PAYROLL ACCOUTING

What is Payroll Accounting?

Payroll accounting is a method used to calculate aggregate expenditure on wages and salaries of employees incurred by a business in an accounting period. This method of accounting for payroll includes the company’s recording of its employees’ gross wages, salaries, bonuses, commissions and other benefits as well. Payroll accounting distinguishes between employee taxes which are deducted from employees pay and employer taxes which are paid by employers. This accounting also keeps records of employer’s fringe benefits such as health insurance, vacations, paid holidays, workers compensation insurance as well as pension and savings. Payroll not only is responsible for employee’s salary compensation but also plays a vital role in protecting the company’s reputation.

Payroll Accounting Procedure

Payroll accounting helps businesses to ensure that their employees’ receive their pay on time. Here is the procedure on how this is carried out by a business:

TIME REPORTING

There are many tasks involved in payroll accounting but the first task is to collect necessary data regarding the time worked by an employee on a daily, weekly and monthly basis. Companies must issue time cards to every individual to record exact working hours of that employee. This helps the accountant to measure the pay of the employee accurately. The task of time reporting also helps a business to curb payroll tax burdens and workers compensation premiums.

PAY COMPUTATION

As payroll accounting is done to calculate the compensation owned to each employee. By knowing the hours worked by an employee and multiplying it with the pay rate, it becomes much easier to calculate the pay of that particular employee. Also review your pay policies and procedure to look for inefficient workflow patter. Changes regarding salary structure and pay grade will be initiated in case of promotion of a worker.

TAX COMPUTATION

Employees must submit payroll tax as well as income tax to its employer so that they fill and submit it to the tax authorities. The accountants hired by a business calculates the exact amount of income tax owned by every employee after the gross compensation owned. Then the total tax collected will be given to the Internal Revenue Service so that there is no tax burden on the business.

OTHER BENEFITS

Many businesses provide their employees with certain benefits such as paid vacations, pensions and many more such things. These things make it more difficult for the company accountant to calculate the payroll amount as most of them get paid for holidays also. Any other contributions offered by the employer must also be done in payroll accounting.

PAY DISTRIBUTION

After every task has been completed, that is, working hours of every employee has been recorded with their income and payroll tax been given to the tax authorities. The net pay is given to every worker in the form of cheques, direct deposit into their accounts or through cash.

IMPORTANCE OF PAYROLL ACCOUNTING

MORALE OF EMPLOYEES

Payroll accounting impacts the morale of the employee as they need to feel assured that they will get paid on a timely basis. When the pay is on time then the employee will be motivated to work more efficiently to get bonuses with their pay but if the pay is late then the employee will feel that the company is not financially stable. This will result in bad performance of employees in q business, so the organisation must keep in mind the importance of its employees.

COMPANY’S REPUTATION

The business must see to it that the payroll activities followed by them are adhering to the tax policies and also complying with employment legislations. The business will uphold its reputation only when they are efficient in meeting tax obligations on time. This will attract more worker in the market to work in the business as the business will provide timely pays to them.

RE-ALLOCATION OF RESOURCES

Payroll accounting has to be performed regularly to ensure more precise payroll calculations. Payroll can be very time consuming, so it needs more resources to work with and regular activities help the business to know the required resources. As payroll is now automated, it allows organisations to save on costs in the long run. Furthermore, it frees up valuable resources for the organisation to focus on other business activities.

It is advised for any new business that they should take help from a financial consultant as there are many laws regarding payroll accounting. This will help them to stay out of trouble and also to devote their time on something else. An efficient payroll department reflects the organisation’s way of working and how they respect their workforce.

Checkout our Payroll Management Services to know more about the Payroll Management. You can also connect to us through mail or form incase of further queries.

