Align with the Experts in Payroll Process Outsourcing

Size: px

Start display at page:

Download "Align with the Experts in Payroll Process Outsourcing"

Ezra McLaughlin
6 years ago
Views:

1 Human Resource. Payroll. Benefits. Align with the Experts in Payroll Process Outsourcing

2 Confidentiality. Confidence. Cost Effectiveness. Why Payroll Outsourcing works Payroll is one of the most vital activities for a company. An employee's salary is his single largest connect to an organisation and at the foundation of employee motivation/success. Payroll information is critical and highly sensitive. Any seasoned HR or admin person knows that it can make or break an employee's relation with his employer. Given this scenario and the time & effort needed to maintain payroll administration & data security, many companies worldwide outsource payroll to experts. Outsourcing of HR administration and payroll in the Asia Pacific region is estimated to be one of the fastest growing markets, touching at least USD 4.6 billion by the year In India too, more and more companies are realising that payroll information is sacrosanct and needs a 24X7 dedicated resource to maintain the standards of confidentiality & service, while delivering on employee expectations and cost effectiveness. 1

3 The Experts in Payroll outsourcing ACCOSPHERE TM is one of the leading providers of business outsourcing solutions. Leveraging over 3 years of experience, ACCOSPHERE TM offers a wide range of human resource, payroll, tax and benefits administration solutions from a single source. ACCOSPHERE TM s easy-to-use solutions for employers provide superior value to companies of all types and sizes. Global standards in Data Privacy & confidentiality: Our various software vendors are ISO certified for data security and confidentiality. Our software vendors are SAS 70 Type II compliant - an internationally recognized auditing standard, awarded only when a company follows the most rigorous standards for controls and safeguards when hosting or processing data. The standard covers nine specific areas, including network monitoring, customer service, data backup, change management, deployment and physical security. Global presence We service our clients across geographies with a team of over 50 associates, and growing. ACCOSPHERE TM can be part of any client's expansion plans, offering uninterrupted service. Expertise The pioneer in the outsourcing field, ACCOSPHERE TM packs 3 years of learning into its service offering. We work with clients from manufacturing to IT, giving us in-depth and industry specific knowledge of operations & statutory requirements. Robust, scalable processes Our experience has led us to hone our processes to suit companies, markets, industries and changing corporate scenarios. ACCOSPHERE TM can easily service small/ medium to multinational clients. 2

4 3

5 Lower costs, higher motivation, maximum confidentiality The undisputed advantages of working with the experts Cost effectiveness By outsourcing to a seasoned payroll processor like ACCOSPHERE TM, the first and most obvious benefit is the reduction in your overhead costs. No administration overheads Payroll is a specialized activity. To process it in house requires dedicated resources & time. By outsourcing, you save on costs and man power. No separate team Given the nature of payroll, a company has to constantly keep a resource to manage queries, handle statutory requirements and do all the minute of payroll processing. Outsourcing to ACCOSPHERE TM negates this need. Enhancing HR delivery & organisational responsiveness Employee experience Payroll information and process experience is the single, largest cause of employee attrition & dissatisfaction. This is where ACCOSPHERE TM makes the biggest impact in your organisation. By streamlining the payroll process and offering user friendly interfaces like the ESS, Leave Management System and query management, AccosphereTM enhances the quality of HR delivery to each and every employee. Thus enriching the employee's experience and keeping morale high. Confidentiality State of the art security: One of the biggest benefits offered by ACCOSPHERE TM is the levels of confidentiality and security for payroll information. Our infrastructure, processes and quality control ensure that the information is secure and released only to the right people at the right time. Confidentiality that is hard to maintain within the four walls of an organization. Business continuity Only a company of ACCOSPHERE TM size and stature offers you business continuity planning. We have a full disaster recovery programme in place, so regardless of circumstances ACCOSPHERE TM offers you uninterrupted service and competitive advantage. Constant Value through expertise A specialist outsourcer like AccosphereTM brings process knowledge and products that keep you ahead of the business curve. ACCOSPHERE TM regularly develops tools like the ESS (Online Employee Self Service Portal), for a superior HR experience. HR/ Finance Talent can focus on core operations Company talent be it in HR or finance need not be tied down to a complex, non-core activity like payroll & payroll query handling. HR and Finance people will be free to focus on core business activities. 4

6 5

One stop, One name Payroll to ESS - ACCOSPHERE TM India's span of offering ACCOSPHERE TM gives you a complete end to end solution, backed by world class service standards and augmented by innovative

7 One stop, One name Payroll to ESS - ACCOSPHERE TM India's span of offering ACCOSPHERE TM gives you a complete end to end solution, backed by world class service standards and augmented by innovative products and add-ons. Outsource Payroll Management Services Computation of monthly salaries including reimbursements: ACCOSPHERE TM processes salary, reimbursements and deductions for employees and gives you the final payslip figure. Computation of withholding taxes: TDS and other statutory deductions are computed while processing monthly pay. Web enabled payslips: ACCOSPHERE TM prepares and uploads payslips which can then be downloaded by employees. Closure of full and final settlement for Leaving employees: ACCOSPHERE TM prepares final settlement statements including tax computation and statutory deduction. We also ensure deactivation of employee accounts. Bank Advice Statement: ACCOSPHERE TM prepares bank advice statements on a monthly basis. Customized MIS reports: These include Monthly and Annual Payroll Reports and Monthly and Annual CTC reports. 6

