Best Payroll Services In India

They simplify many things associated with timely & accurate payment and the compliances behind it, such as:

• Employee time & attendance
• Workers’ compensation
• Employee Taxes and compliances
• Direct deposit information

Payroll services streamline your payroll processing. They reduce the stress on the person in a company responsible for payroll management and also eliminate redundant & risky tasks that manual payroll calculations would cause, which could cost a lot for a smallest mistake done.

When you hire Multi Recruit as your payroll company, we will make life much easy, accurate and fast & show you how to access the services online. It’s often a single-entry point to a website that assists with time & attendance, payment processing, taxes and much more. Employees log in each day to clock in attendance. Our HRMS platform tracks their hours automatically. At the end of the pay period, you can review and confirm the hours worked, loss of pay if any, reimbursements etc. Multi Recruit will calculate the monthly salary, subtracts the necessary taxes, with holdings, and deductions, and pay the employee. Multi Recruit typically pays employees via direct deposit only so everything is accounted for but other options may be available as well, as a one of.

Choosing the best pay frequency for your workers is not as hard than it looks. Ultimately, whichever one your company finally decides on will be based mainly on your firm’s individual needs and how often you want your staff to be paid. Monthly is the usual norm.

There are 5 payroll schedules, each of which has advantages and disadvantages.

• Weekly
• Bi-Weekly
• Semi-Monthly
• Bi-Monthly
• Monthly

• Weekly: Salary is paid every week. This is typically the most expensive payroll frequency for a few reasons. If you are paying employees more frequently often means spending more money, as many payroll services charge you each time you run payroll.
• Bi-Weekly: Employees are paid every two weeks, typically on a Friday. It is the second most expensive payroll schedule for the same payroll processing fee and time loss reasons as weekly pay. Additionally, in some years, a biweekly pay schedule can lead to an extra pay period and thereby employee overpayments. Both hourly & salaried employees are often paid biweekly.
• Semi-monthly/Bi-monthly: This payroll schedule is often confused with biweekly; however, employees are paid twice monthly, typically on the 1st and 15th or the 15th and 30^th. Bimonthly pay frequency is often used for salaried employees, whose wages may be high enough that having their wages split across two fewer pay checks will not drastically affect their financial planning.
• Monthly: Employees are paid at the end of each month. While this is the most preferred payment schedule for workers, since it makes their financial planning more simple, for employers, it’s the least expensive option and will be more accuracy.

A businesses payroll liability would include Govt of India taxes, local taxes, and state taxes, like professional fees which varies in each state of India. The taxes your company is subject to where your business & employees reside (sometimes they are not in the same place). Additionally, each state has insurance tax that payroll providers will fill every quarter on your behalf.

• Reduces in-house payroll costs & Save time.
• Enhanced Security of your data.
• Helps in increasing the productivity & efficiency of employees & company.
• Timely tax audits
• Improved Tax Savings & Avoid Tax Penalties.
• Eliminate Payroll Processing Errors.
• Easy Governance with Govt Policies
• Employee Access / Gaining a Human Resource Information System (HRIS System).
• No Worry / Peace of Mind.

The team at Multi Recruit are very prompt in terms of setting up a new client and having them onboarded for payroll services. A payroll calendar will be drawn up & submitted to the client for approval. This agrees dates in which each client submits their payroll input, receives reports for approval, needs to authorise transactions and when payroll is to be finalised and the  E-Payslips are published. This means that we know when each client will be sending in their payroll and their dedicated payroll specialist will be waiting to assist you.

Our Onboarding process is quite simple. Once we get your employee details and have the organisation set up in our system, our payroll specialist will reach out to you to get your 1st payroll setup, which includes direct deposits of salaries. They will carry your payroll data from the current year (if any). If you are busy, we truly understand. You can simply send us your hours & wages for Payroll via email, and our team will process Payroll on your behalf, or even easier we will give your employees the HRIS employee access where they can maintain their attendance and leaves and the same will be approved by their respective managers.

You would need to draft a letter to your old payroll processing company letting them know you won’t be using their services. But first, make sure you have gotten a good understanding of the payroll processed with the new company before termination. A smooth handover is expected in aspect of data required for the Multi Recruit team to initiate and start the process.

Team Multi Recruit will need all the employee details

Employee Salary details, (current and old if any increments in the past)

Employee personal details like, age, date of birth, bank account details

Employees Data, Like Aadhar Card and PAN card, address proof.

Post the payroll run for the month, Multi Recruit will share the final report with the client and get a confirmation for the pay-outs.

Option one: the Client will make the payouts from the Client bank account to employees.

Option Two: On approval from the client Multi Recruit will initiate the payables via their bank and credit the salaries to the client employees.

You have several options for running the payroll. Do you want to be hands-on and input the hours yourself? Or do you want to call or email us & report hours?

To simplify life, we can even set up attendance module in the software don’t have to think about it at all. Where the employees will record their log in and log out timings.

Our HRMS tool allows you to restrict an employee’s access to wages & salary information. You can assign a supervisor or manager to oversee and only enter the employee’s hours worked per pay period if you don’t want anyone looking at employee addresses and social security numbers, you can prevent them from doing so it can be customised with viewing rights individually.

A monthly payroll repost will be shared with the Client by Multi Recruit, which will have all details of the payments and salaries.

The Govt of India requires employers with non-exempt employees to keep payroll records. It is advised to keep all records handy for various departments like TDS, Professional tax etc.

With our company, what you see is what we charge. We have clear and transparent pricing.

Every client is important and will be given the best service. We will get to know all about your company and payroll requirements. We are always there at the end of a phone to answer any queries you may have.

We’re happy to give you a free estimate. Call or email us today.