Even the most meticulous and experienced professionals find that payroll can be a headache. Therefore, these days, organizations not only look for cost-effective solutions to systematically run non-core activities like accounting and payroll services, but also expect to add value in order to achieve better control and understanding of cash flow and thereby make informed decisions. In spite of being considered as non-core, accounting services form an integral part of an organization’s operational capabilities and systematic functioning. Therefore, outsourced accounting and payroll processing services definitely help streamline core business operations of an organization.
Aristotle has the complete skill set with respect to payroll services. We take end to end ownership of Payroll Services which include:
Salary Management Services
Aristotle Consultancy is engaged in providing Salary Management Services to its clients. We possess immense expertise in providing salary management services to the clients. We have employed a qualified and experienced team of professionals to look after our firm efficiently and reliably to manage the various factors:
• Provident Fund/ ESI/ Professional Tax (PT)
Aristotle Consultancy takes away the burden of all compliances related to ESI and PF contributions from the company’s side as well as employee’s side. Our teamput an end on increasing complexities of payroll processing and it offers following benefits:
1. Accuracy in calculating PF, ESI and PT and other relatedcompliances.
2. Increase transparency in the payroll processes
3. Maximize efficiency of payroll administrators
• Filing TDS and Form 16
We provide complete outsourcing solutions in the areas of TDS. We file quarterly TDS Return & related data processing. Our professional team takes care of smallest detail such as correct rate of TDS, entry of correct PAN in the return and verification of TDSchallan details,etc.
Non-compliance of TDS provision can result in disallowance of expenses or penalties. Our expertise in outsourcing means that our clients can continue to focus on their core competencies, unlocking valuable management time. We also issue on behalf of employer TDS certificates in form-16 (Part A& Part B). Beside all this you will get regular update on changes in income tax law and procedure through our professional update mails.
• Full and Final Settlement
Full & Final Settlements commonly known at the FnF process is the procedure required to be followed by the employer after the employee has resigned from his/her services. The procedure is fairly simple and is as per guidelines set out in the appointment contract. We help the client in terms of settling unpaid salary, Un availed Leaves & Bonus, Gratuity, Pensions, etc.
Payroll Helpdesk Services
• PF withdrawal & ESI Claiming
We assist in filing the PF and ESI on timely basis and ensure smooth functioning of withdrawal formalities associated with the same.
• Monthly Helpdesk
We conduct a monthly helpdesk for all our clients in which our dedicated payroll team visit the client for having a Q&A session and taking up query from employees related to payroll and finance
Labor Welfare Fund (LWF) too has Challans that need to be submitted every now and then. We will generate these required LWF Challans for you, regularly on time. These include State wise Monthly Challans and Annual LWF Returns.
• Tax Calculations/Deductions
Income tax calculation for employee’s salary structure is most important and critical part to find out their tax liability as TDS. In this regard, we provide the solutions in calculating the tax liability ensuring the Income tax Planning by complying with the income tax provisions and Law.
• Leave Policy
Off course, not all employees are treated same when comes to leaves. You may have different leave policy for your c-suites, managers and front-line employees based on their department, seniority and loyalty. Our team design flexible leave policies and ensure seamless implementation of the same.
• Company Policies
The services include designing and implementing the following policies and procedures:
1. Joining and On boarding – Confirmation-Exit processes
2. Induction manual.
3. Staff policies (Travel, Mobile, leave, attendance,Over Time, harassment etc)
4. HR Audit – Employee files, data compilation, reports, MIS
5. Performance management – goal setting, defining KRA/KPI, tracking process
6. Salary process, compensation and benefit structure.
7. Organization structure, grading system, Job description etc
8. Salary Advances and Loans Policies.
Apart from saving valuable time for CFOs and other executives, Aristotle Consultancy provide the following benefits:
Focus on Outsourced Task& on Revenue Generation:
Aristotle Consultancy would give utmost priority to manage the business of their customers well. If this function is executed in-house, it would be of secondary importance to the business, and revenue generating processes would be given the priority.
Capitalize on Special Expertise:
Your business can take advantage of the fact that the Aristotle Consultancy is having a much larger and more specialized staff. We can ensure that there is a small group of expert outsourced accountants working on its projects at crucial times or for complex rules and regulations. This would probably never be cost effective if done in-house.
Takes Away Hassles of Sub-Contracting:
There might be peaks and valleys in the monthly, quarterly, and annual F&A cycles. Outsourcing can help firms to make minimum cost commitments for such staff. Aristotle Consultancy will perform resource management planning and ensure the delivery of lower per-unit resource cost. Scalability will be accounted for in the project scope.
Our payroll services are designed for the requirements of start-ups, SME’s and MNC’s spread across PAN India. Our services include all aspects of the employee cycle, as well as all aspects of taxation and compliance. Having dedicated payroll team we have processed multiple employee cycles for our clients.