PAYROLL MANAGEMENT :
Full and Final Settlement:
- Maintain & update the master data of the employees containing personal and salary details.
- Monthly payroll processing
- compute arrears of salaries as and when paid
- calculate the value of perquisites as per the provisions of Income Tax act,1961
- Capture the declared investments; compute the tax on monthly basis.
- Provide various MIS reports as per clients requirement
- Calculate the value of perquisites on account of concessional loans, vehicles and housing loans.
- Process the payroll & provide various reports.
Transerve will prepare the full and final settlement of the persons leaving the organization.
Monthly reconciliation of balances in accounting software with figures in payroll system, for following accounts:
- Salary payable
- Advance given salary staff loans given
- Advance given-Expenses
- Statutory payments-TDS/PF/ESIS/PT/LWF
- All personnel related ledger accounts
Income Tax Deduction & Issue Form 16 at the end of the year. Prepare the Form 27A on quarterly basis(e-TDS) and submit to NSDL. Labour Laws Compliance Management under various acts as under:
- The Employees' Provident Fund Act, 1952
- The Employees' State Insurance Act, 1948
- The Profession Tax Act,1975
- The Minimum Wages Act,1948
- The Maharashtra Labour Welfare Fund Act, 1953
- The Bombay Shops & Establishments Act, 1948
- The Payment of Bonus Act, 1965
- The Payment of Wages Act, 1936
- The Equal Remuneration Act, 1976 and other allied Labour laws
All CTC related reimbursements, tracking of entitlements, eligibility & payment