Should Payroll Management be Outsourced or Kept In-House?

Payroll management services In India cover a spectrum of activities including salary and wages calculation, withholding of taxes, distribution of withheld funds to respective government agencies and direct deposit of in-hand salaries into the bank accounts of employees. These tedious and routine functions can keep any business owner or his key employees occupied while they could better have worked on more important revenue-generating or sales-enhancing activities. While saving time, payroll outsourcing in India can help cut cost and ensure accurate tax calculations. Payroll companies can offer HR payroll solutions that help to improve a company’s human capital management and benefits.

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Payroll is more than just cutting paychecks

Payroll outsourcing has been highly productive for companies and has been functioning since 1997. In the past five years this industry has recorded a CAGR of 15 per cent. In short, it is a win-win situation. Payroll outsourcing service For any business, managing payroll is indeed a dreadful task as it consumes a lot of man hours and is not also income generating. Employees are the backbone of every business. And businesses need to pay their staff. Payroll can also be your company’s biggest headache if it isn’t done correctly. Payroll processing is more than entering hours and printing paychecks. Simple mistakes can cost penalties and interest. In addition to keeping up with dynamic business scenario and government regulations, payroll processing proves to be time-consuming and costly tasks for most businesses. Whoever is doing your payroll whether a service provider or a member of your team must understand the relevant tax laws and regulations, all of which vary considerab...

Payroll Management Services

More than only standard accounting and tax filling services, Brooks Consulting helps in corporate tax filings and annual returns for the companies. We work closely with all our clients as we firmly believe that clear understanding of their business goal is crucial to impart the best payroll management services . Which system and procedures should be used to effectively deal with your company’s tax commitments? Where do you start? Tax management is daunting and risky undertaking at the best of times but these days businesses also need to combat with economic uncertainty and ever-changing regulatory oversight. Making sure that you have the right workforce in place and are employing the latest technologies to effectively manage your tax obligations, is not an easy task, especially if tax management is not the core job of your company. What’s more, tax deduction is different to different companies, depending on their divergent responsibilities within a company but one t...

What is Payroll Outsourcing

Payroll Outsourcing which involves employing an outside agency to do the routine work of managing salary, its calculation and payment, along with any other related functions, has transformed into an extremely successful industry. India is today one of the major destinations for payroll outsourcing. Some of the reasons for this are: Team is headed by group of Chartered Accountants which means all the statutory laws are taken care. Cost savings for the company on outsourcing payroll processing are extremely significant and can go upto 50% at times. Reductions and cost effectiveness can be achieved. Productivity is improved, as service quality provided is excellent and this frees the company from non-income generating tasks. Latest technology and software for payroll processing are used. Indian payroll processing service providers have a very highly specialized and expansive knowledge base in finance and accounting which would be of help to businesses globally. These...

Brooks - A Payroll Specialist, Since 1999

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