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RNC PAYROLL MANAGEMENT.

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Presentation on theme: "RNC PAYROLL MANAGEMENT."— Presentation transcript:

1 RNC PAYROLL MANAGEMENT

2 PAYROLL OUTSOURCING AT RNC

3 PAYROLL SERVICE Payroll can be one of the most time consuming tasks for an employer. Between entering employee data, keeping it up to date, ongoing processing and reconciling with other systems, there's often little time to get valuable information from payroll that can help you manage your business Its more than just organizing or entering employee data, keeping it up to date, ongoing processing and reconciling with other systems. Vital HR information from payroll can help you manage your business efficiently Covers Statutory & Legal Compliance

4 Gamut of Payroll Services
Assured statutory compliance Scrutiny of reimbursements like medical, LTA, etc Scrutiny of Investments Proofs Automated computation of perquisites taxes & various statutory deductions as framed under the laws of the land. Pay slips through / Hardcopy Accompanied with Detailed Monthly tax calculation & loan balances. Handling multiple pay structures of Branches/Divisions/subsidiary companies & Grade specific payroll requirements

5 Key Features of Payroll Outsourcing
Our services can be customized to user requirement. All Statutory Deductions such as EPF / ESI / MLWF / Gratuity / TDS / PTax are taken care of. If the Payroll of more than one Location is managed pay slips can be defined depending on Location wise. Employees can be referred either with Employee ID/Ticket No/or Reference No. No. of days in the month can be flexibly defined. Each Branch wise working days can be defined. No. of days present and No. of days on which Salary is calculated (Including Paid Leave) both are considered with formulating a field value. Rounding off options & Carrying over of rounding off values to next month. Leave Management – Tight Integration / Loose Integration. OT Rate Calculation – Hourly basis or on Per day basis. Multiple Branch Details in Single File. PF / ESI / PT rate user definable on Monthly basis. Arrears Calculation. Restriction on Record Management Dates – 5 years Data can be Managed. User Definable Salary Heads. Salary Definition on the Basis of Group / Scale. Salary components can be defined as Inputs / Calculated Fields / OT.

6 PAYROLL OUTSOURCING -ADVANTAGE
Cost Effective Helps companies focus on core business activities Leverage the Payroll Expertise of RNC State-of-the-Art technology at no extra cost Less legal adherence & paper work for the client Changes if any in statutory compliances are updated on regular basis by RNC Higher Employee Satisfaction Timely Execution and MIS Generation All Statutory compliances taken care of RNC.

7 RNC STRENGTHS A Specific helpline created for addressing all payroll related queries Customization available as per the client’s requirements Provision of concal services if the client requires the same Adherence to all Statutory compliances Managing Payroll of employees from diverse industries Specific handling of queries of payroll of senior people Confidentiality and Data Security

8 Payroll Deliverables: (Sample Template)
Reports HardCopy SoftCopy Pay slips Salary Registers Bank Payment Reports / File Company Salary Summary - Salary JV (Journal Voucher) Full & Final Settlement Labour Welfare Report Monthly ESIC Summary Monthly EPF Report Montly Profession Tax Challan Report

9 STATUTORY COMPLIANCES
All Statutory Reports as per the requirements of Various regulatory bodies. Income Tax Profession Trades & Callings Act. EPF & M.P Act 1952. ESIC Act 1948. Employee Welfare Scheme (MLWF, etc.)

10 Monthly Payroll Processing
INPUTS FROM CLIENTS Joinees /Resigned Attendance Reimbursement Tax & Loan Monthly processing RNC Payroll & Reimbursement Processing, Update Tax Declarations, Leave records & Master Data Outputs to Client Pay Sheets, Pay Slips, Salary JV, Statutory & other Customized payroll reports

11 REPORT FORMAT

12 PAY SLIP FOR THE XXXXXXXXX
LOGO COMPANY NAME ADDRESS PAY SLIP FOR THE XXXXXXXXX Name XXXXXXXX Site HO Designation Manager - Internal Aduit EPF NO. MH/XXXXX/OO1 D.O.J 10-Apr-09 Credited to A/c. 007 Earnings Deductions Basic 7,740.00 Loss of Days 25 DA 5,160.00 Loss of Amount 20806 House Rent Allowance Provident Fund 300 Conveyance Allowances 2,580.00 ESI Others Allowances PT 200 Gross 25,800.00 Staff Loan 1000 Salary Advance 500 Telephone Recovery Incentive - TDS 600 Total Salary Total Deductions 23,606.00 NET PAYABLE 2,194.00 LOAN BALANCE 19,000.00 Employee Signature PAY SLIP

