Payroll Management and Payroll Administration
Payroll administration is not only one of the most demanding functions of a company, but, also an extremely important one. A company’s greatest asset is its employees, and, it cannot afford delays or miscalculations in payments.
The Payroll function is becoming increasingly complex and time-consuming with each passing year — and this trend shows no signs of reversing. This is mainly because the Tax authorities have placed the onus of correct withholding of all relevant and necessary taxes on the employer. Companies have to delve into the complex world of Income Tax law and keep abreast with its constantly changing regulations, so as to avoid penalties for incorrect tax withholdings. This has translated into the HR or Finance department having to spend 25% to 35% of its time on payroll related functions.
Outsourcing of Payroll Administration is thus becoming a growing global trend, as companies realize the need for concentrating on their core competencies.
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Recruitment and Placement
Paymaster Services’ recruitment division assesses client requirements in great detail and thoroughly screens candidates with extensive interviews (including psychometric tests) and reference checks. Over the years, Paymaster Services has not only provided some of the largest MNCs and corporate houses with the right individuals for their current needs, but has provided them with individuals who have taken them to new levels of excellence.
Training
Paymaster Services has successfully conducted in-house training programmes for participants from more than 120 companies both at home and abroad. Topics covered include Business Finance (for Non-financial Managers), Personal Finance, Tax & Investment Planning, Effective Communication, etc.
Programmes are tailor made to suit the required industry by comparisons and case studies.
Mr. D.N. Paymaster, who is affiliated with Paymaster Services, is also a visiting faculty member at Jamnalal Bajaj Institute of Management, the Xavier Institute of Management and K.C. College of Management Studies.
