Payroll Services for Effective and Efficient Organisational Human Resource Management

A business cannot neglect the payroll function as it is a function that helps to calculate the total amount the company needs to pay to its employees for a certain period. Paying the employees on time and accurately can be a laborious task for small and medium businesses.  It cannot be avoided as doing so will lead to employee dissatisfaction. Payroll management can be a time-consuming activity with a task like mapping timesheets, preparing employee pay slip, salary, PF and much more. One of the ways to take care of your payroll management is to outsource this function.

The payroll outsourcing service we provide reduces the burden of prolonged, tiresome tasks for many businesses, even those abroad. We have developed in-house accounting software by name ‘PAYROLE’, a cloud-based application which will provide a host of services relating to payroll activities like generating pay slip, filing PF returns, Professional tax, generate reports which can be downloaded in excel, provide access to a portal for your employees to get pay slip, upload Investment documents for filing Income tax returns and access to bulletin that may be issued by Employer. The payroll processing and support team, work towards helping businesses reduce administrative burden, helps them to effectively manage employer related risks and improves organizational effectiveness. Outsourcing payroll services also help in reducing costs in most companies.

AFCOS has been using this application and it can help you tackle your business payroll process. We provide payroll management outsourcing that aid in transforming your business's payroll management administration with a cost-effective and scalable solution. Our payroll management services allow you to give accountability for managing the payroll, taking care of payroll compliance and taxation regarding the payroll process. The employee payslips will be delivered to their official email id.
 

Roadblocks in Payroll Management

• Time-consuming - Payroll management is a time-consuming and tedious process, whether it is performing manually or using the software. Chances of error in both cases are quite high.

• Compliance - There are large number of compliances that businesses have to make sure of for different kinds of employees. And one must keep updated with laws and regulations in regard to the payroll management.

• Accuracy - there are various kinds of human resources – full-time, part-time, interns, contractors, and so on. This only adds up to the intricacy of the process leading to increase chances of inaccuracy.

• Fraudulence - Fraudulence like ghost employees, falsified wages and commission, or even fake insurance claims can impact your organisation as well as lead to a compliance issue.

• Dedicated Team - Organisations in India generally does not have Payroll Processing team or personnel. It is performed either by HR or/and finance department which is not suggested as it hampers productivity.

• Cost Implications - Payroll management requires the use of technology to reduce errors in the process. But investment in either a payroll system or in-house experts resources can be a costly affair for the business.

 

Payroll Management Services We Offer

• Payroll data entry, payroll data processing including tax calculation On-time payslip generation and emailing.

• Calculating the exact amount due to employees after deduction of taxes

• Recordkeeping & administration

• Employee payslips, salary, and PF

• Monthly, Annually Employer or Statutory compliance

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Payroll Management Process

• Setting a System - We set up a system according to your schedule, and then we prepare a calendar with relevant dates.

• Sharing of Data - Important data and timesheets are shared through email or via cloud storage services.

• Processing of Data - Based on your inputs, we calculate gross pay, deductions, net pay, provident fund, and so forth.

• Payment slip - We process all employee payments through a batch file and sent to client which can be easily used for sending to banks

• Review, Follow Up and Revisions - We review the activities at constant intervals, ask for your feedback and make revisions wherever required.

 

Benefits of Outsourced Payroll Services by AFCOS

With AFCOS outsourced payroll service, you get access to the highly trained team and can obtain dozens of benefits just like other clients who have used our services. We process over a hundred payslips every month, and so we can assure you that your payroll is processed accurately. Some other benefits of choosing AFCOS for your Payroll Service are -
•    Increased efficiency of payroll systems, controls, and processes
•    Increased confidence in the accuracy of payroll
•    Comfort that employees will be paid correctly, on time, every time
•    Customised to the need of the client's requirements
•    Confidence that your payroll management services function is compliant with legislation
•    Comfort around the security and confidentiality of sensitive payroll information
•    Over 2 year long experience for all sizes of businesses

Payroll Management

AFCOS has been providing Payroll Outsourcing Services to businesses for two years now. We provide a time-saving and cost-effective alternative to internal payroll management services that helps take away the burden of payroll for business owners. One must understand all the complex processes involved in payrolls like salary calculation, PF, tax calculation, tax deduction, payslip generation. These are best left in the hands of experts.

We have experts who are very well acquainted with the payroll management. And so, if you require payroll services in any place, our experts are well equipped and trained to use payroll management software in India. You can outsource payroll service for your business with us as we have experience in providing accounting, bookkeeping, payroll, and taxation for all scale of businesses in all places.