What is a payroll?
A payroll is a list of employees working in a company that get paid at the end of the month or after a fixed period of time.
In other words, a payroll is the money owed by employees from their employer.
Why is payroll important?
A company functions due to its employees which work for a salary.
Payroll is their reward for work without which an employee may not have any motivation to work for the company.
It is hence essential that their salary is given to them on time. This is where payroll comes into picture.
Why is it important to have payroll services handled by professionals?
Payroll management is a complicated process.
Calculating the salary of a single employee involves a lot of variables like gross salary, incentives, concessions, deductions, taxes and calculation of salary to be deducted for absence, uninformed leaves etc.
This is accompanied with legal compliances and additions or deductions such as EPF, TDS, ESI etc. that must be made according to current laws of taxation.
This definitely is a lot of work and there are high chances for errors if payroll is computed by an inexperienced or novice staff.
Mistakes made in calculation of payroll and non adherence to statutory laws can lead to levy of fines. This can also threaten the integrity of the Business if Tax officers get notified of the errors, calling for unwanted audits or the Business being terminated.
Payroll outsourcing company has many unique advantages as mentioned below
S3 FACILITY SOLUTIONS help in managing employee payrolls of my company?
S3 FACILITY SOLUTIONS has a professional and seasoned team of accountants and legal advisers who look into these matters everyday.
S3 FACILITY SOLUTIONS is also equipped with the latest cloud based accounts and payroll management softwares that are reputed to deliver the most accurate payroll services to its users.
Payroll management is easy with S3 FACILITY SOLUTIONS!
How its Works
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We offer services ranging from accounting services to level expertise or accounting systems integration for small to mid-size firms. Let us manage your account payables through forecasting so you can focus on growing your business.
Our team of professionals possess extensive knowledge of industry best practices and performance measures that you can leverage to move your business forward.
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