Payroll and Compliance Management
- Payroll compliance is the consolidated set of activities involved in the production of the payroll, capturing the data and controlling it along with the calculation of allowances, deduction, benefits and the net wages. It also includes the process of editing and dispatching the pay slips and in conformance with all legal and third-party declarations. It can also be defined as the business process that includes applications and best practices that enable effective calculation of pay components and funds distribution maintaining compliance with all regulatory aspects.
- Salary computation involves checking and authorizing on the details of the employee before processing the pay slip. These details largely include his personal details like designation and attendance. Also variables like deductions, loansand additional allowances are tracked so as to verify the details before processing. We handle any kind of salary discrepancies or queries that are brought forward by the employee regarding the payroll variables and components
- .As an example – special leave availed, compensation off, performance appraisal, etc. are tracked and maintained by us. We also take the responsibility of maintaining all the statutory records that are required in the payroll compliance process. With the recent integration of IT and business processes, it is possible that ERP could handle the complete payroll compliance process in an integrated manner. But the system still requires inputs and details about the employees so as to process the payroll computations.