For more information on Payroll Accounting, feel free to reach us on, info@gapeseedconsulting.com or call +91-9599444639/+91-9599444630

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Importance of Accounting for Startups

Significance of Accounting for Startups

Accounting must be given prime importance in any business entity as it is most required, especially for controlling and for providing financial reports at the end of the year. Accounting will help a Startup to determine its productivity and its profit from the initial stages of the company. This provides entrepreneurs a method for maintaining accounting information. The accountant hired by the company will keep track of the money spent for business use as well as for personal use, this will help in strategizing on how the money can be saved. In the initial stages of a Startup, the company must hire consultants or interim CFOs to maintain simple accounts rather than spending more on in-house professional resource.

Benefits of Accounting for Startups in Initial Stage

Forecasting Financial Estimates

Every Startup needs to provide information regarding its financial estimates to banks, investors or lenders to obtain funds in return from them. Accounting helps the business to make a business plan which includes estimated monthly expenditure, economic forecast, projected rate of growth of the Startup. This information is really important for a Startup to lure more and more investors to invest in their idea. The investors also ensure that the entrepreneur has a reliable projection of its company’s financial expectations.

Determine Profitability

Accounting helps an entrepreneur to determine its profitability in the future. It helps in monitoring the progress of the company and also to make necessary amendments where necessary. Through accounting, entrepreneurs will get to know where they need to use their assets to generate profit. An entrepreneur also needs to provide financial information to its investors to ensure them that they will be paid in a timely manner. A monthly statement such as a balance sheet and an income statement shows how if a business is blooming or not, these statements helps in determining a business general profitability.

Budget Expenses

Accounting helps an entrepreneur in setting up a Budget for expenditure on various aspects affecting a Startup. Accounting helps in maintaining records of the cashflow in the business, capital is used in hiring of employees, advertising, purchasing of inventory, petty items. Budget helps an entrepreneur is reducing expenditure on not so essential items and by saving the capital for future purposes.

Payroll Accounting

Accounting for startups help an entrepreneur to record its employees’ compensation such as salaries, bonuses, commissions and any other means earned by an employee. It also maintains employees’ portion of Health insurance premium, Social security taxes, paid holidays. This creates a database for the company consisting of all of its employees. Entrepreneurs must consult accounting professionals during the incorporation of its business. This is a must for an entrepreneur as outsourcing will help a company to grow much faster with the help of a trained professional. Outsourcing helps in many ways such as:

Tax Specialization

Taxation is a main aspect where a Startup may face some difficulties beyond the areas of fund raising and finance. This is where trained professionals like Chartered Accountants play a crucial role in the growth of the Startup. A trained professional who knows the tax laws whether it may be direct tax, indirect tax or any other tax involved will smoothen the working of the business. Well managed and transparent taxation is one of the most required aspect in Accounting for Startups.

Focus on Business

An accountant helps an entrepreneur by letting them focus on their product rather than worrying about the finance. The entrepreneur can create partnerships, create relationships, market its product with the help of an accountant. It will provide valuable information to the business to make it grow and earn profits. An accountant will also help in covering the cost as well as reducing the expenses incurred by the company.

Secretarial Duties

A professional accountant can also perform duties of a company secretary as they are specialist in company law. They also see to it that the company is complying and adhering to the laws laid by the Company Act, 2013. Start-ups strictly need to follow these rules from the start as it may result in the dissolution of the company.

Valuable Business Partner

Outsourcing accounting gives a huge importance to start-ups as these outsourcing firms have wide range of expertise working under them. This support from such firms will be very valuable for the Startup as it has a lot more experience when it comes to raising funds, financial planning, financial reporting. It is better to get financial assistance from trained professionals at the early stages of a Startup as it makes the business develop and grow faster. Many entrepreneurs lack accounting skills and tend to make wrong decisions regarding accounting which acts as a negative aspect in accounting for startups.

For more information on Importance of Accounting for Startups, feel free to reach us on, info@gapeseedconsulting.com or call +91-9599444639/+91-9599444630

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What Are The Things Great Managers Do Differently?

Have you tried to prove yourself as a good manager? Do you sometimes feel you need to get the best out of your position and those working with you?

Here are 7 tips on how you can exploit your subordinates’ and your own potential to the fullest.

