Payroll Services in India – Introduction

Payroll Outsourcing in India

Your search for the best payroll consultants in Delhi ends right here! SCBC is a premium agency offering payroll services in Delhi. One of the most important processes in any organisation is processing salary for employees. This process is more than just crediting salary in the employees’ accounts. The admin or the HR needs to calculate the leaves, incentive, overtime, bonus, increments, reimbursement, and more. On average, two to three executives may have to work for a week or ten days to process the salary each month. Payroll outsourcing is the process of using a third-party service provider to handle all the compliance and administrative tasks of payroll management.

The various functions of payroll processing that can be outsourced include:

  • Making employee pay after calculating deductions and incentives
  • Calculating tax on salary and withholding tax amount from salary for tax payment
  • Filing all the essential government reports
  • Managing employee benefits

Why should companies consider outsourcing payroll and what are the payroll outsourcing benefits?
A few of the reasons you should go for payroll service providers in India are:

  • You will work with professionals with plenty of experience in finance and accounting
  • You will have access to advanced technology for payroll processing
  • You can save up to 50% of the costs involved in payroll processing and related tasks
  • You can efficiently deal with employee queries regarding the salary calculation
  • You will have a database of all the salary, increment, incentive, leaves, and bonus details
  • You can be assured of the confidentiality of data

What is the need for businesses to do payroll?
Keeping a record of the salaries paid to employees is an instant thought that comes to mind. But there’s more at stake for businesses. Payroll has a serious impact on the net income of an organization. It is also a business function that is subject to several laws and regulations. Because of the legal and ethical factors involving payroll, it is very crucial for businesses to do payroll and keep a spotless record of its payroll.

In cases where they are unable to maintain a clean record, some of the common notions that spread within the employees about your business include financial instability of the company, poor and untrustworthy management.