For any newly founded company, managing employee payroll can be a big challenge. This becomes more pronounced when the founders and senior leadership teams are new to the country and are unfamiliar with the prevalent laws, customs and practices related to wages, and approved systems.
When the focus of organisations has to be maintained at building the business and delivering growth, payroll management can prove to be an inefficient function to have in-house. Even if the necessary resources are internally available, maintenance of confidentiality is always a challenge.
Outsourcing of the payroll function not only addresses all these issues but can also accomplish the task at a cost much lower than setting up a payroll department in-house. At the same time, this ensures that local knowledge of laws, customs and practices that the service provider brings, works in the best of your interests.
We provide professional and timely payroll services, maintaining complete confidentiality, accuracy and detailed reporting. The entire payroll cycle including preparation of monthly earnings, deductions, gratuity, pension funds, pay-slips, loading online instructions (on a bank’s website), delivery of pay-slips to the employees/company representative, and reporting are professionally managed. PKF uses a Cloud based HR and payroll software which provides access to HR and payroll data of employees and HR personnel of the client.
MS Excel based reports can be generated for payroll, and these can be integrated/imported into the accounting records of the company.