Payroll outsourcing is a business practice that involves contracting with a business service to handle all functions related to a company payroll. Hiring an external firm makes it possible to manage the payroll process without the need to maintain a large payroll department including purchasing and maintaining appropriate software packages. Additionally, Companies who use payroll outsourcing services have less paperwork to do and need to just spend a couple of hours on finance every year. Payroll outsourcing service providers manage such diverse functions as the calculation of wages and salary, withholding of taxes, the distribution of withheld funds to the proper government agencies, and the direct deposit of net pay into the bank accounts of employees. These comprehensive reports may not be possible with your in-house payroll software or may take a long time for your IT staff to figure out or develop. Below is the 6 Benefits of Payroll outsourcing [Info-graphics]
Topsource offers hassle free, one stop shop service for outsourcing your payroll and Human Resource administration in India.
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