Payroll Managment System
How does Payroll Management System benefit you?
As businesses grow, employee management becomes complex. What you need is a Payroll Management System that is easy to use, employee-centric and HR effective. Whatever stage of business cycle you are in, payroll services is sure to benefit you. We offers a new age Payroll Management System to manage new-age workforce.
The Payroll Management System allows you to take your human resources management to a higher level. Even the top payroll providers in India understand the importance of error-free payroll management activities. With extensive range of services, your organization can enjoy a payroll process which is timely and accurate.
Here are some of the payroll services that are provided by Capitaplus:
Employee Self Service (ESS): Online technology for employees ensures to view salary slip, submit IT declaration, decide FBP, submit query , Online Access to View/Print Salary Slip , Automated Attendance, Leave Import/Export Solution , Web-based Leave Solution , Reimbursement Management , Replace Excel to Web-based Processing of Payroll, Reimbursement, F&F, Reports Generation, E-challan Generation. Effective payroll administration can be a catalyst for this alteration. You can think of payroll outsourcing as an experienced provider, when you don’t want to manage all payroll processes in-house. A reliable payroll outsourcing company offers efficient and better payroll management process for your organization.
Managing payroll entirely within your organization can be a headache because of stiff penalties for non-compliance to statutory requirements, and other issues that are not straightforward. It may seem simple from the outside, but many companies that do their own payroll processing discover that it may not be all that cheap and simple, especially when you consider the time that is spent in managing the entire process. With Payroll Management System you can rest assured that you are with one of the best payroll companies in all aspects of human resources management services, including payroll.
Payroll management consists of a lot of stages and procedures that require expertise in the department. Payroll software offers lots of different advantages – for the user, the employees and the company. This article looks at some of the most obvious advantages to expect when you make use of payroll software:
- Calculating and paying wages, settlement of tax withholdings
- Delivery of wage calculations and certificates to the employees
- Compiling statistics for different authorities, and for the purposes of improving activities
- Drawing up employment contracts
- Providing regulatory reports to the tax agencies and insurance companies
- Calculating annual holidays
- Managing deductions for employee benefits
From all the basic payroll management to HR, statutory compliance, complete benefits administration, leave management, and time tracking, we are here to help you. Schedule a consultation with us right away to learn more about the advantages offered by a HR outsourcing company.
7 great reasons for SMEs to outsource their payroll processes
The small and medium enterprise (SME) space is highly competitive, so every rupee and every man-hour spent is crucial. Focusing on core competencies is vital in running a lean, effective organization and it makes sound business sense for an SME to outsource a process like outsourcing. Let’s look at a few of the major reasons SMEs are choosing to turn to payroll services:
1. Focus on building your business: Payroll management is a complex and time-consuming affair. You want your staff to focus on activities that generate value and drive profitability; outsourcing the process frees them to do this.
2. Save money: A payroll service provider with a well-established business can afford to charge you a rate that works out to less than it would cost to hire skilled personnel in-house or part-time to do the same work.
3. Avoid penalties: There are many legal requirements and nuances pertaining to payrolls; an outsourced payroll service takes on the burden of ensuring that you comply with all these requirements, potentially saving you a lot of time and worry.
4. Reduce stress: Manually managing your own payroll may work with a workforce of less than 5 people, but for any organization larger than that, all the details involved in maintaining a payroll, making payments, filing returns and so on month after month can add up to a hefty serving of stress. Stress that a payroll service can take off your plate.
5. Simplify your IT infrastructure: If you’re handling your payroll in-house, you face the recurring question of whether you have the latest payroll software and tax sheets installed. Outsourcing to a dedicated payroll partner ensures that these technical issues are addressed automatically without your direct involvement.
6. Rely on the experts: A company that offers payroll services brings to the table a great deal of experience and knowledge in this domain. Previously, only large enterprises could afford to hire personnel with this kind of expertise; an outsourced partner gives you access to this level of expertise without the expense of hiring a highly skilled resource.
7. Expertise you can depend on: Even if you do hire a skilled bookkeeper, the chances are that he or she will move on at some point, taking all that skill, knowledge and experience. Outsourcing eliminates your dependence on individual skills and knowledge.