• Discover your employees’ strengths It’s very important to know when people are clearly enjoying what they’re doing. Their talents, their values, their hard work, their interests, their distractions, everything plays an important role in assessing an employees strengths and what are they more likely to do better. This way, they could enjoy the work they do for the mutual benefit of the employee and the organisation.

• Offer guidance for their development All the work assigned to the employees should regularly be checked, and any guidance sought should be offered to them. The employees should be focused more on their strengths, and on developing them. It is the duty of the manager to check on it and offer help as and when required for development. If they had the opportunity to do what they do best each day, what would they be doing more of? What development support, on-the-job experiences, coaching or training, off the job trainings might they need to develop these strengths further? These are some important things you should keep in mind for their overall developments based on their strengths.

• Give strength-based feedback – You should look at how your employees are using their strengths for their duties. Tell them when you’re proud of good results that you get after they apply their strengths. Help them to understand when they’re overplaying a strength and how to dial it back in these moments. Encourage them to stop underplaying specific strengths when you see them hesitating or holding themselves back. Your feedbacks play a crucial role in their development.

• Set Clear expectations – The outcome of work, from every input should be pre planned and well defined. Every employee under you must know what is expected out of their work in a defined time period. If this is not clearly defined and agreed upon both ways, there will be lots of confusion when the deadline comes, the atmosphere in the work place would prove to be against benefits and you’ll find unhappy faces and blame games all over the place. This is why it’s very important to discuss in detail with the whole team and clarify wherever needed.

• Identify Uniqueness – Great Managers try to learn what is that one thing which is unique about every employee and work on it. They tend to use the unique factor for the benefit of the organisation.Everyone is good at something. It helps improve the over all productivity in work place with satisfaction. Such identification works wonders if done with each and every employee in any environment.

• Appreciate Subordinates – Some managers are quite reluctant to appreciate their subordinates because they think it will make them overconfident and complacent. But, this is opposed to what is the ideal way of treating and behaving with subordinates. For development and confidence boost, they need appreciation, recognition and appraisal from time to time when they do work that demands these. Everybody likes to get appreciated for the things that they do.Excellence needs praise. Great Managers never make it too late to appreciate.

• Care about subordinates – If you are a manager, you need to take care of people you’re managing. Sometimes, your employees might have certain personal problems coming in the way of organizational duties, you need to care for them, and understand the circumstances through which they are going. They might need an extra leave, they might need your inspirational and motivational words when they are morally down, they might need a boost when things are not going on well and so on.If you prove to be a good manager in this respect, so will they turn out to be good employees.

For more information on feel free to reach us on, info@gapeseedconsulting.com or call +91-9599444639/+91-9599444630

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EMPLOYEES PROVIDENT FUND

Employee’s Provident Fund is a scheme which helps in providing financial assistance to the workers by saving their own money for future use after retirement. This scheme of Employee Provident Fund has been carried forward by the government for the welfare of its retired citizens and also for those who are disabled to work. The employees and their employers have to contribute a fixed amount of money from their salaries at a constant rate within a particular time interval in the Provident Fund to get interests after retirement. When the Provident Fund matures, it provides a good return and interest of the invested money as the money received will be Tax-free. The Employees Provident Fund can also be used before retirement in case of an emergency such as when a person is unfit for employment, this provides a type of monetary security to the employee. This scheme is growing at an increasing speed and is backed by many intellectual people in the business and finance industry.

APPLICABILITY AND ELIGIBLITY IN IMPLEMENTATIONOF PROVIDENT FUND

APPLICABILITY

• A company or any other Business entity having 20 or more employees working for the business must register for the Employee’s Provident Fund.
• The employers and the employees have to issue an amount of Rs.1800 per month into their Employees Provident Fund.
• When the amount has been transferred into the Employees Provident Fund, a small contribution is also made to the Pension, Insurance and Administrative Cost account.
• In case of a company which has more losses than its entire net worth can contribute 10% of their compensations in their Employees Provident Fund.