8 Statutory & Compliance Activities Compensation updates: ACCOSPHERE TM will update on any amendments or changes in the salary components and payroll processing by Indian statutory and taxation laws. Issuance of Form 16: ACCOSPHERE TM takes care of this important activity as part of its service offering. Year-End Investment Proof collection & verification: ACCOSPHERE TM ensures that all requirements for preparation of Form 16 are complete and valid. Provident Fund, ESIC, Professional Tax, Labour Welfare Fund and other deductions as applicable to your particular industry. Query Management Services ACCOSPHERE TM enriches the HR offering by providing responsive query management services. Any query related to payroll, tax computations or reimbursements is handled by ACCOSPHERE TM through /web based query handling services. We also offer helpdesks to handle payroll, PF & ESI related queries. Verification and submission of the filled up Nomination forms, Transfer forms and Withdrawal forms, received from employees to RPFC. Preparation and filing of challans for Provident Fund and Professional Tax purposes Renewal of certificates required under various statues like Shops & Establishment Act Regular Statutory Updates / Industry Reports / Whitepapers Filing of all quarterly/annual returns for the employer with regard to withholding taxes for payroll: ACCOSPHERE TM takes the pressure off internal resources to track and submit returns for various tax purposes. Regulatory and statutory compliances related to payroll: ACCOSPHERE TM services all sectors and can handle the regulatory and statutory compliances for 7

9 8

10 ESS (Online Employee Self Service Portal) ACCOSPHERE TM tie up with GreytHR - the Online Employee Self Service Portal (ESS) and other renouned cloud based Payroll software platforms, provides a comprehensive HR and process solution that enhances user experience while minimizing time & effort. This customized portal offers a single online interface for all payroll and leave related transactions to both employer and employee. ESS - features Employee Every employee gets a Login ID and a password to access their ESS account. The employee can View his / her monthly payroll reports, namely Pay Slip & Tax Computations. These documents can be printed from the same account. Submit Investment Declarations: The ESS has an easy to use Investment Declaration Form so employees can submit the relevant information online. They can also view and edit it at any time. Use the Reimbursement module: employees can submit claims and manage approval through this application. The module also displays the status of all claims including reasons for rejection/remarks on each. Using the same Log in, the employee can View number of days of leave available View types of leave available - casual, paid, sick leave etc. - Apply for leave Check the status of leave application Cancel leave Check the balance of leave to his/her credit HR and admin advantages The Online Leave Management System offers great admin and HR benefits. Clear information Sharing: All details of leave entitlement are available to the employee. There is no ambiguity. Objective process: By applying for leave online, with all details in hand, the employee is assured of the objectivity of the process, again increasing his confidence in the organization and in its methodology. Easy leave administration: For employers, it helps in easier leave management of teams and functions. A single window gives the HR person or team leader all the data points they need. Leave Management module: The online Leave Management System, a part of the ESS (Online Employee Self Service Portal), streamlines the entire leave process, helping both employer and employee manage their leave entitlement better. 9

11 Post queries: the ESS is directly linked to the query management system, ensuring prompt response. Manager For HR manager, the ESS is designed to allow different levels of access for different designations, making it customizable and easy to use/control. Helping HR manage Payroll functions effectively and with one single tool. The HR manager can view the entire payroll reports of the organisation through a single log in. HR manager can use special features like Secure file transfer that facilitates seamless transfer of data and comes with inbuilt audit trail and validations to ensure integrity and confidentiality of data. 10

Advantage YOU Get the ACCOSPHERE TM expertise working for you. Stay ahead of your payroll requirements by joining hands with a expert like ACCOSPHERE TM.

12 Advantage YOU Get the ACCOSPHERE TM expertise working for you. Stay ahead of your payroll requirements by joining hands with a expert like ACCOSPHERE TM. We ensure that you get the cost effectiveness, confidentiality and confidence for all payroll related issues. This helps you and your valuable talent focus on core business issues, so you can meet and exploit all the opportunities of changing scenarios and markets. 11

13 Payroll and Statutory Compliance Management Services Payroll Process Management Computation of monthly salaries including reimbursements Computation of withholding taxes for employees Web enabled pay slips encrypted and password protected Provision of Standardized / Customized Reports including: Control & Variance Reports Variance analysis - Gross to Gross statement Category wise, Location-wise, Cost center-wise reports Joinees / Resignees reports Journal Vouchers CTC & Head count report Consolidated report of earnings and deductions Other reports Loan / Recovery statement Salary disbursement report Bank Advice Statement Closure of full and final settlement for leaving employees including: Investment proofs and computation of tax Preparation of Full and Final Settlements Report Statutory Deductions Deactivate employee in employee personal master Payroll Related Expense Management Collect Reimbursement Bills as per agreed date Validate Proofs for the Bills Submitted Check the Base files Provide detailed Report Dedicated Contact Centre Team , Web Based Support and Helpdesk Employee Self Service Portal User friendly automated portal for employees and admin. Client Internal Employee Branding View / Download Pay Slip View/ Edit/ Download Investment Declaration View / Download Tax Computation Sheet Online Leave Management Module Online Reimbursement Module View / Download other Documents Post Query (direct link to Query Management System) Leave Management System The leave management system, which is part of the ESS offering, helps employees and admin manage leave easily and at one site. Employees can use this module to: View number of days of leave available View types of leave available - casual, paid, sick leave etc Apply for leave Check the status of leave application Cancel leave Check the balance of leave to his/ her credit 12

14 Address: SDS ACCOSPHERE ADVISORS PRIVATE LIMITED Ganesh Chambers, 1 st Floor, Abade Faria Road, Margao - Goa India Helpdesk support@accosphere.com

Advent India YOUR SERVICE PARTNER

Advent India YOUR SERVICE PARTNER About Advent Founded in 2013, we are a premiere India based organization specializing in the provision of human capital resource solutions. We offer services in temporary and contract recruitment, outsourcing,