Payroll Processing

The strategy to outsourcing is to, firstly identify the core activities which are the essence of the company and turn the management's focus on these, while concurrently transferring the other activities on a recurring basis, to a service provider who specialises in them.

Payroll outsourcing, which involves employing an outside agency to do the routine work of managing salary, its calculation and payment, along with any other related functions, has transformed into an extremely successful industry.

Winjobz today one of the Best Copanies for payroll outsourcing. Some of the reasons for this are:

• Cost savings for the company on outsourcing payroll processing are extremely significant and can go upto 50% at times.
• Cost reductions and cost effectiveness can be achieved.
• Productivity is improved, as service quality provided is excellent and this frees the company from non-income generating tasks.
• Latest technology and software for payroll processing are used.
• Winjobz payroll processing service providers have a very highly specialised and expansive knowledge base in finance and accounting which would be of help to businesses globally.
• These service providers are fluent in English and extremely competent and efficient.
• Where India and the USA are concerned, the time difference is also favourable, thus work completion is faster.

Winjobz provide solutions for Internal Payroll Audit & Compliances, clearly demonstrating consequences of Audit & Non-compliance management. Winjobz continuously endeavor to add value to Corporate Governance and to make corporate free from financial liabilities and foresee all the internal documentation is complete & as per compliances applicable.

The recommendations in an internal audit report must be aimed to improve and/or enhance business processes and should clearly focus on one or more of the four major improvement areas that are concerned with certain specific features of business operations:

• Compliance – Whether the processes ensure adherence to statutory of organizational rules and regulations.
• Control – Whether adequate automated and/or administrative controls are in place to ensure that processes produce the planned or desired results.
• Effectiveness – Whether specific tasks with definite objectives are being carried out as part of a process.
• Efficiency – Whether process tasks are being successfully executed with minimum quanta of various kinds of input resources.

Winjobz ensures that all the relevant Internal Audit for Payroll should be as per legal requirements only.

• To ensure that only valid employees are paid at the correct and authorized rate salaries
• To ensure that all deductions are correctly calculated and accounted.
• To Ensure all Audit records pertaining to Labor Laws are filed on time
• To Ensure Understand the current compliance status
• To Assess risk exposure in the form of criticality analysis
• To ensure that unauthorized access to the payroll system and data is prevented.
• To ensure that all payroll transactions are accurately reflected in the accounting system
• To ensure that regular and accurate management and statutory information is produced.
• To ensure that company is following all statutory laws and regulations
• To ensure that the calculations of all payments and deductions are correct and in accord with the relevant taxation and other regulations and requirements.
• To Assess Consultation & opinion on business models of varied services
• To Ensure Consultation for handling any specific cases like, Receipt of notices, Internal Disciplinary proceedings, Policy formulation
• To Ensure Consultation on all labour legislations like Business startups to Mergers & acquisitions, Closure or transfers.