Payroll process refers to the maintenance of employee financial records with respect to their salaries, wages, net pay, tax deductions, incentives and other statutory requirements like PF (Provident Fund) and ESI (Employees' State Insurance).
- Preparation and processing of pay slips with statutory deductions
- Preparation of Form 16 for employees and Deposit TDS and file returns
- Transfer of payments to employees through direct bank transfers
- Compiling year-end tax reports