13 SALARY CONTROL Company Name SALARY ABSTRACT - MONTH‘xxxxxxxxx
SALARY ABSTRACT - MONTH‘xxxxxxxxx Abstract:- Control Rs. As per Previous Month Total Salary Basic Add DA YUUUUUUU Total ABCDEFG Other Allowances:- (+) Deletion: HJHGFJ HRA JKHFGY Conveyance Allowances Others Allowances (-) As per Current Month Increment: Gross Salary Other Earnings:- Incentives Total Salary Total Salary As on Feb'08 Deductions:- LOP Loss of Pay PF ESI PT Staff Loans Salary Advances Telephone Recovery Income tax Total Deuction Net Payable SALARY CONTROL

14 PF MONTHLY STATEMENT STATEMENT OF EPF FOR THE MONTH OF XX'08 Sno.
A/C No. Employees Name D.O.J PF Salary Employees 12% Employer 3.67% Employer 8.33% Total 1 MH/XXXX/01 XXXXXXXX 8-Oct-07 2497 300 92 208 600 2 YYYYYYYY 2-Nov-07 1524 183 56 127 366 3 AAAAAAA 19-Nov-07 5150 618 189 429 1236 4 BBBBBBB 26-Nov-07 4000 480 147 333 960 5 CCCCCCC 10-Dec-07 6 ZZZZZZZZ 24-Dec-07 7 EEEEEEEE 7-Jan-08 6500 780 239 541 1560 8 YUUUUUUU 6-Oct-08 3355 403 123 279 805 9 ABCDEFG 12-Oct-08 2581 310 95 215 620 33607 4034 1235 2798 8067 ABSTRACT:- Employees Strength EPF Salary As per last month As per Paysheet PF Salary As per Paysheet PF Addition As per EPF Statement Deletion As on current month Difference PF MONTHLY STATEMENT

15 Employees Contribution @ 1.75% Employer Contribution @ 4.75%
COMPANY NAME STATEMENT OF ESI FOR THE MONTH OF XX'08 Sno. Ins No. Employees Name D.O.J ESI Gross Salary Employees 1.75% Employer 4.75% Total 1 YYYYYYYY 2-Nov-07 3048 53 145 198 2 BBBBBBB 26-Nov-07 8000 140 380 520 3 CCCCCCC 10-Dec-07 4 ZZZZZZZZ 24-Dec-07 5 YUUUUUUU 6-Oct-08 6710 117 319 436 6 ABCDEFG 12-Oct-08 5161 90 245 335 38919 680 1849 2529 ABSTRACT:- Employees Strength ESI Salary As per last month As per Paysheet ESI Salary As per Paysheet ESI Addition As per ESI Statement Deletion As on current month Difference ESI MONTHLY STATEMENT

16 PF &ESI CHEQUE TO ACCOUNTS
COMPANY NAME PF & ESI – Monthly Summary Reporter Please issue cheques for PF & ESI remittance as stated below PROVIDENT FUND PF Salary 33607 Head of Accounts Employees PF : A/C 12% 4033 Employers PF : A/C 3.67% 1233 Employers PF : A/C 8.33% 2799 Admin Charges A/C No. 1.10% 370 EDLI Charges A/C 0.50% 168 Admin service charges A/C 0.01% 3 Total 8606 ESIC ESI Salary 38919 Employees 1.75% 681 Employers 4.75% 1849 2530 PF &ESI CHEQUE TO ACCOUNTS

17 Service Level Agreement (SLA)
Covers Purpose & Scope of Services Responsibilities of RNC & The Customer. Payment time. Confidentiality Information. Signatories to sign SLA from both the parties. Authorized person for routine Contact & in case of Escalation. Details of various reports & MIS reports to the management on regular basis.

18 Some of our reputed list of clients
M/s. G.C.C Club Pvt. Ltd. M/s. Craft World Pvt.Ltd. M/s. C.S.Tubes Pvt.Ltd. M/s. CRP Control Panels Pvt.Ltd. M/s. Crystal Medicines Pvt.Ltd. M/s. Arya Crafts & Engineering Pvt.Ltd. M/s. Selvel Publicity & Consultants Pvt.Ltd. The Don Bosco High School Norton Property Solutions Pvt. Ltd

19 Contact Us r.n.Consultant RNC Office No. 10, 1st Floor,
Achalgiri, 150 Feet Road, Near Maxus Mall, Padmavati Nagar Bhayandar (West), Dist. Thane – Tel.:- (022) /

20 THANKS


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