Payroll Management
Use our professional services to streamline your payroll operations, such as:
• EPFO & ESIC Compliance and Filing
• TDS Calculation and Filing
• MLWF Registration and Filing
• PTEC & PTRC Registration and Filing
We ensure accurate compliance to all legal standards, saving you time and lowering your chance of fines.
Partner together with us to handle payroll without any hassles and concentrate on expanding your company!
For more details please contact us
Here are some frequently asked questions (FAQs) related to Payroll Management Services:General FAQs
1. Payroll management: what is it?
Managing employee earnings, salaries, deductions, and taxes is known as payroll management. It ensures punctual salary payments and compliance to legal regulations such MLWF, EPFO, ESIC, and professional tax.
2. Describe EPFO and explain its significance.
Employee provident fund (PF) plans are administered by EPFO (Employees' Provident Fund Organization). Both the company and the employee make contributions to the fund, which aids employees in saving for retirement.
3. Describe ESIC.
Employees' State Insurance Corporation, or ESIC, offers maternity, disability, and health benefits. It applies to businesses with ten or more workers who make less than a certain threshold.
4. Professional Tax: What Is It?
State-level taxes on professionals and salaried individuals are known as professional taxes. Employers send it to the state government after deducting it from the salaries of employees.
5. MLWF: What is it?
The Maharashtra Labour Welfare Fund (MLWF) is a legally mandated contribution that aims to advance worker welfare. Businesses operating in Maharashtra and certain other states are required to have it.
6. What Are the Penalties for EPFO/ESIC Non-Compliance?
Fines, interest on late payments, and legal action could follow noncompliance. Meeting deadlines and filing returns on time are crucial.
7. How Frequently Should Contributions to MLWF Be Made?
Two times a year, in June and December, contributions are made.
8. How Do I Get in Touch for Services in Payroll Management?
For help with EPFO, ESIC, Professional Tax, MLWF registration, and return services, get in touch with our payroll professionals by phone, email, or online.
9. How Does the Gratuity Act Impact Payroll and What Is It?
Employees who have worked for at least five years are required by the Gratuity Act to receive a gratuity. It is computed using the worker's years of service and most recent salary.
10. How Are Employee Salaries Affected by TDS?
According to income tax slabs, employers withhold Tax Deducted at Source (TDS) from employee pay and submit the money to the government. To avoid fines, TDS compliance is necessary.
11. How Do Payroll Management Function in Compliance Audits?
Businesses may easily pass compliance audits when payroll management is done properly because it ensures that all statutory deductions, filings, and employee records are in place.
12. How Does Payroll Handle Leave Encashment?
The practice of paying employees for unused leave is known as leave encashment. Payroll processes it as part of the final settlement or in accordance with business policy.
