Regional Payroll Solutions are becoming significant with a number of Asian countries experiencing economic growth. The attraction for business to expand into the region is high with higher complexities of payroll and HR Administration in many countries across Asia. India being the preferred business destination for the organizations from world over, it is very important that your business understand the Regional Payroll solutions and other statutory compliances of not just the operating country but also of all functional locations of the business, if you are an MNC or planning an expansion, it is high time that you get the regional and multi-country payroll in place.
Regional payroll solutions are the answer to several ongoing challenges faced by organizations across countries. From specific compliance and local regulations to pay slip requirements and industry or company specific labor agreements, regional payroll covers it all. All these variables have an impact on payroll processing for an organization paying employees in more than one country.
To overcome the challenges related to legal compliance and avail best global and local solutions with a single window processing is to get customized solutions for Regional payroll.
Regional Payroll solution offers you:-
A Simplified and a full service solution.
Easy to use application formats
Immediate and secure access to HR, Payroll, Timekeeping and reporting information.
Single contract across geographies.
Payroll isn’t just about paying your people it also covers managing them with full-filling legal compliances. It consists of –
Salary Management: Processing monthly salaries
1. Provident funds
2. Employee State Insurance
3. Professional Tax
4. Labor Welfare funds etc
Processing reimbursements and arrears
Employee Query Management
Full and final Settlement
Quarterly Return filing
Components of Payroll Solutions: –
Zero to gross
This stage helps one to capture inputs related to payroll processing and accept inputs in client formats via secure transmission modes. A host of employee self-service features helps in capturing data directly from employees, which subsequently feed into payroll thereby reducing the burden at organizational level.
Gross to Net
This is the core stage as all the calculations and data processing using proprietary technology, calculate earnings, tax deductions, tax deductions, benefit deductions, net pay and payroll related reimbursements processing. At DKM Online, we undertake quality checks, audits, security and quality checks at this stage.
Net to post Net
Post processing services include reporting to corporate at country level by helping them to manage the ground level operations of meeting legal compliances from country to country and salary disbursements for the employees.
In managing regional payroll solutions or the multi-country payroll services at DKM Online are also customized as per the country norms or the organizational set-ups. The startups from foreign corridors also customize salary as per their HR policies and norms. For further information or understanding on the regional payroll solutions, feel free to write to email@example.com