What Do Payroll Companies Do?

Just like their name suggests, companies that specialize in payroll services work with their clients to ensure that employees are paid on time and that all of an employer’s legal obligations are met. Because they focus only on payroll and human resources tasks, these companies take the worry out of payroll processes. That allows business leaders to focus on important enterprise tasks instead of worrying about how and when individual employees will be paid.

Payroll service includes the following :-

1. Preparation of Monthly Salary Sheet.
2. Deductions as per applicable laws like Income Tax, Provident Fund, Professional Tax etc.
3. Computation and deposit of TDS, ESI, PF etc.
4. Disbursement / Online Payment of Salary.
5. Pay slip by password protected e-mail.
6. Reimbursement of telephone, medical bills etc.
7. Issue of Form 16 to employees.
8. Periodic Reconciliation of payments / statutory deductions etc. with books of accounts.
9. Administration of gratuity, superannuation, pension schemes etc.