PAYROLL PROCESSING

We believe that any organization can only progress if they put in a lot of thought into their businesses. Unfortunately in today's environment, there are loads of processes that are very important but are neither related to nor are contributing to the progress of the organization. Instead they add up to the cost of operations and are a major dent to the company's bottom line. What essentially happens then is that the management is left taking care of such non-core processes and the thought process required for the growth of business is left lacking. That is where SOFTEX DATA MANAGEMENT step in. We let you utilize your time and chunk of your money thinking about how to take your business forward, We let you work on your product and not process and we let you open your mind to new ideas instead of having it worrying about the paper work.

The prime objective of the SOFTEX DATA MANAGEMENT is to outsource the non core activities of corporate clients so that the management can concentrate on there core activities. We project ourselves as Payroll & transaction processing company of our clients. We have a team of professional chartered accountants, tax experts and financial advisors. We believe in transparent business process, and ensure a trust and integrity filled working atmosphere. We are highly committed to customer satisfaction. Our services are tailor made to suit the customer requirements. Company is backed by 30 qualified personnel, state of the art infrastructure and all the necessary skill sets to service in this competitive industry.

8 Reasons to Outsource Payroll Projects

• Minimize Risk

Doing payroll on your own is tiresome and hazardous. You'll quickly discover that there are many confusing things to track, including forms to locate, tax tables to update, reports to submit, and payments to make. You'll enter a jungle of unknown deadlines, unforgiving rules, and agencies that won't help you. And when you make a mistake, you'll probably get a tax penalty.

• Leverage your time

Do what you do best with your scarce time and energy and outsource the rest; your business will benefit. Small business advisers agree: struggling with payroll taxes is a distraction that takes your energy away from more useful activities. Create and grow your business. Pass the payroll headaches on to someone else.

• High Value

Outsourced payroll is a bargain. Why spend hours doing payroll by yourself when you can get help doing it in five minutes at a very low price? With the time you save and the accuracy you gain, SOFTEX is a bargain for any small business. As a general rule, payroll services are a good investment compared to doing payroll by yourself.

• Avoid Penalties

Nearly one fourth of all small businesses paid penalties last year and that money could have gone towards outsourcing payroll, and is more than the annual cost of SOFTEX's service.

• Direct Deposit

Your employees will love direct deposit. It's a low cost way to provide an extra employee benefit that is very much appreciated. No more trips to the bank! A half-hour saved every payday! At SOFTEX, direct deposit is free.

• Eliminate Software Hassles

You skip the hassle of software updates. Leave the updates to the payroll services. SOFTEX is always up to date with the latest tax rates from around the nation.

• Tap the Experts

You add payroll experts to your team. Any payroll service will be aware of the most important rules and problem areas. SOFTEX's payroll experts know more about payroll than most accountants.

• Reliability
  You'll never again worry about losing the employee that does payroll. With with an easy system like SOFTEX, anybody can do payroll.

Our Services related Payroll Processing

Leave Management

• We predefine annual leave available to employee like Sick Leave, Privilege Leave, Casual Leave etc.
• Automatic Leave Balance Calculation with carry forward to next year.
• Leave History report for any employee.
• Balance Leave Report.

Loan Management

• Management of different loans given to employees.
• Statement of Interest / EMI Calculation
• Month-wise break up reports for installments deducted

Reimbursement Management

• Statement of Reimbursement and period.
• Ledger of Payment History and Voucher submission.
• Calculation of Tax Liabilities

Income Tax Management

• Past emoluments in case an employee joins during the year.
• Income Tax projection with expected TDS to be deducted from the current Month's Salary
• Generation of Form 16 / 16 AA, Form 12-BA, Form 24 – 24Q and ITNS 281 Challan of In come Tax.

Reports

• Monthly Reports
1. Pay slip
2. Payroll
3. Arrears
4. Attendants
5. Leave Summary
• Statutory Report
• Yearly Report
• MIS Report