Payroll refers to a formulated and an integrated list form for an organization’s workforce (employees) and the amount of money that they are to be paid respectively. In other words, payroll is the basic backbone of a company as it directly deals with the human resources i.e. the strength of the company as a unit.
It is very essential to manage an organization’s finances efficiently. With immensely growing technology, the corporate world is enhancing its modes of management as well.Also, since the human resource management procedures have been expanding and transforming through the years; the systems are also enhancing with prior growth orientation strategizing as in order to keep up with the pace under all dynamics.
DKM Online understands the significance of an organization as an employer brand entity and insists of process management through integration as it can lead to a dent in the reputation and hence negative publicity which is grave in context to India.
- Offer a self-service portal through progressive technology
- Brainstorm & strategize policies for efficient Inspection
- Ensure an organized and systematic data management
Regional Payroll processes are managed and delivered with local compliances and expertise. To make the decision making easier for our outsourcing partner, our company has jotted down the monthly payroll process that we follow, access & improvise on a regular basis;
- Follow a Time Table for Regularity
DKM Online forwards the Monthly Payroll Calendar to get confirmation from Client on timelines prior deadlines.
This ensures an efficient management of the data and a timely processing so as to complete the work as soon as possible and intend on saving time. It is also essential so as to keep a record of the data in a standardized form for future use.
- Accurately Calculative
Client then forwards new Hire/Exits/Variable Payments/Deductions, other Monthly payroll details as per Agreed Payroll Input format on agreed timelines based on Payroll Calendar.
The client responds with the information as asked for by the company for a cross-check of the data whilst submission. This data is also utilized in processing the previous information & keep all payments up-to-date in accordance to the calendar.
DKM Online verifies the Payroll Input and asks of further Information from client (if required) before processing Payroll into System, for maintaining a systematic procedure.
Here, the company checks up on the submitted information before completely submitting it towards the finalized authority. If any individual’s submitted information holds some fault; the company inquires about the same on an immediate basis!
- Prompt Payroll Processing
DKM processes the payroll and verifies the input v/s output, variance report; accurate Income Tax Deduction and other compliance to ensure accurate Net Pay of all employees.
Prior processing, numerous formulation is required for each element in the information that has to be processed. This is essential so as to avoid complications.
- Revision & Deposition
DKM Onlinethen shares the 1st Cut salary sheet to Client for any observation or for any last minute Payroll Input – Salary Hold, Bank Details and etc.
This step is vital as it ensures a thorough reviewing so as to make sure that no modifications have to be made anymore. It also helps draw analysis so as to create comparison in parallelism for the various salary give-outs & other details.
On Confirmation, DKM Online shares all output reports like salary sheet, pay slips with tax computation, bank file and compliance-related reports as per agreed timeline.
Post complete evaluation and approval; the resulting output reports are shared. These documents are presented before the client for present and future references.
- Easy Management
DKM Online uploads salary slips after receiving confirmation from client and sends the Login Credential to new joiners.
Understanding the procedure of payroll with our company is quite easy. We input the data you enter and after thorough testament and evaluation, this information is submitted. If you have completed all your procedures righteously; a salary slip is uploaded post confirmation to record the event, followed by individualistic credentials being emailed to the client immediately thereafter.
- Accountability & being Answerable
Employee can raise their query on the Query Module. If any, DKM reverts within 24 working hours.
Post all procedures have been followed, the client and employees have access to the Query Module; a portal that is initiated to serve the purpose of solving and recording queries in the form of questions and comment forms. The company is highly active and reverts on immediate basis.
- Timely Acquiescence & Easy Accessibility
DKM Online shares deviation or comparison report for all payroll activities based on the agreed payroll calendar for enduring smooth process.
The company offers easy accessibility for each payroll activity hosted by the client in order to maintain transparency between the two parties. Also, the company keeps a track of all the deadlines and submissions for proper time management.
However, the mechanism that our company adopts can be exhaustive; hence our payroll managers customize/tweak the process to make it as per the requisites of our clients comprising both local as well as global.