PayWheel- a comprehensive payroll solutions is a workmate for new businesses and startups that keeps them compliant with the Indian Payroll System by adhering to all norms and policies. Many times it happens that new businesses and startups get trapped into the complexities of payroll processing and statutory compliances. As a result, they often land up compensating the employees wrongly (i.e. either they overpay and bear unwanted losses, or they underpay and make their employees feel dissatisfied).
Payroll is an outcome of state and federal laws that must be followed so as to compensate the employees and deduce tax payable as per the slabs decided by government on the salary groups. Being inexperienced in dealing with payroll, new businesses often fail to meet the legal standards. This is where automated payroll processing software like PayWheel can help greatly.
When a new business partners with PayWheel, this all-inclusive payroll software enables the business to-
- assign the number of employees,
- their salary details and statutory components,
- integrates with the biometric systems to record time and attendance,
- prepares bank advices and
- generates system-generated pay slips.
Apart from this broader classification, there are many other smaller details that this payroll solutions takes care of. They may be-
- claims and reimbursement requests,
- loan and advance forms,
- attendance conflict management,
- Employee self-service (ESS) and more.
These many benefits aid the new businesses to set their HR and accounts department for focusing on structuring HR policies, recruitment and team building affairs. Moreover, outsourcing for payroll solutions helps the businesses or companies to fulfill all the bylaws of payroll industry, thus saving penalties in audits and elsewhere.
With only one time investment that is absolutely economical, you can have either have an in-house payroll solution for your new business or can take your payroll processing over the cloud too, which ever suits your business requirements better. In PayWheel, you pay only for the employees who are currently associated with you (and no other costs are incurred). Partnership with an expert payroll solution provider i.e. PayWheel, will help you manage all compliance and payroll issues effortlessly, thereby saving lots of valuable time and money.
Request a free demo and a competitive quote on PayWheel now. Or call us for more details to get the best advice on automated payroll processing from the specialists.