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Hai friends, Could anybody explain me in details........... what are the advantages and disadvantages of using 1. payroll outsourcing 2. Payroll software 3. Inhouse payroll thanks
Hi, It is all depends on the Strength of the employees in the organisation and nature of organisation regards, Mrugesh
Hi,
There are many payroll software in the market such as Peoplesoft, Visual Pay, Sap etc. Its totally depend on the size of the company -sme, large org. Certain companies which refer in -house payoll adminstration. You can visit www.salary.com for more deatils.
Cheers
Gauri

Payroll

Payrolll is the financial record of employees' salaries, wages, bonuses, net pay, and deductions. Payroll involves the disbursement of funds to company employees and the management of the myriad withholdings related to taxes and retirement plans. Managing payroll can become quite complicated due to the diverse types of employees a company may employ; full-time, part-time, salaried exempt, salaried non-exempt, contractor, etc. This leads many companies to outsource their payroll to external companies. Payroll is one of a series of accounting transactions dealing with the process of paying employees for services rendered, after processing of the various requirements for withholding of money from the employee for payment of payroll taxes, insurance premiums, employee benefits, garnishments and other deductions.

Salary

A salary is a form of periodic payment from an employer to an employee, which is specified in an employment contract. From the point of view of running a business, salary can also be viewed as the cost of acquiring human resources for running operations, and is then termed personnel expense or salary expense. In accounting, salaries are recorded in payroll accounts. Salary means the employee's rate of pay (in accordance with the pay rates) will be salary for all purposes, including superannuation (subject to relevant superannuation scheme rules), overtime, severance and termination payments. Participation in salary sacrifice arrangements or purchase leave options will not affect salary for these purposes.

Payroll Software

Payroll Software is a computer application which automates the payroll processing. It covers several aspects of Payroll Including Employee Master data, Salary structures and heads in an organization, Respective methods for calculation of Salary Heads and Employee salary values. Further it creates the reports such as Paychecks/Payslips, Salary sheets and other required reports towards payroll outputs. To know more detailed description on Payroll software, you can check at Payroll Software India website.

Salary Software

Salary Software is a computer application which automates the Salary processing. It covers several aspects of Salary Including Employee Master data, Salary structures and heads in an organization, Respective methods for calculation of Salary Heads and Employee salary values. Further it creates the reports such as Salary checks/Payslips, Salary sheets and other required reports towards Salary outputs. To know more detailed description on Salary software, you can check at Salary Software India website.

Can anybody let me know from whom we soutsource the payroll....any agency or contact details
Hi,
Payroll softwares are available in the market. In house payroll can be with the help of Software or in excel
Payroll outsourcing sevices are the new trend in Indian market.
Here the service provider takes the repsonsibility of handling end to end payroll , as per the requirement of the client , timely and accurate
If the service provider has his own software and has a web module also, then it relieves a client to a great extent
Its a long term solution
It passes on the economies of scale to the customer
Hope this gives you the required information
Thanks
Ranjana Vaidya

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