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What is Outsourcing?
Outsourcing is defined as delegating the non-core functions to an external organization that specializes in providing a particular service, function or product. Most organizations choose outsourcing because outsourcing offers a lot of advantages to them like they can concentrate more on core functions once they outsource their non-core functions. Now days, Organizations find outsourcing is an effective business strategy to help improve their business.
Payroll Processing:
» Receiving input data from client i.e. attendance Register, detail of resigned/newly joined employees.
» Preparation of monthly payroll with detail break-up i.e. department wise, location wise & cost center wise. Circulation of Monthly Payroll Sheet.
» Payroll Statement for Bank Transfer.
» Monthly Report of Statutory Deductions i.e. E.P.F., ESIC, Professional Tax & Labor Welfare Fund for timely payment.
» Pay slip to Individual Employees through e-mail
» Full & Final Settlement Letter of Resigned employees
» Update Leave Register, Salary & Wages Register
» Leave Report to Individual Employees through E-Mail.
» Preparation of Overtime Sheet.
» Computation of Leave Encashment Annually/Periodically as per Company Leave Policy.
» Online access of the periodic salary statement to Individual Employee
Tax Deduction At Source (TDS)
» Computation of Tax Card of Individual Employees & Circulate it directly to employees through E-mail.
» Compilation of Investment Declaration Documents from Employees to set-off rebate & deduction for tax saving of individual employees.
» Online Investment Declaration Facility to the Individual Employees
» Coordination with Accounts Payable team to deposit it on or before time.
» Preparation & Filling of Quarterly/Annual TDS Return of Salary (Form 24Q) As per Income Tax Act 1961.
» Generation of Form 16 & Form 12BA for individual Employees.
» Updating & Suggestion for Tax planning on periodic development on taxation matters.
» Support to Individual employees for Filling of Annual Income Tax Return.
» Online access of the periodic YTD statement & Tax Card to Individual Employee.
Employee Provident Fund
» Preparation of the statement of Provident Fund dues.
» Transfer of provident fund money to the RPFC.
» Assistance to the Company, during inspection by the PF authorities.
» Preparation of challan of monthly PF amount and filing of monthly returns.
Employee State Insurance Corporation Management (ESIC)
» Registration of Commercial Establishment/ Factories under Employees State Insurance Corporation Act.
» Filling of Form-3 for Eligibility of Membership.
» Maintenance of Eligible Employees Register under ESI Regulation Act
» Computation, Deposition and Filling of Monthly ESIC Challan with Govt. Authorities
» Filling of Half yearly ESIC Returns with Govt. Authority
» Filling of Form-01 (A) for Annual Intimation for Employees.
» Correspondence/Liaison with ESI Department, Information with regard to any amendment/changes in the act will be informed immediately.
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