FAQs
payroll
Organizations delegate the handling of salary disbursement to Ethos as a third party for easy management of administrative tasks and compliance regulations. Ethos processes employees salary by obtaining required attendance data from company, distributes salary through banking channel, prepares all employment tax filings and compliance of applicable laws. Our approach to payroll services involves appropriate planning, a focused approach and support to the organization from start to finish.
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- Cost: Outsourcing charges typically work out to be less than maintaining a specialist in-house team for administrative & compliance tasks.
- Confidentiality & Risk: Payroll details can be held and managed separately to other business information’s in an outsourcing arrangement—avoiding any accidental or incidental access.
- Reliability of Service: As is the case with other personnel-driven business processes, outsourcing payroll will mitigate the effect that sicknesses or other unexpected absences might have on the payroll process. Outsourcing to an expert in the industry helps you be on top of the latest statutory changes.
- Core Business Attention: By outsourcing a non-revenue-producing task, organizations can focus on earning activities, as well as more strategic compensation and HR functions. Streamlined and error-free payroll processes can do more for you. It can help you unlock business insights, improve compliance and steer your business towards comprehensive human capital management.
- Employee Satisfaction: Smooth tech savvy experience with salary matters, alongwith proper response system and query management has a sizeable impact on the attraction and retention of employees in the long run.
- Compliance: While accountability may well remain with the client organization, the responsibility for payroll activity meeting up to date labour law requirements is typically covered by the payroll service provider.
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Yes. This service can be managed for all kinds of businesses – large, mid and small – as well as charities and other non-profit organisations. At Ethos we can provide suitable range of diversified solutions to meet all customized needs of clients. Whether it is simply payroll or entire gamut of administrative jobs alongwith statutory compliance and even reporting or employee self-service platforms.
Large companies with an existing in-house payroll function are likely to see the biggest immediate cost benefits, as they will no longer need to employ dedicated payroll staff or pay for payroll software licensing costs. This will release capital for further investment and more revenue-boosting activities. Risk reduction, better project management, improved processes and flexibility are further advantages that will be immediately apparent to large businesses that outsource their payroll.
Small companies such as start-ups often begin by doing all business functions including payroll, themselves. However this requires time and some expertise, which is a big drain on resources if there are only a few people working in the business. Often this function grows organically as the company becomes medium-sized. Moving to a managed payroll service frees up key personnel to grow the business. It also gives small and medium businesses the benefit of a fixed cost for their payroll which is easy to budget for.
At NicheSpace IT we prioritize client data protection by investing in the latest technology and highly advanced data security procedures to ensure your sensitive information is safe.
The cost of payroll outsourcing depends on a number of factors; including the size of the client organization, the number of employees, the frequency of the payroll need, the complexity of working patterns (and reward options), the particular industry-specific compliance mandates, and the exact service that is required (whether it be basic data processing and calculation or up to strategic financial inputs).
One of the benefits of outsourcing payroll is that typically Ethos processes both payroll and tax filing; takes responsibility for compliance with local, state and central govt.—all of which can provide a certain peace of mind for an employer.
Exchange of data between client and Ethos is mostly via the internet; with both the submission of the data for pay cycle calculation (e.g. time and attendance, absences, etc.) maintained by Ethos.