Employment Taxes - Circasys

Employment
Taxes

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Employee Costs form a major expenditure for any organization. The payroll function requires a thorough understanding of certain laws like ESIC, PF,PT in addition to tax laws and is crucial to any organization and requires accuracy & reliability.

The payroll function comprises of two parts handling numerical data in alignment with the various applicable laws.

Payroll services include a complete array of services such as – designing the most tax effective salary structure for the employees, monthly salary calculations, TDS calculations, reconciliations, issuing payslips, other compliances etc. Thus, for any person taking care of a payroll function in an organization it becomes necessary to be aware of the various applicable laws.

Why Outsource?

Outsourcing the payroll function enables organizations to get access of professional & expert payroll processing services.
Business Owners need not worry of the amendments to the relevant regulatory tax laws which change quite often.
Outsourcing of payroll processing function enables organizations to streamline their business operations while business owners focus & concentrate on their business needs.
Outsourcing of the payroll function is cost effective & helps organization reduce overhead costs. Implementing an in-house payroll function and be pretty challenging & expensive considering the infrastructure expenses & the cost of missed compliances and errors.
Outsourcings firms use the latest technology, appropriate tools and software for payroll processing, computation of taxes and generation of reports/pay slips. This increases the accuracy of information generated and also reduces the probability of error.

Understanding the intricacies involved in this function, we at Circa Consulting provide comprehensive payroll solutions. We assist companies in managing end to end payroll requirements, generating related reports, managing applicable taxes, managing leave & attendance etc. We also prepare and file the requisite returns with the tax authorities. The payroll function is a complex and we our efforts are focused and concentrated on providing timely and reliable solutions to organizations.

Regardless of the size of the client, the industry and sector it belongs to, the complexities of it’s business, we customize and tailor our services in line with customer requirements. Our team of professionals is highly experienced and offer transparency and accuracy to our payroll processing engagements.

We also advise on CTC restructuring, expat taxation etc. Apart from this, we also prepare and review employment contracts as per client requirements.

How can we help?

Review existing employee compensation structures and policies to evaluate accurateness and any costs which maybe a potential litigation point. Suggest tax efficient compensation items
Review tax computations for accuracy of deductions and compliance to laws;
Review documents in connection with claims for accuracy and adequacy
Suggest ideal payroll policies and procedures which may be implemented at an organizational level.