Managing payroll is a crucial part of any business. Getting it right is extremely important, as it showcases your commitment towards your employees. But that’s not the only reason why you must get it right. A poorly managed payroll can result in non-compliance with statutory requirements and can end up damaging the reputation of your organisation. Alp Consulting offered fully managed payroll solutions and ease the burden on the organization.
What is Fully Managed Payroll?
A Fully managed payroll refers to the complete assistance provided by a third-party vendor with respect to services surrounding payroll processing and payroll management. Alp Consulting offers top notch fully managed payroll solutions where we take responsibility for the entire payroll process from start to the end.
What we provide in a Managed Payroll Solution?
As one of the best fully managed payroll providers in the country, Alp Consulting offers tailored payroll services to clients that suits their business needs. The benefits of our fully managed payroll solutions are:
Expertise, experience, and focus
As an expert payroll service provider, we have the experience and expertise to ensure that your payroll is properly managed, and the process is streamlined.
Efficiency, accuracy, and timeliness
Our Managed payroll services ensure both timely and accurate payments. And through our standardization process, you gain high payroll efficiency with our services.
Technology and automation
Since we incorporate advanced payroll technology, we have the option to leverage payroll automation at a larger scale than a non-payroll company would do.
Scalability
With our managed payroll solutions, you can scale your operations easily. As the business grows, we offer you the option to quickly change the service agreement with us that try to fire and hire qualified payroll staff to grow the in-house team.
Risk mitigation and compliance
Since we are experts at payroll processing and management, we ensure that all risks associated with payroll is eliminated and enhance payroll compliance.
Cost and time savings
With our fully managed payroll services you will get increased ROI and productivity because it is more cost-effective than running and managing payroll in-house and frees up time and resources that your internal team can use for value-adding strategic initiatives.
Externalized accountability
As your managed payroll service provider, we take full contractual accountability for the services we offer. This gives businesses peace of mind, time and space to focus on other core activities.
Payroll security
We operate with advanced technology to enhance payroll security and keep sensitive employee data safe.
What are the Steps in a Managed Payroll Solution?
Every external payroll service provider has their own unique way of going about offering fully managed payroll services depending on their processes, systems, and workflows. However, the underlying process is the same and typically includes the following steps:
- Upon understanding your payroll requirements, the first step we execute is setting up your payroll and integrating it into our internal system
- We then transfer the data needed for payroll from the organization’s internal system to our system
- We then schedule a payroll run partially to check if everything is in place before processing the entire payroll.
- Processing payroll for the client business,
- We Validate payroll results and withhold taxes, social security contributions, and more.
- Our payroll team then moves on to distribute pay checks and issue salary payments to employees through direct deposits or through digital transfers.
- Once the payroll is processed out team takes the responsibility for filing and reporting payroll taxes,
- As your fully managed payroll services provider, we maintain all employee payroll records for future references as well as to ensure compliance with labour laws and regulations.
- Provide ongoing payroll support and advice to the client business.
What we Provide in a Managed Payroll Solution?
As your fully managed payroll services provider we offer a wide range of services that helps the HR and finance teams of your organizations be relieved of certain critical tasks. This typically includes:
- Pay calculation of employees including salaries, bonuses, overtime and payroll processing to ensure timely payroll cycles
- Distribution of pay checks after paying salaries to employees though direct deposit or digital transfers.
- Calculation of all taxes and filing of the same following which there is submission of withheld taxes to relevant authorities.
- Administration of payroll taxes and deductions (including withholding, remitting, and reporting taxes and social security contributions)
- Calculated and administration of deductions like health insurance, garnishments and other voluntary deductions.
- Provision of an employee self service portal where employees can view their payslips, other tax related documents
- Payroll reporting and analytics including cost breakdown, overtime tracking etc. Our customized reporting options offer insights into payroll expenses and tax liabilities and more.
- Payroll compliance advice and support ensuing there are no discrepancies in the payroll processing
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Our Value Proposition
As one of the best fully managed payroll services provider, we offer a range of fully managed payroll solutions to clients that takes care of the entire payroll management of the organization. Here are some of the benefits of choosing our services are-
1
Our deep expertise and knowledge of payroll regulations, ensure accuracy and compliance.
2
You can save time and resources spent on payroll management and allow yourself to focus on core business activities.
3
We help identify and mitigate potential risks, reducing the chances of compliance violations or errors.
4
Scalable solutions that adapt to evolving needs accommodating growth and change without disruptions.
5
A dedicated, expert team, well versed in the payroll field, to take care of your organization’s payroll processing
6
Our user-friendly web interface can effectively tackle your payroll needs
7
Creating a pay structure as per your convenience
8
Advice for remittance on TDS, PT, PF, ESI, obtaining investment declaration, investment proof from employees, verification of investment proof, TDS computation, clarification of doubts of employees on tax deductions.
9
Generation of forms 16 and 24Q as required
10
Payroll processing is done on cloud-based software giving employees access to their payslips, and tax computations.
11
Dedicated managers to assist in uninterrupted fully managed payroll services for your organization.
Whether you’re lacking in functionality or looking to relieve the burdens of internal payroll management, we can help. Alp Consulting has vast experience in providing quality HR and fully managed payroll services to clients for many years. As one of the most experienced fully managed payroll service providers in the industry, we are mindful of our client’s expectations and empower their businesses to navigate the complex world of payroll management with confidence and efficiency.
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Whether you are a startup on a growth trajectory or a large organization struggling to maintain your talent pipeline or a company looking to outsource HR or training functions, we have bespoke solutions for everyone!
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