ELIGIBILITY

• An employee working under any company is qualified to participate in the scheme of Employees Provident Fund.
• Any company having 20 or more employees is eligible of participating in this scheme.
• Whenever an employee exceeds the amount of Rs.6500 in their salaries, then they have the eligibility to join the scheme with the permission of its employer.
• When a person becomes the member of this scheme, they have to contribute 12% of their rewards in the Employees Provident Fund.

BENEFITS

Insurance

In most of the organisations employee’s insurance schemes are not available to the employees of the company, Employees Provident Fund provides that scheme for the security and stability of the employee in the future. For getting insured, the business entity just need to provide a sum of Rs.6500 on a monthly basis to ensure an insurance premium benefit. Insurance helps an employee in case of an emergency, also provides a good amount of money after maturity for the survival of their family.

Pension

When an employee has retired, and does not have any source of monetary income, pension provides that source for the employee. A part of the employees pay also goes into the Employee’s Pension Fund, which provides an employee a sense of security after retirement.

Tax Free

Upon maturity of the Employees Provident Fund, the interest received by the employee’s will be tax free. This results in proper stability and security of employees as they get vast interest on their invested amount.

Financial Security

The Employees Provident Fund provides financial security for the employees at the time of retirement, emergencies and at loss of income. Employees Provident Fund provides a source of financial assistance to the retired personnel as well as gives funds to the employee to meet their requirements in case of an emergency, early drawings are allowed only in case of an emergency. When an employee cannot work, or has any disability to work, provident fund helps them to overcome their loss of income and provides means to survive. Also, if the employee has passed away then the funds are passed on to their applicant to provide them with financial assistance.

Long Term

The Employees Provident Fund allows the employees to have some kind of monetary security in the long run, it also ensures that the employee can have certain investment or any other goal after retirement. Resources can also be borrowed in the Long Run for marriage, education, medical reasons and also for housing purposes.

Withdrawal

Employees Provident Fund also provides the benefit of withdrawal to the employee. An employee can withdraw their money only when they are unemployed, self-employed or have left the current job to work in another company. In case of any emergency, an employee can withdraw the amount in its provident fund before the time of maturity. Pre-mature withdrawal can also be treated as a loan as an employee can use the money for education, marriage, medical expenses. These withdrawals must not be more than 50% of the amount in the provident fund.

Transfer

An employee can also transfer its provident fund account rather than closing it whenever they are leaving their current job and joining a new employer. Transferring of the funds from an old account to a new one is a better option because if an account is closed before 5 years then the money contributed in that account will then become tax deductible whereas by transferring of funds, an employee will get the money in full at maturity.

REGISTRATION PROCEDURE FOR EMPLOYEES PROVIDENT FUND

The Employees Provident Fund registration is now mainly done Online as it is more convenient and accessible for an organisation. A business entity having less than 20 employees can apply for the scheme voluntarily, but an organisation having more than 20 have to register their company for this scheme to avoid penalties in delaying the registration. The procedure for registering for the Employees Provident Fund is as follows:

• The company must provide the name, address, branch details, head office details and the Date on which the company was established.
• The organisation must also provide the total strength of employees working as well as the services provided by the company.
• They must also provide the legal proof that if the company is a partnership, private limited company or a public limited.
• The total salary distribution to the employees of the company must be provided with the details of the bank in which the company has its account.
• The Directors or the owners of the company have to provide legal documents to prove that the documents are verified. The address of all the owners must be given with the details of all the employees including date of joining, salary.
• A copy of the partnership deed must be given to prove that the company is registered with the Registrar of Companies.
• PAN details of the Business entity must also be provided.

For more information on EMPLOYEES PROVIDENT FUND, feel free to reach us on, info@gapeseedconsulting.com or call +91-9599444639/+91-9599444630

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Online Tax Filing

The forms for the (ITR) Income Tax Return for Financial Year 2015-2016 i.e. Assessment Year 2016-2017) have been released by the Income Tax Department. These are applicable for your income tax
return for income earned from 1st April 2015 to 31st March 2016.

