Dear Seniors,
Most of the organisation in recent trends the Employees pay roll systems are giving to Outsourcing. How far it is safe on part of Employer and Employee ? Please give the detailed notes on this.
Regards,
PBS KUMAR
From India, Kakinada
590Most of the organisation in recent trends the Employees pay roll systems are giving to Outsourcing. How far it is safe on part of Employer and Employee ? Please give the detailed notes on this.
Regards,
PBS KUMAR
From India, Kakinada
Dear Kumar
There are many benefits of outsourcing the payroll to the expert Companies who provides the payroll solution along with statutory compliance. The major benefits are :
For Employers:
1. No need for investment in Payroll software & payroll resource
2. Ensure 100% compliance towards statutory filings since the responsibility & ownership is passed on to the outsourced agency
3. Maintaining confidentiality of the payroll information which is not within the reach of the inhouse resource
4. Coninuity factor - In case the employer has inhouse resource, they are dependent on the resource and have to look for replacement incase of illness or resignation of the employee
5. Managing & monitoring the resource
6. Update on statutory changes are responsibility of the payroll agency hence no need to worry about implementing changes in statutory compliance
7. Get value for money - Accuracy, deadlines etc, are the ownership of payroll vendo
8. Customised reports and analysis as per the requirement of the management
For employees
1. Quality & timely response on clarifications on payroll
2. Educating employees on payroll related matters by the payroll vendor
3. No favouritism since the payroll is outsourced
4. One point contact for employees
All these depends on the arrangement the company will have with the payroll vendor and the service levels of the payroll vendor.
Please do let me know incase you need any more information.
Thanks
From India, Faridabad
There are many benefits of outsourcing the payroll to the expert Companies who provides the payroll solution along with statutory compliance. The major benefits are :
For Employers:
1. No need for investment in Payroll software & payroll resource
2. Ensure 100% compliance towards statutory filings since the responsibility & ownership is passed on to the outsourced agency
3. Maintaining confidentiality of the payroll information which is not within the reach of the inhouse resource
4. Coninuity factor - In case the employer has inhouse resource, they are dependent on the resource and have to look for replacement incase of illness or resignation of the employee
5. Managing & monitoring the resource
6. Update on statutory changes are responsibility of the payroll agency hence no need to worry about implementing changes in statutory compliance
7. Get value for money - Accuracy, deadlines etc, are the ownership of payroll vendo
8. Customised reports and analysis as per the requirement of the management
For employees
1. Quality & timely response on clarifications on payroll
2. Educating employees on payroll related matters by the payroll vendor
3. No favouritism since the payroll is outsourced
4. One point contact for employees
All these depends on the arrangement the company will have with the payroll vendor and the service levels of the payroll vendor.
Please do let me know incase you need any more information.
Thanks
From India, Faridabad
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