For any business whether small, medium or large, managing its payroll is not only time-consuming but it is also a function which does not generate any external income for the organization. It is virtually impossible for the management to make compliances up-to-date and that too on time as the rules and regulations of various applicable labour welfare laws keep on changing frequently. Therefore, keeping in view the complicity and to get away from this tedious job, outsourcing of payroll management is perhaps the smart solution. Octagona India provides end-to-end, transparent, and single-point-contact solutions to businesses for the management of their payroll activity.
The key elements include:
Registrations and recurring filings that keep your payroll fully compliant with Indian labour and tax laws.
Monthly payroll processing with PF and ESIC calculations, challans and returns, payslips and TDS on salaries, filed on time every month.
Registering your establishment with the EPFO and setting up the employer portal so employees can be enrolled from the first month.
Monthly ECR filing and contribution payment, UAN generation for new joiners, exits and help with employee PF transfers and queries.
Registration with ESIC once your establishment reaches the threshold, and enrolment of employees for medical and insurance cover.
Monthly ESIC contribution calculation, challan payment and return filing, plus support with employee claims.
Employer registration and enrolment for professional tax in states where it applies, such as Maharashtra and Karnataka.
Deduction, payment and return filing of professional tax on employee salaries every month or period.
Filing annual professional tax returns and paying the company's own enrolment tax each year.
Actuarial valuation of gratuity and leave liabilities under AS 15 / Ind AS 19 for your year-end financial statements.
Setting up or amending a gratuity trust and its deed, including tax approval and tie-up with an insurer.
Need help with any of these services? Talk to our team in India.
PF registration is mandatory once an establishment employs 20 or more people. Many companies register voluntarily from day one so that every employee is covered.
ESI generally applies to establishments with 10 or more employees and covers employees earning up to ₹21,000 a month. Once covered, you must pay contributions and file returns every month.
Professional tax is a state tax. States such as Maharashtra, Karnataka, West Bengal, Tamil Nadu, Gujarat and Telangana levy it, while Delhi does not. We check the rules for every location where you have employees.
Gratuity is a benefit paid to employees after five years of service. Accounting standards require companies to recognise this liability every year based on an actuarial valuation.
Yes. Through our salary incubation (employer of record) service, your staff can be employed on our payroll with full compliance until your Indian entity is ready.