FAQs
1. Why business houses outsource their payroll?
Businesses outsource their payroll management as it helps save time and effort. Payroll outsourcing also reduces the necessity of having a trained team in-house. Companies also get the services of professionals who have ample experience and expertise in payroll management.
2. How much will the payroll process outsourcing cost?
There are many factors that will determine the cost of payroll outsourcing. We recommend you call or visit us for a consultation. Based on your requirements and employee count, we will give you a quote for payroll outsourcing.
3. Is there any limit to the number of employees on the payroll?
No, there is no limit to the number of employees on the payroll. We work with organisations of all sizes.
4. Where can I get more information on how to use payroll outsourcing services?
Call us at +91 96111 89911 (IN) for more information about our payroll outsourcing services in Bangalore.
5. Will the payroll outsourcing services include payslip generation?
Yes, we also offer payslip generation services as a part of our payroll outsourcing services.
6. Is outsourcing payroll a good idea?
Yes, payroll outsourcing is a good idea considering the benefits of time-saving, expertise, results accuracy, peace of mind, and swift documentation processes.
7. Is it more productive to outsource payroll?
Yes, it is more productive to outsource payroll since external payroll solutions are much more precise and quick, and also leaves sufficient time to concentrate on other important tasks.
8. How outsourcing payroll helps small business?
Many small companies outsource payroll to streamline the entire process in a jiffy. The right accuracy level is achieved as the payroll service providers can help mitigate complications from dealing with local taxes, overtime hours and other variables.
9. How much should I pay for payroll services?
Depending on the payroll service companies, the cost structure for payroll services varies. With SetMyCompany, you can save up to 50% of the costs involved in payroll processing and related tasks. We recommend you call or visit us for a consultation.
10. What are payroll outsourcing services?
Payroll outsourcing is the process in which an organization outsources another to take care of its payroll management needs. The following are the payroll outsourcing services:
- Calculating salaries
- Calculating tax on salary and withholding tax amount from salary to tax payment
- Making employee pay after calculating deductions and incentives
- Finding all essential government reports
- Managing employee benefits
11. How does outsourcing payroll work?
A payroll outsourcing company needs necessary information about your employees (hire date, job title and salary) to set up effective payroll management. The following steps are carried out generally by the payroll outsourcing companies:
- Gather company documents such as GST, TIN, Private Limited Company registration certificate
- Classify the employees – full-time, part-time, freelance, consultants or interns
- Set up a payment schedule. The schedule can be weekly, fortnightly, monthly, or quarterly
- Compensation regulations
12. Is outsourcing payroll cost-effective?
Yes. Outsourcing payroll is cost-effective as it the easy way to save time and money in the long run. You can hire a payroll service provider instead of calculating employee pay by hand or using spreadsheets.