If you’re looking forward to get some assistance on filing your Income Tax Return Gapeseed Consulting can help you with knowing different ITR Forms and filing the same. You could read more on our website here.

To figure out which ITR you need, read below to know more.

ITR-1

The following people need this return form whose total icome for the assessment year 2015-2016 include

Income from Salary/Pension
Income from One House Property
Income from Other Sources which does not include Winning from Lottery and Income from Race Horses

Who cannot use this Return Form

If you own any asset for any financial interest or have an account located outside India you cannot use this return form also if you have exempt income which is more than Rs. 5,000, you cannot use ITR-1.

ITR-2A

This tax return form can be used under the given condition:

Income from salary and has more than one house property but does not have any capital gains.
People with long term capital gains securities on which transaction tax is paid.
NRIs if they do not have any foreign assets.

If you fall under any of the category below you cannot file through ITR 2A

If income is from capital gains
Income from Business
If you have claim of relief/deduction under section 90, 90A or 91
If you have any asset which lies outside India.
If you have an earning source outside India.

ITR-2

If you lie under the category of Hindu undivided family you need to file your tax by filling up ITR-2 under the following circumstances:

If the Income is from Salary/Pension
Income earned from house property
Income from Capital Gains
Income from Other Sources which includes winnings from Lottery and income from Race Horses.

The Return Form should not be used by an individual whose total income for the assessment year 2015-16 includes Income from Business or Profession or if you receive remuneration as a Partner in a Partnership Firm or LLP. If you lie among anyone if the following categories you need to declare these types of incomes under ITR-3, ITR 4 or ITR-4S.

ITR-3

This Return Form is to be used by an individual or an Hindu Undivided Family who is a partner in a Partnership Firm or LLP and where income chargeable to income-tax under the head, profits or gains of business or professional does not include any income except the income by way of any interest, salary, bonus, commission or remuneration, by whatever name called, due to or received by them from such firm.

Only this form is to be used in case a partner in the firm does not have any income from the firm by way of interest, salary, etc. and has only exempt income by way of share in the profit of the firm and not Form ITR-2.

If your total income is from Business or Profession under any proprietorship then this Return Form should not be used.

ITR-4S OR SUGAM

This Income tax Return to be filed by individuals, HUF and small business taxpayers having presumptive business income, salary/pension, one house property or income from other sources.

You cannot use this form if the individual has more than one house property, speculative income, agriculture income more than Rs 5000, capital gains.

ITR-4

For individuals and HUFs having income from a proprietory business or profession.

ITR-5

For firms, LLPs, AOPs (Association of persons) and BOIs (Body of Individuals)

ITR-6

For Companies other than companies claiming exemption under section 11 (Income from property held for charitable or religious purposes)

This return has to be filed electronically only.

ITR-7

For persons including companies under section 139(4A) or section 139(4B) or section 139(4C) or section 139(4D).

Return under section 139(4A) is required to be filed by every person in receipt of income derived from property held under trust or other legal obligation wholly for charitable or religious purposes or in part only for such purposes.
Return under section 139(4B) is required to be filed by a political party if the total income without giving effect to the provisions of section 139A exceeds the maximum amount which is not chargeable to income-tax.
Return under section 139(4C) is required to be filed by every
1. scientific research association;
2. news agency ;
3. association or institution referred to in section 10(23A);
4. institution referred to in section 10(23B);
5. fund or institution or university or other educational institution or any hospital or other medical institution.
Return under section 139(4D) is required to be filed by every university, college or other institution, which is not required to furnish return of income or loss under any other provision of this section.

Click here to drop us a line if you have any questions regarding tax filing online.

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Business Support Services for International Businesses

t’s not easy to set up a business and these days small business owners think that it’s becoming even more difficult to manage and run a thriving company. While more and more business owners find it difficult to keep up with the competitive pace and continue to struggle to acquire everything required for the smooth running of the business;

they may gradually ask assistance from an outsourcing company to manage the business swiftly.

