What is Payroll processing?

Payroll is a list of employees that are paid by the company. Payroll is the total amount the employers pay to the employees. A payroll function involves the development of an organization pay policy that includes flexible benefits, leave encashment policy.

Payroll management also includes payslip components like basic, variable pay, HRA, and LTA. and also gathering other payroll inputs like the organization's food vendor supply, etc.

Payroll and HR management also involve releasing the employees' salary, depositing the dues like TDS, PF, etc with appropriate authorities, and filing returns.

Put together Payroll processing includes the calculation of the Net Pay after the tax adjustments and other deductions.

Payroll processing and HR management

• Payroll processing and HR management is a highly complex task for most small businesses due to the various compliance requirements in India. 

• Most startups do not even have a well-established HR system and processes leading to a discrepancy in hiring the top talents, retaining good employees, and even while building a productive workplace culture. 

• By outsourcing payroll and HR management to IndiaFilings, an individual can enjoy a stress-free and error-free payroll cycle every month. 

• Also, our HR experts can help in implementing world-class HR processes in the organization from day one to support the growth of the business.