One of the most important business functions in any organisation is payroll processing, which is still not a core activity. Handling payroll processing in-house requires the HR team to manage timely payroll processing, onboarding, vendors, leave and attendance management, benefits administration, and various other administrative tasks.

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The task of payroll processing is complicated, time-consuming, and mundane. Furthermore, staying abreast with the constantly changing labour laws and regulations can pose a challenge for any business. That’s why companies prefer outsourcing payroll services so that their in-house team can be more productive and focus on the core business functions.

Payroll outsourcing companies manage all HR administrative tasks and ensure that employees are paid accurately and on time. Payroll outsourcing services simplify payroll and offer end-to-end payroll management services. They help businesses be compliant, automate their payroll, and delight employees through timely and accurate payrolls.

The following is a brief discussion on the benefits and features of payroll outsourcing services and how it allows businesses to focus on their core HR functions. The information, tips and advice provided here come straight from one such company that has been offering payroll outsourcing and HR services for close to two decades and has expertise in the management of payroll processes and the simplification of payroll management.

Features of Payroll Outsourcing Services

In every business, payroll is a core function, and having accurate payroll and HR management is essential for any business looking to delight and retain its employees.

Third-party payroll outsourcing companies provide full-featured payroll solutions that help businesses swiftly and seamlessly manage HR, admin, recruitment, or legal processes, so that they are free to focus on the core business objective, which is business growth.

Payroll outsourcing companies provide comprehensive employer services and assist businesses in paying employees promptly, compliantly, and consistently, nationally and internationally according to their business needs.

Here are some of the features of payroll outsourcing services:

End-to-End Payroll Solutions

It is quite complex to manage payroll operations in-house. So, third-party payroll service providers offer solutions that are not only innovative but also scalable to manage payroll operations with greater efficiency and effectiveness.

Employee Self-Service

Business organisations can use the payroll management system to improve the employee experience through the self-service modules. The modules essentially give employees access to their payroll information on the go.

Leave and Attendance Management

Payroll outsourcing services simplify managing both attendance and leaves through the automation of the leave management system. They offer a comprehensive service for leave management that allows organisations to easily synchronise employee shift timings, leaves, attendance, and holidays.

PEO/EOR Companies

Payroll outsourcing services also provide employer of record (EOR) services. Under these services, these companies provide hassle-free employee management from start to finish.

Statutory Compliance/Filing

Third-party payroll processing companies allow businesses to remain compliant by taking care of statutory compliance and filing related laws. The statutory compliance services that these companies provide includes provident fund, income tax, labour welfare fund, ESIC, and profession tax.

Advantages of Payroll Outsourcing Services

Payroll outsourcing services allow businesses to leverage professional expertise at cost-effective rates for HR and payroll management and reallocating internal resources to the management of core business functions. Outsourcing payroll services offers businesses numerous advantages such as:

Saving Time

Payroll processing is a complex and time-consuming task that involves a lot of administrative work such as grievance management, managing employee attendance and leaves, employee data, and error-free payroll calculation. All these activities usually take away time from core business activities.

Staying Compliant

Businesses are required to adhere to the laws of the land as well as statutory compliances. Non-compliance may lead to litigation or even penalties. So, statutory compliance is yet another benefit of companies outsourcing their payroll services.