PAYROLL OUTSOURCING

Payroll outsourcing is a process of assigning the process of payroll management to a third party with expertise in this area. Since payroll is mostly an extended department and not the core department in almost 99% of the salary outsourcing companies, the primary advantage which the company enjoys is a reduction in the overall cost as well as quality of service delivery.

IT Champs is one of the best payroll outsourcing companies globally. The team makes use of the latest technology to manage the payroll operations. A team of an account manager, payroll executive, consultants for statutory compliance, help desk team help in managing the payroll processing.

✓ Leave and Attendance

✓ Employee Self-service

✓ Query Management

✓  Client Admin Self Service Portal.

 

Why IT Champs?

IT Champs is referred to as the best payroll outsourcing companies.

IT Champ is a kind of company that has the proper understanding and knowledge about the latest norms of payroll management. The company pays full attention to make the payroll records error-free. IT Champs is always attentive about maintaining the security of the data of the clients. To maintain the high standard we follow the most efficient operating procedures to protect the information and utilize them as per the norms. Our teams of experts keep an updated track of newly launched regulations of labor and Income Tax law.

 

Our Benefits:

A robust and dedicated team with strong knowledge of SAP.

  • Quick query resolution turnaround time by the help desk associates.
  • Filing of monthly return and PF advice
  • Creation of the MIS reports easily when required.
  • DS advice as well as return
  • Consultation for your employees at the end of the year for investment and tax saving related purpose.
  • Bonus advice as well as return
  • Pay slip generation with details of tax as well as CTC
  • ESIC advice as well as return
  • A provision to opt for a FBP (Flexi Benefit Plan)
  • Generation of Form 24Q for Quarterly TDS return
  • Return submission and professional tax advice
  • Generation of Form 16.

 

 

 

 

Payroll Services:

 

Payroll services is very complicate if whole process didn’t work properly and managing entire payroll in house create a lot of challenge related to salary on time, less cost, tax and compliance related. One wise quote suggested that keeping the employee’s happy means that half the work is done. If you prefer precision and time-effective quality in your Payroll services process, try out our Payroll services where we provide end to end payroll solution along with saving valuable time and resources, the process helps in avoiding the human errors.

 

Wherever organization is looking for payroll services, one thing they remember that in the fast culture and hectic life where every activity need to run on quick basis.

 

Monthly Payroll Outsourcing Services Activity:

Payroll is the most important aspect of any business. No organization can work without payroll. Employees have to be paid and they have to be paid on-time. Research shows that paying employees on time is a key motivating factor. Today’s biggest challenge for any organization is error-free payroll processing with updated regulations and compliances management.

 

 

Accounting:
  • Salary calculation on monthly basis and also if any changes in salary structure and other variable components.
  • Pay slip for the month.
  • Monthly reimbursement processing. (Allocated / Claimed)
  • Salary comparison Audit report.
  • Processing your payroll based on the latest legislative updates
  • Monthly Accounting JV report.
  • Full and Final Settlement of employee.
  • Monthly Tax Chillan payment report.
  • Tax calculation and year end investment declaration.
  • Monthly Statutory compliance challans for P.F/ P.TAX/ ESIC.
  • Final report provided to client comprising of MIS and Compliance Statutory Reports. i.e.
  • Generation of Form 16.

 

Payroll Compliance Outsourcing Services Activity:
  • Provident Fund (PF)
  • Validate the claims based on your policies
  • Employee State Insurance (ESI)
  • Integrate the validated claims with payroll data
  • Professional Tax (PT)
  • Send consolidated reports on changes made
  • Labor Welfare Fund (LWF)
  • Payroll outsourcing
  • Processing Reimbursements and Arrears

 

Payroll Compliance Outsourcing Services Activity:
  • Monthly salary processed based on data provided as per attendance sheet, change in salary structure and other variable components.
  • Calculation of TDS based on the proposed investments received from employees.
  • Audited data with discrepancy report provided to the client for final approval.
  • Generation of Bank transfer files for the credit of monthly salary.
  • Full and Final Settlement for resigned employees.
  • Salary register for the month.
  • Salary comparison Audit report.
  • Monthly Accounting JV report.
  • Monthly TDS Challan payment report.
  • PF Monthly forms and Challans in electronic & paper format.
  • ESIC monthly contribution file in electronic format for uploading on ESIC Portal.
  • Profession Tax Challan and reports.

 

 

 

Quarterly Payroll Processing:
  • Updation of monthly TDS challan payment details.
  • Reconciliation of monthly TDS challans, with TRACES before creation of quarterly eTDS files for
  • NSDL submission
  • Generation of eTDS returns along Form 24Q and Form 27Q for NSDL submission Year End Processing.
  • Investment proof audit (Proposed vs submitted vs rejected), submission of discrepancy report to client for final approval.
  • Final Investments record updation and final tds deduction report submission to client for approval.
  • Generation of eTDS returns along Form 24Q and Form 27Q for NSDL submission.
  • Generation of digitally signed TRACES Form 16 (PART A & PART B) combined in single pdf.
  • Annual MIS reports.

 

Other Services:

TDS Correction, revise returns filing:

  • Tds correction and filing of revised returns.
  • Analysis of default notice received from tax department and proposing the course of action.
  • Drafting of reply to default notices received from tax department.

Reimbursement Proof Checking and Processing:

  • Auditing of reimbursement proof submitted by employees.
  • Submission of discrepancy report of approved and rejected proofs by auditors.
  • Processing of reimbursement for payout as per the approved limits.
  • Calculating and accounting the tax impact as per the IT Law

Investment Proof Checking:

  • Checking of 80C investments / Other deductions for tax purposes.
  • Submission of discrepancy report of investment approved and rejected by our auditors.