REQUEST A QUOTE
Facebook Instagram

Payroll

What is Payroll processing?

Payroll is a list of employees that are paid by the company. Payroll is the total amount the employers pay to the employees. A payroll function involves the development of an organization’s pay policy that includes flexible benefits, and a leave encashment policy.

Payroll management also includes payslip components like basic, variable pay, HRA, and LTA. and also gathering other payroll inputs like the organization’s food vendor supply, etc.

 

Payroll and HR management also involve releasing the employees’ salary, depositing the dues like TDS, PF, etc with appropriate authorities, and filing returns.

Put together Payroll processing includes the calculation of the Net Pay after the tax adjustments and other deductions.

Payroll processing and HR management
  • Payroll processing and HR management are highly complex tasks for most small businesses due to the various compliance requirements in India.
  • Most startups do not even have a well-established HR system and processes leading to a discrepancy in hiring the top talents, retaining good employees, and even building a productive workplace culture.
  • By outsourcing payroll and HR management to Tracequality, an individual can enjoy a stress-free and error-free payroll cycle every month.
  • Also, our HR experts can help in implementing world-class HR processes in the organization from day one to support the growth of the business.
Payroll processing in India
Pre-Payroll Activities
Defining payroll policy

The first step is wherein the policies of the bank during the payroll processes need to be established. These policies need to be approved by the management to turn these policies into standards. Policies like the Pay policy, Attendance policy, leave and benefits policy, and more.

Enquire now

©2022. Trace Quality . All Rights Reserved.

Powered by Powerinfotek