Payroll Outsourcing

Payroll is generally processed in-house either manually or with the help of payroll software. Payroll outsourcing is getting this task done thru an external service provider. Tax print is the service provider that can take care of your payroll processing needs.

Payroll is the process of paying employees for services rendered, after processing of the various requirements for withholding of money from the employee salary for payment of payroll taxes, insurance premiums, employee benefits, garnishments and other deductions.

Every payroll outsourcing assignment involves month-to-month calculation of salary, TDS working, computation of legal dues for PF, ESIC, Professional tax etc. At the end of payroll processing each employee needs to be given pay slip and accounts department need to be given salary register, legal payment sheet and several MIS reports. Periodical legal reports are also taken care by the payroll

Apart from the above, some additional tasks can be performed by payroll processor e.g. reimbursement management, scrutiny of investments proofs, liaison with PF / ESIC authorities for various forms submissions etc. When signing a contract for payroll processing, the scope of work is mutually agreed between the company and the payroll processor.