. With several years of experience, Paysquare works with local as well as global customers.
While every payroll management vendor offers different solutions, what you look for is the ability of a vendor to meet your specific requirements in terms of reporting or meeting specific standards etc. A vendor who does not have the right technology platform finds it difficult offer flexibility to meet client requirements. They have to do a significant portion of the work manually, which becomes error prone and expensive.
Payroll processing can be a time-consuming process, when done manually. Even if you use some excel based solutions, it continues to remain manual in nature. For this to happen the payroll processing company needs to be committed to using technology in the right way. With a payroll provider partner like Paysquare, you are in safe hands. With significant investments in technology, both at the back-end as well as in terms of the web based front end, Paysquare provides a wow factor to clients, while it provides payroll management solutions.
Across organizations, data management is a massive challenge among payroll departments. Moreover IT department will expect organizations to maintain records for a few years. Even in terms of business continuity, it is necessary that the payroll processing vendor have back-up locations or redundancy, so that if one of their servers is affected, the payroll operations for the customer will not be affected, as the data will be mirrored on a different server.
Payroll outsourcing is a process of assigning the process of payroll management to a third party with expertise in this area. Since payroll is mostly an extended department and not the core department in almost 99% of the companies therefore by outsourcing it, the primary advantage which the company enjoys is a reduction in the overall cost as well as quality of service delivery. Paysquare is one of the best payroll outsourcing companies in Pune. The team makes use of the latest technology to manage the payroll operations.
5 Key Reasons of Outsourcing Payroll
The fluctuating economic conditions and global uncertainties compel businesses to constantly work on ways to streamline their business processes while remaining cost-effective. Outsourcing time consuming and non-core business process activities can help to boost business productivity by enabling organizations to focus on mission critical tasks.
5 Key Reasons to outsource Payroll Processing
No Major Infrastructure
Implementing and managing payroll management systems in companies can be a drain on resources. Effective payroll systems require the purchase and maintenance of extensive infrastructure such as hardware, software, network capabilities and nowadays, cloud technology.
Delivers Considerable Time Savings
Time is precious and all organizations are aware of this. Time wasted on non-critical yet unwieldy processes can be costly and a significant distraction for companies. As per research conducted by an agency, in-house payroll processing contributes a great deal to wasted time and loss of productivity.
Reduce Security Threats
Managing payroll process outsourcing and different payroll service providers can often be a nightmare for organizations as there are many security aspects involved. By working with a vendor, who has robust mechanisms for data protection, you are in safe hands.
No Additional Staff Required
Maintenance of payroll in-house requires the recruitment and training of staff which can be quite expensive. Once you outsource your payroll, you have no such requirements.
Results in Improved Taxation Efficiency and Reduced Arrears
The complex nature of payroll processing places additional responsibility on the payroll processing provider to ensure compliance with all regulations including payroll regulation and taxation stipulations.
Selection Criteria for Outsourcing Payroll
Most of the small business owners who want to concentrate in building and establishing their businesses can save their time, as well as money by Payroll Outsourcing
- How much Payroll Outsourcing cost?
Costing depends upon the scope of work defined and the no of employees. Scope of work would 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.
2. Which seems to be a good option, In-house or outsourcing Payroll?
Understanding the payroll process flow adopted by the partner. How does the partner process payroll for its existing clients.
Internal audit practices built by the partner to maintain the accuracy in data.
Knowledge on the subject matter. Is the partner updated with the changes happening in statutory compliance? E.g taxation, investment, P.F.,P.TAX etc.
Customized plan of action designed by the partner for the client in order to maintain the deadline of the payout date.
Factors of Payroll
When hiring any company for outsourcing the payroll processing in Pune, you need to consider some important points
How much is the company charging for its services?
The whole point of purchasing payroll services for small & Medium sized business is so you don’t have to pay payroll tax penalties.. Accordingly, there are certain payroll services that come with a guarantee. They promise you won’t face any fines—and if you do, the services will handle them.
Even with the best payroll services for small & medium size business, payroll is complicated. It’s always important to make sure that you have chosen the right company for Payroll outsourcing service.
You’re in an industry with specific payroll demands, you’ll want to double-check that your favourite service can handle those extra steps.
Our list of happy clients keeps on growing and we are very happy to be associated with them
Our customers love us for the consistent value that we deliver to them
Get in Touch
Get in Touch with our experts
Contact us for any payroll related query. Our sales representative will get in touch with you
Read more about Paysquare, our culture and our team members