Outsource payroll to Legit Filings and focus on growing your business. We’ll keep your business compliant with payroll laws.
In Indian payroll, there are certain compliances set by the central and state legislation. The common statutory requirements that apply to Indian businesses include computation of salary as per income tax act, computation of director’s salary as per company act, provision of TDS deduction, contribution to social security schemes such as PF, ESI, etc. While computing salary an organization needs to consider all these deductions and contributions. Income tax is one such deduction. At the beginning of the year, the employee is asked to make a declaration about his additional income, tax-saving investments, etc. called as ‘income tax declaration.’ Accordingly, the employee’s tax liability is calculated, and TDS is deducted.
- Collection of attendance sheet on monthly basis from Delhi & NCR Branches.
- Computation of salary of all employees as per the Income Tax Act.
- Deduction of TDS (if applicable) from the salary of every employee and deposit the same.
- Filing of TDS return of Salary on due basis
- Give From 16 with Part B (Annexure to Form 16) to every employee in the month of June.
- Compute and prepare Contribution to PF and ESI sheet of every employee as per the Act and deposit the same.
- Filing of PF and ESI Return on due basis.
- Prepare a salary sheet on a monthly basis.
- Provide salary slips to every employee on a monthly basis.
- Ask for investment declaration and provide them the declaration form to submit with details and collect the concerned documents for the same from every employee for deduction under Chapter VIA of Income Tax Act. (e.g. LIC Premium receipt, Housing Loan EMI sheet, Medical Insurance policy receipt, etc.)
- Draft the leave policy according to the organization requirement.
- Provide salary-related technical support to employees.
Payroll Management Packages
We also provide ITR facility to all the employees at the financial year-end and give them the ITR Acknowledgement with the computation sheet. (Extra charges applicable ₹ 299/- per ITR)