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Key Benefits of Payroll Compliance

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Payroll Compliance

Payroll is an integral part of all organizations. The payroll department is not only responsible for employees’ salary compensation, but it also plays a vital role in protecting the company’s reputation by ensuring compliance with various legislations.

When we talk about regulations and laws made by the government, our thoughts are directed towards the Indian Labor Laws and Acts. Previously laborers had to face severe discriminations like no right to work choice, unfair and inhuman working conditions, no job security, unfair wages, elongated work hours (OT) with meager wages, child labor and no redressal of their grievances. Thus the government had come up with numerous labor laws to safeguard laborers from those discriminations. One such revolutionary law is fair practice of payroll, where laborers are given fair minimum wages under Minimum Wages Act of 1948. Continue reading “Key Benefits of Payroll Compliance”

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Need for a Statutory Compliance and Payroll Management Services

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The advent of globalization has essentially opened up a lot of opportunities for businesses to expand their horizon. At the same time, regulations have undergone a sea change to keep up with the new challenges. Companies now have to be compliant to the legal laws and regulations in regards to how they manage the business, their employees, and their treatment towards their consumers. The concept of compliance is to make sure that corporations act responsibly and operate within the legal framework.

A lot of the company’s effort and money goes into ensuring compliance to these laws which could deal with a range of issues; from the payment of minimum wages to maternity benefits or professional taxes. Continue reading “Need for a Statutory Compliance and Payroll Management Services”

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Payroll Trends In India

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Traditionally businesses, especially smaller ones, carry out their payroll process in-house and manually. A manual payroll system typically requires a great deal of paperwork and time consuming. A manual process also creates an administrative burden for your HR staff.

Errors in data entry, can create payment issues. This can be resolved by using an integrated software, which can be far more cost-effective than hiring additional staff to handle a growing manual process. Continue reading “Payroll Trends In India”

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