PMS & Payroll Outsourcing
Payroll Management System breaks out into different sources such as attendance management, time management, leave management along with loan or advances management.
Payroll manages to brief the record of employees in the current organization.
Payroll is administered by the administrative department of the company, especially the HR department.
PMS is strategically used to increase the efficiency of the company administration, to store up-to-date information and to make the employees understand the rules of the company.
Payroll Outsourcing
- Payroll outsourcing frames a business practice that involves contracting with a business service for handling all functions related to a company payroll.
- The use of an outsourcing service makes it possible to manage the payroll process without the need to maintain a large payroll department that manage such diverse functions as the calculation of wages and salary, with-holding of taxes, the distribution of withheld funds to the proper government agencies, and the direct deposit of net-pay into the bank accounts of employees.
- There are various reasons why a company shall choose to go with a payroll outsourcing option. The most common way is to save money and time of handling financial tasks associated with a payroll.