When the focus of organizations has to be maintained at building the business and delivering growth, payroll management can prove to be an efficient function to have in-house.
An efficient and smooth payroll system helps in streamlining and automating the paying process of a company’s employee. For the smooth functioning of an enterprise, timely and accurate payment of wages plays a pivotal role. The role of payroll function is not limited to calculating wages of employees, but also includes efficient management of many other components such as leave, travel, accruals etc. We provide the following services:
- Employee database management
Employee database management is the practice of collecting, organizing, and retaining employee data. An Employee Database is a beneficial tool for tracking employee performance, tracking employee training & development, and managing employee files.
By tracking employee performance, an organization can identify high-performing employees and detect areas in which the employees need improvement. An organization can ensure that employees are receiving the necessary training to meet the organization’s standards by tracking employee training and development. By managing employee files, an organization can maintain all the employee information in one centralized location.
- Leave management
Leave management is the administration of employee leave as per company leave policy, for better employee engagement, productivity, and employer branding. There are three broad areas of leave management:
- Designing leave policies – Designing good leave policies requires knowledge of statutory rules relevant to your industry and location. While compliance is a concern, a leave policy has to balance business interests, employee needs, and employee engagement.
- Routine leave administration work – Defining leave policies and enforcing them is a full-time HR activity. Leave Accounting, granting of leaves (periodicity, pro-rating, advances, square-off), Handling Employee Queries, Monthly Payroll Advice, MIS Reporting, Year-End Activities are the list of all the things an admin requires to handle as part of their leave administration responsibilities.
- Payroll processing
Effective payroll processing is an essential component of business management, ensuring fair and accurate compensation for employees. At AMA, we offer comprehensive payroll processing services to streamline your payroll operations and ensure smooth and reliable payment disbursement.
What is Payroll Processing?
Payroll processing involves managing all aspects of paying employees within an organization. It encompasses a series of steps to accurately calculate, track, and distribute employee payments. This includes determining the correct amounts to withhold for company benefits, taxes, and other deductions, ensuring compliance with relevant regulations and legal requirements.
Here are some common categories included in payroll services:
- Employee Data Management
- Time and Attendance Tracking
- Wage Calculation
- Deductions and Withholdings
- Benefit Administration
- Payroll reporting
- Payroll Distribution
- Record Keeping
- Salary disbursal
- Statutory compliance report
- Customized Solutions