Brooks - A Payroll Specialist, Since 1999

  🚨 Beware of Payroll Fraud! 🚫💰 Running a business requires effort on all fronts. You must ensure that output is always at optimum level so that workers are satisfied and feels motivated with the company culture. Another critical aspect is safeguarding a company payroll system against payroll frauds. Stealing within a company can take place in many ways, such as stealing raw materials, infrastructure vandalism and machinery. However, payroll fraud is the toughest to detect because it’s often secretly invisible. According to Forbes reports, Payroll frauds happens in 27% of all businesses and occurs nearly twice as often (14.2%) in companies with less than 100 employees. We created this Blog on payroll fraud to help you understand how it affects the SME or Large business and what payroll fraud prevention methods can be implemented. What is payroll fraud? Payroll fraud happens when an individual illegally does time theft when they add working hours that they do not work or changes ...

  Although salaries are part and parcel of any business, often employers aren’t aware of the technicalities involved. While it may not seem important to some, structuring salaries correctly, reduces your liability as an employer as well as an employee. Although salaries are part and parcel of any business, often employers aren’t aware of the technicalities involved. While it may not seem important to some, structuring salaries correctly, reduces your liability as an employer as well as an employee. For instance, allotting a large portion of the salary to the “Basic” component means your liability towards provident fund or ESIC contributions are also going to be higher. For startups, getting this right in the early stages could save you the trouble later. Objectives of the perfect salary structure While creating the ideal salary structures, there are three things you should keep in mind It should be tax efficient:  This means that it should give employees the opportunity to sav...