What is payroll processing?
Payroll can be defined as the sum of all financial records of salaries, wages, bonuses and deductions in an organisation. Payroll processing and payment is a key function that plays an important role in ensuring that timely and appropriate payments are made to all employees.
Why outsource payroll processing to India?
Timely and appropriate payments need to be made to employees in order to maintain their level of satisfaction and motivation. By outsourcing payroll processing to India, companies are relieved of the tedious and routine responsibility that is required and instead they can focus all their energies and resources on other core business areas. Moreover outsourcing will effectively reduce the operation costs by 40-50%.
What are the different payroll services that can be outsourced?
- Check processing and delivery
- Signed and sealed payroll checks
- Quarterly and annual tax reports
- Complete tax filing services
- Employee insurance deductions
- Time and attendance system
- Easy-to-read management reports
- 940s and 941s
- W2 and W4 reporting and filing
- Reconciliation of health insurance payments
- Direct deposit payments with "paperless" payroll options
- Direct deposit accounts for each individual employee
What are the various kinds of software used in payroll processing?
Indian service providers use the latest software available to ensure fast and accurate services to all their payroll processing customers. Clients can choose from any one of the following
- Quickbooks (Intuit) Payroll
- PayCycle
- PayChex
- ADP
- Deltek
- Accountix
What are the advantages of outsourcing payroll processing to India?
Indian outsourcing companies provide flexible, high-tech and secure services to meet the individual needs of each client. The many other advantages include
- Easy, convenient and reliable payroll process that is extremely cost-effective
- Well qualified and experienced personnel who deal with each account exclusively
- Help with other administrative business functions such as HR and time and attendance
- Customized payroll accounting solutions to accommodate your individual needs
- Complete payroll processing, tax administration and reporting service
- Accuracy in calculating of payroll
- Timely tax filing
- 24/7 customer support provided by experienced Payroll and Benefits professionals
- Confidentiality of all company information
Outsourcing payroll processing will thus enable both small and large businesses to save on costs, improve focus on core business competencies and most importantly enable economic growth without any manpower constraint.
