Manpower is the important issues for every companies and the maximum time & cost is waste in hiring & firing of employees. So companies required more focus in their core business but they are engage in manpower. Fusion Tech Multi-Services is the leading manpower outsourcing and staffing company in India. We have a experienced recruiter and operation team.
Why should one Outsource Payroll?
There are several benefits of outsourcing your payroll
Reduce Costs
The direct costs of processing payroll can be greatly reduced by working with a payroll provider. As per a new report Tata Steel cut its payroll processing cost by 20% . Cost saved include direct cost of employee working on Payroll, software cost, software AMC etc.
Avoid Penalties
Payroll processing involves legal compliance for TDS, PF, ESIC and P Tax.Incorrect calculations and delayed payments result in interest and penalties.In many instances, this cost immediately justifies outsourcing payroll.
Reliability and Continuity
You do not have to worry about losing the employee that does payroll processing and this is a great challenge faced by organizations in today’s timeof high staff attrition. Outsourcing ensures reliability and continuity.
Free Up Time for Core Activities
Payroll processing is a time-consuming process. Outsourcing payroll can freeup staff time to pursue more important value-added and evenue-generatingactivities.
Leverage Outside Payroll Expertise Most business Accounts /HR Managers don’t have time to keep up withconstantly changing regulations, TDS rates, and legal forms. By utsourcingpayroll, business can take advantage of expertise of utsourcing firm.
Automation of the Payroll Process
Because of outsourcing, the payroll process gets streamlined and to amaximum extent gets automated. The software used for payroll rocessing sends several standard reports to employees, accounts and the HRdepartment, which forms a good basis of control as well.