Payroll Management

Advantages of outsourcing payroll operations to Prosourz

Payroll management covering all aspects

All the aspects and stages of payroll management can be entrusted to Prosourz for faster and smoother process. Prosource can do all the work related to payroll processing, prepare connected taxation forms and prepare all the related reports to the authorities, the management and the employees. They can prepare pay-sheets, make salary statements, upload statutory reports, create liability reports and TDS reports and calculate leave, leave salary, leave accrual and utilisation and all other matters connected with the leave of the employees.

You can enjoy a more secure system

The readymade software that you find suitable for your establishment cannot guarantee privacy and security. If you feel that the details of your employees and their privacy and security are important considerations, you should rather entrust the work of managing your payroll operations to Prosourz as only Prosourz can guarantee the privacy and security of your employees.

You have better accountability

By outsourcing payroll operations to Prosourz you can save time and money spent on managing payroll internally. Calculating the several components of the payroll, determining and deducting tax obligations of the employees to be deducted at source, recovering other items like provident fund subscription and salary advances, preparing cheques and providing reports to management, etc. take up a lot of time of the HR department employees. Prosourz will make it simpler and less costly. Prosourz also provides services like retirement plans and pension payments in addition to salary payments and related work.

Grievances of the employees

The possibility of errors and omissions in calculation of tax can be avoided by outsourcing payroll operations to Prosourz, as they have all the latest rules and regulations connected with payroll and as regulations related to taxation are always changing, your HR section can be relieved of the burden of knowing the latest tax code, learning tax tables, acquainting with prescribed forms or with payroll software versions and filing returns within the deadlines.

You can get savings in taxation

About 40% of small business concerns have to pay penalties for delayed tax filings and tax filings with errors. Prosourz can provide tax guarantees to the employees that any penalties due to incorrect filings will be borne by Prosourz. This factor alone is enough to make outsourcing payroll services profitable to small business establishments.

You can focus more on productive work

Through outsourcing pay-roll operations, a good chunk of the HR staff can be reallocated to other productive and more revenue-generating activities. According to Inc. Magazine, payroll operations is the number one task to be outsourced for the better running of the small business enterprises. Many of the periodical statements related to payroll management can also be outsourced saving time and money for the business establishments.

Error-free consolidated reports

Outsourcing the pay-roll operations to Prosourz will ensure the production of error-free periodical consolidated reports that can be made available to the management and employees for more transparent and democratic atmosphere among the stakeholders, trade unions and authorities.

Speedy resolution of employee issues

Employee issues will be minimised through outsourcing to Prosourz. Even the few issues that crop up will be easily sorted out as the documents and statistics will be flawless and up-to-date at all times.

What you have to provide to Prosourz

If you are maintaining the attendance of your employees, you have to send the following details to Prosourz:

  • Days attended punctually and fully
  • Days attended only part-time (if salary is to be reduced proportionately)
  • Duration of overtime work and holiday duty done
  • Details of incentives, advance increments, etc. sanctioned
  • Details of punishments, pay-cuts, etc. imposed
  • Details of leave days availed, non-availed, surrendered, etc. including LTC
  • Details of ad-hoc or advance payments sanctioned and recovery mode

If Prosourz is maintaining the attendance, the following details will be sufficient for payment of salary:

  • details of incentives
  • advance increments
  • ad-hoc payments sanctioned with recovery modes
  • leave-surrender details
  • punishments or pay-cuts to be effected, etc.
  • No details are required from the client company about attendance.