Start-ups and SMEs cannot always afford hiring new employees who can take care of the various business functions like customer services, travel desk assistance, bookkeeping, accounting duties and other related day-to-day tasks. Therefore, outsourcing the core processes makes it more cost effective and enables them to focus more on business development and invention of new ideas through which the business can be expanded further.

To ease up your burden, this is where our Business Support Services comes in and allows businesses to save money and provide outstanding services. So, let us explore the basic business support services that are required to run a business smoothly and how Gapeseed Consulting can take care of each one of them diligently.

Business Travel and International Visa Assistance

Travelling for business purposes is very common irrespective of the size of the business/ company. It could be attending a meeting abroad or arranging a small workshop for partners in some other city but managing business travel can affect your company’s budget if you don’t plan it well. In most cases, small businesses spend more on travel than large corporations. This is due to the fact that most small businesses lack a streamlined travel expense system. That’s where the Business Support Services of Gapeseed Consulting hop in.

When you choose us, we will not only help to arrange for your business travel, we will help you track and manage your budget so you can maintain a healthy bottom line. When you become our client, a dedicated professional/ account managed from Gapeseed Consulting will work for you to book flights, hotel rooms, transportation, visa assistance and other services that fit your budget and meet your company’s needs.

The Business Travel Services that we offer includes:

A dedicated assigned team to your account
Standard and custom corporate reports, along with access to secure online financial reporting
Financial management – Costings, provisional budgets based on different travel scenarios, closing budget, invoicing, payment and fee collection
Corporate travel and accommodation – Organizing National and International trips for employees/clients.
Completion of ticket voids
Management of Visa requirement – Organizing Visas, Visa Services to International Expats, travel insurances etc.
Delegate administration – Bookings, joining instructions with venue maps etc.
Emergency support available worldwide, 24X7

Setting up a Branch in India or Abroad

At Gapeseed, we offer host of business support services related to complete business set-up, be it in India or abroad. Our experienced professional team specializes in advising the right kind of business set-up keeping in view your business need and the necessary tax aspect.

Our bouquet of services covers from initial market study to post setup support for operational optimization. Services like taking care of approvals, legal compliances, registrations with authorities and all this in minimal time duration. We walk the complete path of setting up business with our clients in a smooth manner till they establish and enforce complete implementation.

Business Management Services, we offer, include:

Planning & Advisory

Advising on business structure
Advising on Indian/Abroad Regulatory Environment

Execution

Registration of Company, Partnership, Trust
Application for Various Trade Licenses
Registration with various tax Authorities (Central or Local)
System Development & Other related services
Management Support Services

Complete solution for setting up business

Customized solution according to need
End to End Advisory

Managing a Foreign Office in India

Managing a foreign office in India can involve a lot of risks if you don’t have the right kind of people working for it. So it’s very important to take care of employees that you are hiring. Staffing for foreign corridors in India is an uphill task as we have to act as the Employer Brand and the ambassador both and that is the reason we included Managing a foreign office in India as a part of Business Support Services at Gapeseed Consulting.

You need to have facts with employee background checks, you need to have resources to help you uncover records, employment education verification, paying employees at the right time, management etc.

All this involves different processes and Gapeseed’s umbrella of Business Support services include,

1.Payroll Management

Payroll isn’t just about paying your people. It’s about maximizing the productivity of any organization. Gapeseed Consulting Services helps to maximize the productivity of a company by channelizing timely and accurate salary processing, efficiently handling the reimbursements, managing loans and advances and government of India statutory requirements including all PF and TDS. We provide complete HR Payroll solutions to our clients/enterprises. A better management helps in streamlining processes, supporting employee work-cycle, lowering risks related to compliance and penalties etc.

2.Business Support for Managing a Foreign Office include,

Payroll Accounting

Recording and Reconciling Payroll Transactions
Professional payroll processing- pay checks and pay stubs
Payments to independent contractors
Payment tracking of employees

Compliances

Guaranteed, accurate federal, state and local tax calculations
Deposits & Compliance of EPF ESI or other Employee Welfare Contributions

System & Process Integration

The pace with which technology is changing and its effects on an organization is alarming. To keep their businesses on track with latest technology and solutions, an organization may either have to update their old systems with newer ones or replace them with new products from other vendors.

