Payroll plays a crucial role for any organization. Payroll data needs to be handled with a lot of attention & care; any mismanagement here can have serious repercussions. Payroll and other labour compliance may be a tiring procedure for employers/HR. It includes onboarding an employee, employee welfare, regulations and compliance. An updated system is required in handling the procedures that enable smoother employee–employer relations and eliminate non-compliance risks.
Payroll management has several hurdles in the form of higher costs, computational inefficiencies, non-compliance, inaccurate methodologies and safety concerns. We at BCL India provide payroll compliance services which eliminate these limitations with our 35 years of expertise & efficient management and provide error-free payroll processing while delivering the output on time.
As part of our comprehensive payroll services, we offer monthly processing of payrolls to your employees with accuracy. This includes managing attendance, allowances, special payments, one-time payments, and F&F settlements. The deduction, another crucial aspect of payroll processing, remains cumbersome for organizations due to variations based on location, type of employment, and more.
An effective reporting & analytics system in payroll management helps in monitoring the categorical trend of payroll expenses, identifying leakage areas if any, providing cost-cutting measures and helping plan future workforce.
Tax advisory covers the service for both employees and employers. It is aimed at providing clarity on tax structures, filing due dates, tax exemption and deductions and helps the employer and employees to manage their expenses effectively, eliminate tax risks and to get the most out of the tax benefits. We conduct a session on Income tax declaration at the beginning of the financial year followed by the Proof of Investment session towards December/January.
The HR manual and employee handbook act as bye-law to the employees. These documents consist of all the details regarding the treatment to be given to the employees in the organization and help the employees in recognizing the culture of the organization. The HR policies and procedures manual is compiled first and after that, the employee handbook is prepared in conjunction with the prevailing policies and procedures as per the former document.
Payroll companies help to draft and compile the HR Manual and Employee Handbook that communicates company policies, sets expectation and reduces potential liabilities.
A well-furnished HR Manual helps employees by providing a complete understanding of rights and also supports employers with clarity of legal obligations. Customization of the HR Manual is done with the required sections and amendments in the existing handbook.
An employment contract is a contract between the employer and the employee defining the terms and conditions of employment and acts as the sole legal document between them which lays out the rights, duties and obligations of both parties during the employment period. An Employment Agreement is a crucial document in managing employees as it lays down the rights and obligations of both the employer and the employee.
Payroll companies support you in the preparation of any type of employment contract, whether it is for your employees, contracts with freelancers or individual employment contracts for managers, management board members or executives. Our customized agreements include legally mandated requirements such as terms, positions, duties, time, place, compensation, reimbursement, holidays, leaves, termination, disclosures and solicitations.
Computation of taxes and planning relevant deductions play a major part in payroll processing. Tax slabs and rates vary among salary components and require intricate attention to have accurate data. We help in error-free computation and nullify the possibility of penalties.
We provide payroll services that include processing of regular salary, one-time payments, exit payments, new joiner payments and full & final settlements which consume numerous days every month.
Statutory compliance management is based on labour acts passed by the Centre and state authority. BCL India's Advisory service focuses on constantly sensitizing our clients on ever-changing regulatory ecosystem and supporting stakeholders in better planning.
Well curated and standardized document suite of payroll and employee management holds the core of operations in an organization. We take utmost sincerity in preparing and furnishing documents that enhance employee-employer relationships and satisfy statutory regulations.
It is difficult for companies to be updated about the payroll system since it can create a deviation from their core business process. Payroll outsourcing companies have the latest update and they work on these updates so there are no chances of penalties from the Government.
Working on legacy infrastructure increases time consumption, delays disbursal, and enables errors. For a faster and more reliable workflow advanced software and platforms are required. We at BCL India are software agnostic and can use any payroll software that management is comfortable with.
Payroll management requires flexible services at the highest level as the regulations differ among organizations based on the size, nature of business and region the organization is located in. Hence, customized and curated service is mandatory in payroll services.
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