Trends In Payroll Processing That Will Change An Organizations’ Working Pattern

One of famous questions that often arises among working class is “What is Payroll?”. Payroll is a very important task of any business and insists an understanding of current regulations, detailed tax knowledge to ensure proper withholding and filing, and a highly organized system that can be relied upon to pay each employee the right amount of money. From a humble ledger book accounts; cash salary payments to e-transfers and auto-debits, the payroll system has come a long way....

Read more...

Need and Importance Of Statutory Compliance

At the cusp of industry 4.0, businesses are often at the crossroads of digitization, change management and automation initiatives. Enterprises of all sizes are expanding their business territory thereby creating challenging supply chain networks. Along with this growth, statutory compliance and regulations are increasing exponentially. These days, enterprises hold collective responsibility for their vendors, suppliers, customers and partners. Therefore, there is an impending need for monitoring the statutory compliance services.What is Statutory Compliance? Statutory compliance simply means the...

Read more...

What is staffing and the Facts about Staffing Solutions You Should Know

Staffing comprises of choosing the appropriate person for the appropriate job, training, and on-boarding while offering appropriate remuneration, performance appraisals, promotions, and transfer to employees.If you’re contemplating to outsource sourcing and recruitment activity to any of the Staffing Services providers in India then it’s wiser to lean about the facts pertaining to staffing solutions. Temp Staffing agencies have had a bad name in the industry but not all staffing providers are the same. There are some really efficient...

Read more...

Payroll and its components

An inevitable aspect of HR, which often gets overlooked, or worse, tossed over is the payroll. Perhaps one of the most important details that fall under the job of an HR professional and/or their employee is the payroll, but unfortunately, there is a lot of blank gaps with respect to how the salary structures and what not should be drafted.Payroll outsourcing in India is one of the HR processes and is being outsourced since 1997. Payroll outsourcing involves an...

Read more...

Across the Globe, Future of Employee Payroll in Cryptocurrencies

Evolution of CryptocurrencyHandling of money, often one of the most anxiety inducing jobs, has taken an even larger toll since the introduction of crypto currency. It has led to sleepless nights and aimless days of calculating and processing the sudden gain and abrupt loss of this exciting concept of virtual money. Someone would call the whole occurrence as a product of over indulging in online gambles, but it is far more than that.Bitcoin by itself became large and...

Read more...

How A Payroll Systems Works

When we consider systems, we always think of an application – offline or online. But, that is a narrow way of looking at things. Many systems, such as production systems, train systems etc incorporate a much broader set of activities and structures. In the case of a Payroll System, we are essentially looking at how the activities related to payroll are handled by a computer application. To understand this well, let us move back a bit to understand what payroll...

Read more...

Why Is Third-Party Compliance Management Important Especially For SMEs?

The Need for ComplianceThe other day I met a Company Secretary who was desperate to delink himself from his current employer and look for a ‘better’ employer. His grouch? In spite of his sincere efforts, his current employer was non-compliant on some counts. The Company Secretary feared that his reputation and employability will be destroyed.In a recent meeting with Chartered Accountants, the PM literally warned them that they would be held responsible for transgressions of the accounts they manage....

Read more...

Where is HRMS Going in 2017?

The world is changing rapidly. Companies such as Uber is changing the way business is conducted. The latest is Uberisation, a process by which companies have a mixture of employees and external experts or professionals who are hired as consultants. This model is very attractive to companies as the transactional costs are low. Talent is hired based on demand-supply. Intense competition has forced companies to be agile. I yet remember HLC moving an entire team from one country to...

Read more...

The Influence of Compliance Management for Business Success

India is changing today. The government is introducing GST to ease taxation hassles and make it easy for individuals and business to remit their taxes through a single online portal. Even income tax is being made simpler for e-filing and similar steps.One of the major advantages we foresee is a lesser intrusion from governmental agencies as long as they see that you are compliant on all areas. As far as tax goes, your being compliant will be verified...

Read more...

How Crucial is Compliance for Startups

India is the base to the world’s third largest startups in terms of numbers. About 3 to 4 startups are born every day. Startups are built on the vision of the owner or owners. You have an experience in life. Think of a solution, an idea, and a startup is born. Many startups are extremely successful. It seems to be a well-accepted fact that startups can bring a new technology or idea to the market faster. They work with...

Read more...