This migration process needs certain expertise in planning and execution. To fill this gap, Gapeseed’s system integration process steps in. Our integration services team includes various software, hardware and functional experts who can easily plan and execute this kind of migration without disturbing existing business activities of the clients. Our approach involves analysis of existing processes, understanding existing pain areas and then taking care of them via new and improved processes and technology solutions.

Services We Offer

Excellent implementation and support services help the client to concentrate on their business rather than handling day-to-day operational issues of the software.

Easy integration of different systems helps into optimized business processes and functions.

Customized solutions help customers get only those modules which are required for its business and internal activities.

Gapeseed Consulting comes with the expertise of directors and consultants who have handled many turnkey projects with international corridors. The need of Business Support Services emerged from that very domain only and we are most certain of the support we offer.

For more information on Business Support Services for International Businesses, feel free to reach us on, info@gapeseedconsulting.com or call +91-9599444639/+91-9599444630

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Payroll Services in Delhi NCR

Every business owner is faced with the option of doing payroll in-house or outsourcing to a payroll service provider. While each has its advantages, outsourcing payroll seems to be a common choice for both large and small businesses. Reason being – it saves cost and increases efficiency. Once you outsource the service, the providers can manage the tedious task of running payroll whereas you and your employees can focus on business growth.

In simple words the purpose of any payroll system is to standardize the process of paying employees and organize everything for tax purposes. Now, to choose the best payroll service for your business can be a difficult task. Because the type of payroll service that works best for each company depends on the needs and circumstances of the business. Some payroll providers can accommodate large companies with hundreds of accounts, while others are focused more on small businesses and limit the number of accounts they work with. So you should consider parameters like the cost involved, the reputation or status of the provider and the services it will provide.
However with so many options to choose from, finding the right one can be overwhelming. So to help you out in best way possible, Gapeseed comes as a rescuer. Our motto is very simple – We prioritize our client’s needs.

Check out the Benefits of Payroll Services

Save Cost: The most important aspect of any business is cost saving. So, in addition to reducing the probability of costly penalties, hiring Gapeseed to manage your payroll module can save you money in lot many ways. The price that you will be investing for training purposes or for labour may add up more than the price of outsourcing. And there’s no guarantee involved. Whereas if you hire us, you and your team can concentrate more on the business growth while we take care of the rest. We will also be involved in taking full responsibility for any mishap and you can feel confident, mistakes (if any at all) will even be taken care of.
Increase Productivity: Now, once you avail the service, you don’t have to involve any of your internal team members to process payroll, which means you not only save on cost, but also time. The team member can actually get involved into doing something productive rather than spending time on keeping track of employees’ wages and fees, processing paychecks and records etc.

Faster Processing: We hire experts of the industry when it comes to payroll rules and requirements. We also have advanced technical resources as support, so we can complete complex payrolls quickly and accurately. Be it paying the wages or reviewing employee contribution and deduction, all are taken care systematically. This also includes adding new employees to the system and removing former employees as soon as they leave the company.
Reduce Compliance Issues: Payroll tax regulations can be complicated and confusing. When trying to concentrate on running a business successfully, it may be difficult to stay up with all the tax rules and changes. Yet it is very important to keep a track as inaccurate payroll reporting can result in penalties from the government. Gapeseed can help you prevent compliance issues. Our systems are upgraded with up-to-date information on all tax rules and therefore reduce inaccuracy of any sort. In addition, we also handle filings, taxes and payments, and other such complexities.

There are many details and factors to consider in each of these processes and the easiest way to tackle all of them is to hire a professional payroll service provider. And to do so it’s advisable to hire the best among the rest.

Whether you are seeking the Payroll Services for a funded startup, an Indian Office of your foreign-aligned venture or any other payroll services in Delhi NCR, get in touch with us.

Further to this if you seek any further clarity, feel free to write to us on, info@gapeseedconsulting.com or you can also call us at +91-9599444639.

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