sumHR as your Payroll Outsourcing Company
sumHR provides affordable Payroll Outsourcing in India. It suits the payroll management needs of businesses across various industries. With our payroll outsourcing, you can be assured of minimum paperwork and maximum result. Payroll Management is a very important process but it's time-consuming as well. We take the burden of Payroll Management off your shoulders, thanks to our Payroll Outsourcing service. Now you can take care of your two most valuable assets of your business i.e. People & Money with relative ease.
We make sure that the payroll records are error-free. We understand that you're always worried about the security of your data. Hence, sumHR maintains the security of the data of the clients with optimum care. Consequently, we maintain a high standard by following efficient procedures to utilize the information as per the legal norms.
We have a deep understanding of payroll management backed by industry experience. Our team consists of numerous industry experts. Therefore we're up to date to the newly launched regulations of labor and Income Tax law.
Payroll Outsourcing services by sumHR:
1. sumHR Software – the core offering
2. Payroll Outsourcing – supported by sumHR verified consultants
3. Statutory Compliance - supported by sumHR verified consultants (PF/ESI/TDS/PT/Labor Laws)
4. Tax Proof – Proof checking, Verification - supported by sumHR verified consultants
One time master setup and monthly payroll processing
The sumHR software only requires a one-time master setup. Because once you set up the software as per your needs, you won't have to set it up again unless you need to make any changes. Besides that, sumHR runs a monthly payroll process as per the clients' requirements.
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In Payroll Outsourcing, the employers hire a third party to handle Payroll Management to save time and other important resources.
Payroll Management isn’t just about paying your employees. No one gets into a business to manage paperwork and keep track of payroll management. Therefore, Payroll Outsourcing helps people focus on the primary objective of their business.
In Payroll Outsourcing the employer hires an external entity who expertise in Payroll Management. Payroll Outsourcing is helpful for employers because it lets them focus on other aspects of the business. Instead of using resources for Payroll Management an employer may use his resources for profit-making.
More or less, refers to the process of managing the financial records of a company’s employees. Payroll Management consists of employees details like salaries, incentives, bonuses, deductions, and net pay. An employer must keep these records as directed by the law. If an employer fails to comply with the Income Tax laws related to employee records, the employer can be subject to legal consequences.
Why should you outsource your monthly payroll processing?
There are distinct advantages to argue for either method of processing the payroll of your employees.
Outsourcing payroll processing:
When you outsource your payroll management, you get to-
1. Concentrate on your core business objective and helps you save time, effort, and resources.
2. Outsourcing to an expert in the industry helps you be on top of the latest statutory changes.
3. Payroll Outsourcing helps you reduce costs and risks.
let’s look at what sumHR can do for you – as a business owner, as an HR Manager/Head, as an Accounts Manager/Head, etc.
How does Payroll Outsourcing work?
A Payroll Outsourcing company gathers and processes your employees' data. The employee data consists of hire date, job title, pay rate. Once the data is processed, the pay due to each employee is calculated. The amount due is then paid off. Either by issuing a cheque or depositing it in the employees' bank account.
What's included in Payroll Outsourcing?
- Running payroll.
- Issuing payroll checks or depositing payroll amount in the bank accounts of the employees.
- Calculating payroll taxes, and making tax payments
- Filing government reports
- Managing employee benefits
- Taking care of social security and pension contributions
Payroll compliance matters whether you're hiring your first employee or your hundredth. Because there's more to payroll than just paying your staff. It is also linked to tax accounting. Therefore if you don't comply with the law, you and your business may face legal consequences.
Payroll compliance is also used as a guideline to calculate. As it is also used to calculate the following:-
- Provident Fund (PF)
- Employee State Insurance (ESI)
- Professional Tax (PT)
A simple case study:
Customer: Bangalore based
Employee Count: 700+
Locations: Across India - Major cities.
Requirement: HR automation + Payroll outsourcing.
Pain Areas: CTC based reimbursements. Dynamic tax calculations based on bonuses and incentives. Tax calculations. Reports.
Earlier Process: Used a payroll software + 3rd party payroll outsourcer.
sumHR Solution: Software + dedicated Payroll Manager.
sumHR Software Usage: Employee Profiles. Leaves. Attendance. Expense Claims. HR Drive. Performance Reviews. HR Analytics. MIS Reports and Streams.
Payroll Manager Activities: Verify input data - Leave & attendance. Process new joiners. Update CTC/salary revisions. Bonuses & incentives. Run payroll. Generate salary register. Provide bank statement. Release payslips. Provide tax reports.
Conclusion: 1 software + payroll processing = Single point of contact. Dedicated account manager and payroll manager. Smooth and effective salary processing month on month.
If you’d like to get a free 7-day trial of sumHR with a demo, call +91 92222 13195 or visit signup.sumhr.com now!
The sumHR services plan is not just for the ‘larger’ customers but for ALL our customers. If you like this post and the services we offer, please leave your comments below and share with your colleagues and friends.
Note: Prices start from Rs.79/- PEPM for basic payroll processing along with software.