Simplifying Payroll with Trust and Compliance

Payroll does not only mean ensuring that people receive their payments but also serves the purpose of ensuring compliance, allows employee confidence, and provides leaders with insight on their labor expenditures. Our Payroll Management applies to Monthly Payroll Processing (incl. the treatment of gratuity and leave), Generation of Pay Slips and Reporting, Analysis of Employee Costs, Overtime and End-of-Service Benefit Calculation as well as Annual Year-End Payroll Summaries of Payment. These are how all of these services work, and why they are important.

Key Takeaways:

• Workflow schedules eliminate mistakes and keep leave and gratuity balances up to date.
• Transparency is enhanced by less disagreement through clear payslips and reports which are easy to access.
• Cost analysis that is driven by data enables smarter staffing and budgeting.
• Employers are at less risk due to solid end-of-service calculations and overtime.
• Year-end packs accelerate the speed of audits and ease planning of the workforce.

The Importance of Payroll Management

Payroll is the interface between the finance, HR and compliance functions. When well installed, it provides:

• Compliance: Confirms to the laws, and policies of the labor laws and even the internal GRC policies.
• Correctness: Reduced inaccuracy and trustworthy money.
• Clarity: Employees get access to payslips, current leave and gratuity balances.
• Efficiency: The payroll process is reduced in size with standard workflows.
• Insight: Labor spend breakdown by team, location and project.

It has been revealed by surveys that the companies that have adopted automated approvals and validations decrease their quotient of processing by up to half, the error ratios, and increase staff contentment.

Payroll on a Monthly basis

This is what we specialize in- uniting employee data, time sheets, pay increases and benefits to make one, exact pay run. Leaves and gratuity are calculated and posted every month to maintain the record up to date.

What we work on:

• Freeze windows on master data, promotions and bank information before payroll cutoff.
• Import certified timesheets, overtime and leave; highlight abnormalities.
• Determine wages including bonuses, benefits and deductions fully.
• Instruct to update the gratuity provisions and leave balances every run which will synchronise with your general ledger.
• Conduct quality control, variance analyzing and HR and finance approval.
• Produce secure bank files and maintain full audit trail.

Payslip generation and reporting

Every employee in the company has an interaction point with payroll that is the payslips, thus accuracy, clarity and accessibility must be on their agenda.

Our delivery:

• Accurate payslips have every earnings, deduction, paid leaves and (where the policy permits) the accruing gratuity.
• Secure or user-friendly digital self-service portals or emails.
• Stored in form of archives in case of audits or requests by employees.
• HR and finance reporting: payroll summaries, variance, head count movement and bank files cleared.

Employee Working Cost

With the correct analysis of payroll data, it is possible to make smart decisions.

What we give:

• Breakdown of labor cost by department, location, position, and time to do efficiency benchmarking.
• Trends analysis of the number of overtime to locate the cost drivers and process problems.
• Impact Mapping on absenteeism and elements of wages to total rewards.
• Unit economics: costs of labor per output/store/project, serenading pricing and number of employees.
• Visual dashboards and benchmark alerts assist the leaders to set mistakes quickly.

Calculation of overtime & End-of-Service Benefit

Enjoy overtime and end-of-service benefits (EoSB) right in order to secure your organization and secure trust among workers.

Our approach:

• Automate policy-based overtime calculators--yanking approved timesheets through and applying proper rates and caps.
• EoSB Define eligible earnings, process various termination/resignation situations, and revise accruals every month in your accounts.
• Keep any auditable logs and give clean settlement statements to any leaver.

Payroll Year End Reports

Accuracy in the payroll is at the end of year. We also make annual reports that facilitate ease in audit as well as planning.

What's included:

• Overall income, deductions, the number of people and the division among departments.
• Reconciling and Reconciling Payroll ledgers, leave, and gratuity balances.
• A review of the overtime and allowance in the year.
• Servicing schedules to cover compensation movements, advances of the outstanding and changes of the staff.
• Executive summary with trends and recommendations in a nutshell.

The Way Our Services Interact

One is just a reflection of the other, with monthly payroll feeding payslips and summaries, cost analysis drawing attention to workforce opportunities and clear overtime/ EoSB processes ensuring the provisions stays current. On the one hand they can provide not only compliance, but also a payroll process that enables informed business choices and contented employees.

The process used by us to implement your payroll solution.

We have an incremental deployment process, so we can avoid disrupting the payroll:

1. Discovery: Look into the policies, pay items, and exceptions of the workflow.

2. Data Prep: Cleans your employee files and connects to HR and finance.

3. Configuration: Configure pay, leave and gratuity regulations; approvals, user roles.

4. Test: side by side test and reconciliation to eliminate variances.

5. Training: Induct the onboard HR and managers; direct employees on self-service access.

6. Go-Live & Support: Mentor initial cycles, debug reports and optimize reports.

7. Governance: Reviews, reconciliations and policy updates.

Summary: Secure Payroll, Joyful Teams

When we take care of Payroll Management your business will be precise, transparent and actionable and your employees will be satisfied along with the management. Profitable decisions are formulated through consistent dashboards and reports that help save time and make great decisions; values that we audit your current payroll cycle, standardize data and approvals, and roll out dashboards and reports.

Poised to create a payroll operation people trust?