payroll outsourcing services in Mumbai

1. payroll outsourcing services in Mumbai We’re Leaders in Payroll, HR, Attendance Tracking, Leave Management and More We provide a truly comprehensive range of payroll, accounting and HR related services. These include: leave management , attendance tracking, HR Data tracking, PEO/ EOR services, investment and income-tax calculations – and much more. We’re an award-winning company. Our growth is based on providing great value, high quality web-based service to over 800 hundred of clients. We process over 4 million payslips per annum.

2. Our web-based systems : ● Provide accurate up-to-date information for you and your staff, via the web, 24/7. ● Are truly comprehensive, from timesheet or biometric sensor, to payment. Everything is in one place for you and your staff. ● Eliminate errors enabling you to focus on delivering value to your company ● Include full reporting on a full range of reporting functions ● Are highly configurable to meet your specific requirements ● Are fully compliant with all legal reporting requirements ● Are flexible and can grow with your company, providing a strategic fit to your longer-term requirements. ● Are managed by Chartered Accountants – quality is built in. ● Are fully supported via our local support centres in: Mumbai, Pune, Hyderabad and Bangalore. Learn how we can help you reduces your payroll and HR costs, and enable you to add value to your business. Call us on +91 (20) 6763 7117. Also to learn more about our global payroll & PEO/EOR services you can click here. Payroll outsourcing is one option for paying workers in a domestic or foreign location use of a third-party payroll provider. We have put together this quick guide to payroll outsourcing, to outline the pros and cons and the main reasons to outsource your pay employees on assignment.

3. What is Payroll Outsourcing? Payroll outsourcing is simply the use of a service provider to handle the administrativ compliance functions of paying employees. It is important to note that payroll service only that, and do not offer a local employer of record for the foreign company. This m that local incorporation is still required, and the other aspects of employing workers m handled DIY or by other experts. When to Outsource Payroll? The question of when to outsource payroll depends on several factors, such as numb employees on assignment, whether a company has a local entity and the complexity host country laws regarding employment and withholding. In many cases, the time a of setting up and administering a local payroll cannot be justified, so the payroll functi outsourced to another host country firm. While many small businesses routinely use payroll outsourcing, larger companies can benefit from this service when sending workers on international assignment to a new In that instance, a company can elect to use either a local payroll provider or a GEO s which offers comprehensive employment support to its clients, including a compliant for all employees in that country. Depending on their needs, a company may customize the payroll services that they outsource, while retaining control of other aspects. The payroll functions typically outs to a third-party provider include: ● Running payroll and making employee pay and withholding calculations ● Depositing funds directly or issuing checks to employees ● Calculating state and federal payroll taxes, and making tax withholding payments ● Filing required government reports ● Administering employee benefits

4. ● Withholding social security and pension contributions Why Outsource Payroll? Running an in-house payroll can be a challenge for smaller companies, or a business HR and accounting professionals on staff. Outsourcing is one method to avoid hiring additional employees or contracting with specialists. Companies choose to outsource payroll for several primary reasons: ● Cost savings by avoiding the need to use in-house resources to comply with complex payroll requirements ● Ease of ongoing administration of payroll through changes in personnel, reduction or increase in compensation structure and filing of reports to government authorities ● Avoiding mistakes and tax compliance penalties ● If using a GEO service in a foreign country, no need to establish legal entity to run a compliant payroll What Payroll Functions Can Be Outsourced? Depending on their needs, a company may customize the payroll services that they outsource, while retaining control of other aspects. The payroll functions typically outs to a third party provider include: ● Running payroll and making employee pay and withholding calculations ● Depositing funds directly or issuing checks to employees ● Calculating state and federal payroll taxes, and making tax withholding payments ● Filing required government reports ● Administering employee benefits ● Withholding social security and pension contributions

5. Benefits of Outsourcing Payroll The advantages of outsourcing payroll for both small and large companies are numer a large percentage of businesses use this type of service abroad. The benefits of cos time savings, filing of reports and avoiding compliance issues make payroll outsourci popular service. Those advantages are multiplied in foreign markets where payroll ru tax laws are unknown to a new business, and a local payroll provider can be a valuab partner. Disadvantages of Outsourcing Payroll Outsourcing payroll is a limited, administrative foreign employment solution, and does guarantee compliance with taxation, immigration or labor laws in the host country. Th provider does not offer the foreign company a local employment entity, so incorporatio required along with registration and other compliance measures. Other practical disadvantages include losing control of compensation and employee d security issues and lack of service quality or timely reporting. These can be offset by thorough research of the payroll providers in the country and selecting the best firm a What to Ask When Outsourcing Payroll There are a few key questions to ask any payroll provider prior to outsourcing, to min any issues with service quality: What are the basic and/or add-on services offered? How do they secure confidential employee and payroll data? How many clients do they have and for how long? Do you calculate tax withholding for each employee? What rates do you charge for running payroll per employee, and is there different pric higher volume?

6. Do you assist with generating tax forms for local tax filing purposes? A Step Beyond Payroll Outsourcing: Employer of Record Solutions There is a more complete solution for running a foreign payroll through a GEO emplo record. The ‘employer of record’ (EOR), sometimes known as the local employer of r a third party contracted to take responsibility for all formal employment tasks, not only The EOR is charged with carrying out the legal and regulatory requirements of immig employment and payroll, but does not participate in day to day work activity of the em Specifically, the employer of record is the legal entity that: ● Arranges all visas and work permits for the employee, avoiding delays or refusals ● Provides a registered entity for running a local, compliant payroll inside the country ● Meets all host country labor laws pertaining to local contracts and worker protections ● Advises the client of required notice periods, termination rules and severance pay ● Is the host country interface between the employee and government authorities The advantages of a comprehensive EOR solution as offered by Shield GEO are obv since the client company does not have to establish a local corporate entity or worry a numerous compliance requirements in the host country. An EOR does all that a payr provider can, but also much more, so that a multinational has a true end to end emplo solution in one or more foreign markets. Outsourcing payroll might have its place for companies that have a commitment to a abundant resources and have already established a local entity. But for other busine entering a market, or with limited HR resources, the EOR solution is ideal to ensure fu employment and payroll compliance.