home case studies payroll management case study 2

In the case of an International shipping company having operations from India and having a staff strength of over 70 employees all over India, we help manage their payroll and do the following:

• Maintain employee master

• Preparation of estimated taxable income of each employee

• Maintenance of attendance and leave record.

• Maintenance of overtime record.

• Preparation of payslips

• Disbursement/credit to bank accounts of employees.

• Preparation of salary certificates in Form 16.

• Computing deductions under Income Tax Act,Provident Fund Act etc.

• Acturial valuation of retirement benefits.

• Provide advice on investment of retirement benefits.

• Submission of and attending to Annual returns as prescribed under the various statutes.

• Month end journal entries to the accounts department.