Managing multiple payroll functions manually is tedious, time-consuming and can make room for errors. Not anymore! Streamlining your payroll services with ClearTax makes it easier to manage and track monthly payslips, TDS and Professional Tax returns for all employees. We will also provide free Form 16 at the end of the year. This plan is suitable for small businesses in service or trading with less than 10 employees.
The payroll management process, in a nutshell, refers to the process of administration of a company’s employee’s financial records. This would include details of the employee’s salaries, incentives, bonuses, deductions, and net pay. An employer must maintain and keep these records as dictated by the law. Not complying with the Income Tax laws pertaining to employee records can be grounds for legal consequences.
Should be able to generate automatic payrolls Should help in creating accurate and fast Invoices and quotes Should be useful in filing Tax forms Must contain basic tax reporting tools Must contain tools for Vendor and contractor payments Should be easy to integrate with other in-house software Should make compliance easier