Welcome to Karma Management Consultants Pvt.Ltd

End to End Recruitment Solutions	About Us \| Job Seekers \| Head Hunters \|Clientelle\| Industry Verticals \| e-Recruit \|Demo \|Contact \| HOME

JOBS UNLIMITED
Info to Applicants
Hot Jobs
Post Resume
Services

HEAD HUNTERS
Info to Clients
Scope of Services
Post a Vacancy
Search Resume

CAREER MANAGER
Interview Tips
Self Assessment
Career Counselling
Resources

PAYROLL MANAGEMENT
Services
Scope of Work
Method of Delivery
Reports
Downloads

PERSONNEL LAWS
PF Act
ESI Act
Factory & Establishment Act
Contract Labour Act
Downloads
Other Acts

DA's

STAFFING/OUTSOURCING
Concept
Line of Work
Procedures

Site Map

Tell a Friend

Feedback

PAYROLL MANAGEMENT

Overview: Karma believes in guaranteed customer delight, through well-defined processes that deliver the customer requirements. All the processes in Karma are managed by trained, highly qualified and experienced professionals in their respective functional areas.

Objectives:

To manage the payroll processing work of the company.
To have clear processes to ensure error-free and timely delivery of payroll needs of the organization every month.
Provide necessary support for meeting all statutory compliances like IT, PF ESIC, Contract Labour Act and various other Personnel Laws.

Scope of Work:

Payroll Processing and Administration

Process payroll on receipt of soft copy of input data.

Standardized output

Combined Salary Register

PF and ESI statements and challans

PF forms 3A, 6A, 12A

IT form 16, 12BA,and 24

TDS Statement

Bonus Register

Employee-wise loan outstanding register

Deposit Advice/Bank Statement

Pay slips in prescribed formats

Maintenance and Update of Payroll Database

Individual Tax Calculation Statutory Reports :

Monthly P.F. Statement.

E.S.I.C. Statement. (Q'ly and H'ly Statements).

Profession Tax Statement

Leave Book

Monthly Reports :

Pay sheet / Stamping / Payslips.

Bank transfer sheets / floppy.

Cash Disbursement Report.

Bonus Processing :

Bonus calculation as per Payment of Bonus Act.

Calculation of Gratuity as required.

Transfer of deductions to and from the Payroll System.

Bonus ,Gratuity Etc. payslips, disbursement reports.

Income Tax Forecasting :

The salary of the employee for the year is forecasted and income tax is calculated thereon for the purpose of deductions every month.

Takes care of various types of perquisites.

Facility of inputting the employees other income, direct investments and other valid deductions.

Income tax(T.D.S.) certificates and Annual Return can be printed out from the system. i.e. Form 16A/Form 24

Method of Delivery

Client sends Soft copy of monthly input file in format as mutually discussed by e-mail.

Client sends Tax declaration of employees in Excel Format.

Karma processes the Input file and does the salary computation covering all the pay heads.

Payroll and Tax processing is done and Monthly Salary Register (MSR) is created.

Monthly Salary Register (MSR) is sent to the client for approval.

On approval from the Client all statements, reports and pay slips are generated.

Karma delivers its monthly commitment as mentioned in the scope of the work to Client in hard copy as well as soft copy of that particular month.

KARMA Deliverables:

The following Reports will be provided as per the Plan enrolled.
MONTHLY

Payslips and Monthly Salary Register

Division wise salary summary and Division wise salary Register

Bank/Cash/Cheque Statement and PF Register

PF Challans and PF Form 12 A

ESIC Monthly Register and ESIC Challan

Income Tax Summary and Professional Tax Challan Summary

Advance statement and Loan Outstanding statement

HALF YEARLY

ESIC Half Yearly Returns in Form No.6 and LWF Statement

ESIC Register in Form No.7
ANNUALLY

PF Yearly Returns in Form 6A and PF (Individual) Yearly Returns in Form 3A

PF Reconciliation Statement and Bonus Register

PF Register

Tax Estimation Slip (Monthly Individual) (Soft Copy Only)

Form 16 (Annual Individual) and Form 24 (Annual Summary)

Form 12BA ?
Additional Services

Professional Advice/Services connected to PF/ESIC/IT

Phone/Email/Help-Desk support - Std Queries from Payroll database

Changes in Pay heads (Addition or Deletion)

Salary Restructuring

Increments

As discussed and mentioned in Scope of Work

Payment Terms

Payment due: within 15 days of the processing date.

Cheque Drawn: in favor of 'Karma Management Consultants Pvt. Ltd.'

Terms and Conditions:

Lead Time
4 business days lead-time is required after getting the complete input data for the completion of payroll process. Karma is not responsible for the postal delays.

Phone/E-mail/Help-desk support:

For confidentiality and security reasons support will only be provided to an authorized personnel.

Karma will provide standard FAQ's and answers to Chalet Hotels Ltd. based on the queries received over a period of time.

There will be a lead-time of 1 business day for queries that are not of an urgent nature.

This will help Chalet Hotels Ltd. to publish FAQ's in the internal website to reduce future phone-support costs.

Karma will give a report about every call received in a month.

Contract Period:

This agreement shall be valid and effective for a period of 12 months. A new 12-month contract should be signed before the processing starts of the 13th month.

Either party may terminate this Agreement by giving three month's notice in writing, to the other without assigning any reason.

Neither party shall by reason of termination of this agreement be liable to the other for any compensation, reimbursement or damages.

Jurisdiction:

In the unlikely event of any disputes, the parties hereto irrevocably submit to the exclusive jurisdiction of the courts at Mumbai.