1. Employee Onboarding: The process begins with collecting necessary employee details, including bank account information, tax declarations, and employment contracts, which are essential for payroll setup.

2. Time and Attendance Tracking: Accurate tracking of employee working hours, leaves, overtime, and attendance is crucial. This data is integrated into the payroll system for salary calculations.

3. Payroll Calculation: Based on the tracked time, attendance, and applicable deductions (such as taxes, provident fund contributions, etc.), payroll is calculated. This includes gross salary, net pay, bonuses, and other adjustments.

4. Payroll Disbursement: After the payroll is calculated and approved, salaries are disbursed to employees’ bank accounts via direct deposit or checks.

5. Statutory Compliance: This involves ensuring all statutory deductions like income tax, EPF, ESI, and professional tax are accurately calculated and remitted to the respective government bodies within the stipulated timelines.

6. Payroll Reporting: Regular payroll reports are generated for internal record-keeping, audits, and compliance purposes. These reports provide detailed insights into payroll expenses, tax liabilities, and more.

7. Employee Queries and Support: Handling employee queries related to payroll, such as discrepancies, tax calculations, or salary structure, is an ongoing part of the payroll operations process.

8. End-of-Year Processing: At the end of the financial year, payroll operations include issuing Form 16 to employees, filing returns, and preparing for the next fiscal year.

More4less Advisory Services offers a comprehensive end-to-end HR payroll operations process, ensuring seamless management from onboarding to payroll disbursement and compliance, tailored to meet the specific needs of your business.