Payroll Services – Semantic Taxgen Pvt Ltd

Payroll Services

Payroll Services

Step 1

We conduct a thorough search of the TM directory

Step 2

Advice on the classes you need to apply under

Step 3

You will receive updates until registration

About Payroll Services

Payroll is arguably the largest expense for businesses, and running it can be a daunting task. The process can be time-consuming, and errors can result in both unhappy employees and fines. To ease the burden, many small businesses are turning to online payroll services. These services handle all of a business’s payroll processing and related tax filings and payments.

With so many to choose from in 2020, finding the service that suits your needs can be tough, so we researched more than 70 of the top payroll companies to help you find the best fit for your business. Our recommendations are below, as well as a comprehensive list of other top payroll companies in case our picks don’t work for you. If you are interested in learning more about payroll services, you can check out our guide to choosing a payroll service.

  • Processing of salary as per the inputs received from client like Attendance, New Joinees, Resignee, Salary Increment, Incentive, Advance, Loan etc. thru our own developed in-house payroll software.
  • Managing Attendance record, Leave record, Pay registers etc.
  • Calculation of Arrear Salary.
  • Calculation of Leave Encashment, Overtime, Bonus, Gratuity etc.
  • Preparation of salary registers Department wise, location wise and cost centre wise etc. as per clients´™ requirement.
  • Providing monthly salary slips, Tax Projection sheet & Reimbursement slip to the individual employees through e-mail.
  • Reimbursement Management.
  • Providing of Bank Statement file module for salary Transfer as per the Bank´s format.
  • Generating monthly salary reports in Excel and PDF file format like Pay register, Pay Slip, Loan statement, Tax Projection, Reimbursement Slip. YTD, Summary sheet etc.
  • Providing of Statutory dues statement like PF Challan thru ECR, ESI challan, Professional Tax, TDS & LWF amount for deposit.
  • Preparation of Full n Final settlement of left employees.
  • Preparation Salary MIS reports.
  • Handling queries of the employees related to their salary, reimbursement, Tax related issues etc.
  • Assist in interim Payroll audit.

BENEFICIAL FOR STARTUPS AND MULTINATIONALS

Payroll processing is an integral part of the corporate world. Whether you are a startup venture or a multinational, effective payroll process is the need of every organization. We have a highly qualified and professional team to assist you at every step. We help you in – reimbursement management, arrear calculation, preparing final settlement of employees, preparing salary MIS reports, managing attendance and leave records, calculation of leave encashment, overtime and generating monthly salary reports etc. We also help you with interim payroll audit. If your employees have any queries related to their salaries, reimbursement or taxes they can get in touch with us and our team would render endless support.

PAYROLL PROCESS MANAGEMENT´S FEATURES:

  • Better resource management
  • Quick resolution of resource issues
  • Records employees complete cycle from joining to exit
  • Hassle free management of employee payroll process

PROMISE OF COMMITMENT

When you avail our services you not only get the promise of commitment, but also peace of mind. With an expert handling all payroll processing for your organization, you need not worry.

  • Employee Master Creation
  • Updation for Appointments and Resignations
  • Flexible salary definition
  • Increments/Arrears/OT/F&F settlement/Other Ad-hoc payments
  • Leave Management
  • Reimbursements & Claims Management (both CTC/ Non CTC)
  • Loan & Advance Tracking
  • Salary reconciliation with previous month data
  • Salary Disbursement/ Initiation of Bank Transfers
  • MIS & Reporting
  • Query Management
  • Monthly withholding Tax (TDS) Computation and deposit
  • Preparation and filing of quarterly Withholding Tax (TDS) returns
  • Generation of digitally signed Form 16
  • Computation of Annual Bonus as instructed by the management
  • Gratuity calculation
  • Calculation, deposit and returns of PF/ ESI as required under law
  • Professional Tax
  • Labour Welfare Fund

Every employer must deduct employee share from employee wages, add his equivalent share along with EDLI contribution and administrative charges, and pay to the employee provident fund organisation along with the return immediately post payment of salary. The due date for this is 15th of that particular month in which the salary is being paid.

If the PF deposits are not made in time, then there is additional interest charged along with the due amount. These interest rates vary from 5% p.a. for less than 2 months, to 25% p.a. for more than 6 months. Thus it is important to carry out the compliance in due time to reduce the interest penalty on the deposits.

How Does It Work

Step 1: Obtaining Information

We provide you with the preliminary information form to avail information about your registration with EPFO

Step 2: Documents

We then provide you with the list of documents required for EPFO Compliance and Return filing. You can send us the documents via email or courierWe then provide you with the list of documents required for EPFO Compliance and Return filing. You can send us the documents via email or courier

Step 3: Preparing Formats

We then initiate the preparation of the ECR file which requires information about all your current employees and their salary contributions

Step 4: Uploading Of ECR Formats

We then upload these formats online and provide you with the ECR Challans for further process

Step 5: Payment

We then initiate the contribution payment for the PF accounts which are shown immediately and a confirmation SMS is also sent to you registered number

In order to provide ease of compliance of the labour laws, the ministry of labour and employment has launched a web portal called the “Shram Suvidha”. The portal was launched on Oct 16, 2014. Extending the facility further, the portal has also been enabled to provide EPF and ESI  return filing services.

The major objective is to simplify the business regulations. Also, the use of technology will ensure transparency and accountability. The web portal is also multi-lingual, thus catering to the need of common man all across the country.

This will bring the efforts one step closer to unifying the filing process for the employers. The initiation has been done for the Acts which are applicable at a central level but subsequently the state governments are also to join this unified web portal.

Presently, the following labour laws have been made available on this portal:

  • The Employees’ Provident Funds Act.
  • The Employees’ State Insurance Act. 
  • The Contract Labour (Regulation & Abolition) Act.
  • The Building and Other Construction workers Act.
  • The Inter-State Migrant Workmen Act.

Each establishment will be provided with a unique Labour identification Number(LIN) also called as Shram Pehchan Sankhya which will be used for operating in the portal.

This LIN can be used by the establishments to contribute EPF and ESI amount. It is also to be used to file EPF and ESI return together in the portal.

Other facilities in the portal include:

  • It provides filing of a single harmonized annual return for the employers.
  • It provides online reporting of harmonized inspection report by inspecting officials.

This endeavour will help in reduction of transaction costs for business. It also makes it easy and convenient for the establishments to meet their obligations. This is a step towards a better business environment.

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Phone Support

+91 9654831210

Email Support

info@semantictaxgen.in

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1007, Roots Tower,Laxmi Nagar District Centre,
Near Nirman Vihar Metro,
New Delhi-110092

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