Before the payroll system is set up, consultation and planning are required. For example, company policies related to leaves and late-coming of staff need to be discussed and incorporated into the payroll system. Similarly, deduction of foods bought from the office canteen has to be included in the payroll calculations.
Our payroll team carries out pre-payroll consultations and planning with different departments to define Pay, Leave, Benefits, and Attendance policies. Consultations lead to input collection for pre-payroll planning.
After the payroll policy has been defined and relevant inputs are gathered, the process of input validation begins. Under this, we undertake the following services:
1. Preparing the authorization and approval matrix
2. Putting in place the right format for payroll activities
3. Ensuring that no active staff member is left out
4. Ensuring that no inactive staff member is included
*Depending on the unique needs of a company, our payroll team provides appropriate customization.
Actual Payroll Activities
1. Feeding validated input data into payroll system
2. Making withholding provisions for taxes and deductions
3. Reconciliation and verification process to avoid errors
After the employees are paid their salaries, proper reporting is needed to understand the costs and taxes borne by the company.
To this end, we provide detailed and insightful reports under various heads such as:
1. Department-wise employee cost
2. Location-wise employee cost
Every employer has to make sure that it deducts the applicable taxes from the employees’ salary and pays to the departments concerned. Besides, employers are liable to meet all legal requirements of employee benefits. Best Payroll services cover this aspect of obligations for the employers. Our legal department performs extensive research to understand the taxation and legal obligations of a country and region we serve.