Advantages to Employers
Successful business owners know that it is better to be an expert on the product or service you are selling and let someone else be the expert on other tasks. One such 'other task' is the payroll and salary disbursement.
Outsourcing the administrative task of payroll, is one way you can invest more time into your own business and waste less time worrying about keeping up with the ever changing and complex rules and regulations governing payroll.
Top Reasons to Outsource Salary Disbursement and Payroll Processing
• Salary upload through a single cheque: Give a consolidated cheque of the total salary amount to ICICI Bank and a breakup of the disbursements to the employees in soft and hard copy format.
• Multi-location Salary disbursal possible within ICICI Bank network: With the wide reach of ICICI Bank, salaries of employees located Pan India can be uploaded from a single point upload.
• Taxes: Market research shows that one out of every three employers has been charged for a tax-related payroll error. This equates to billions of rupees in penalties. A payroll service provider keeps you out of such statistics.
• Affordability: Consider how much time is spend managing payroll. This equates to time taken away from revenue-producing activities. At the very least, consider the cost of computer equipment and software as well as the extensive training that is needed to run payroll internally. Outsourcing with the right payroll service provider will save your time and money.
• Profitability: Outsourcing your payroll gives organization the freedom to get back to your business.
• Time: Organizations have better things to do with your time than calculating payroll. Getting salary cheques out on time is not only expected, but also a positive reflection on your company.
• Accuracy: Even with the simplest of payrolls, it's easy to make mistakes. Without current and on-going training in payroll compliance, your company could face stiff penalties and unhappy employees to boot.
• Privacy: It can be embarrassing and detrimental to morale if the wrong eyes fall on the salary cheques. Confidentiality is much easier to maintain when payroll is outsourced, particularly when your employees use direct credit .
• MIS: Payroll companies offer a wide array of standard reports that are informative and easy to read. Keep your records neat and concise with these invaluable reports.
• Flexibility: As business changes, so do payroll needs. Leave the details to an expert and focus on business.
• Professionalism: What better way to show your employees that the company is professional and secure, outsourcing your payroll coupled with all benefits of ICICI Bank savings accounts will enhance the successful image and will make employees happy. After all a happy employee is a productive employee.
Successful business owners know that it is better to be an expert on the product or service you are selling and let someone else be the expert on other tasks. One such 'other task' is the payroll and salary disbursement.
Outsourcing the administrative task of payroll, is one way you can invest more time into your own business and waste less time worrying about keeping up with the ever changing and complex rules and regulations governing payroll.
Top Reasons to Outsource Salary Disbursement and Payroll Processing
• Salary upload through a single cheque: Give a consolidated cheque of the total salary amount to ICICI Bank and a breakup of the disbursements to the employees in soft and hard copy format.
• Multi-location Salary disbursal possible within ICICI Bank network: With the wide reach of ICICI Bank, salaries of employees located Pan India can be uploaded from a single point upload.
• Taxes: Market research shows that one out of every three employers has been charged for a tax-related payroll error. This equates to billions of rupees in penalties. A payroll service provider keeps you out of such statistics.
• Affordability: Consider how much time is spend managing payroll. This equates to time taken away from revenue-producing activities. At the very least, consider the cost of computer equipment and software as well as the extensive training that is needed to run payroll internally. Outsourcing with the right payroll service provider will save your time and money.
• Profitability: Outsourcing your payroll gives organization the freedom to get back to your business.
• Time: Organizations have better things to do with your time than calculating payroll. Getting salary cheques out on time is not only expected, but also a positive reflection on your company.
• Accuracy: Even with the simplest of payrolls, it's easy to make mistakes. Without current and on-going training in payroll compliance, your company could face stiff penalties and unhappy employees to boot.
• Privacy: It can be embarrassing and detrimental to morale if the wrong eyes fall on the salary cheques. Confidentiality is much easier to maintain when payroll is outsourced, particularly when your employees use direct credit .
• MIS: Payroll companies offer a wide array of standard reports that are informative and easy to read. Keep your records neat and concise with these invaluable reports.
• Flexibility: As business changes, so do payroll needs. Leave the details to an expert and focus on business.
• Professionalism: What better way to show your employees that the company is professional and secure, outsourcing your payroll coupled with all benefits of ICICI Bank savings accounts will enhance the successful image and will make employees happy. After all a happy employee is a productive employee.