Payroll Processing: Challenges & Solutions
6 Critical Challenges of Payroll Processing · Coordination with multiple teams The office team spends endless hours providing information to the payroll and finance departments. Even employees give tax-saving records, also expense details for reimbursement. Compiling everything on time, every time takes a lot of work. If the task appears daunting, especially while multitasking, that is to be expected. · Staying compliant with payroll laws Businesses are required to handle all required paperwork and remittances on schedule. Central and State government laws including the Provident Fund, Professional Tax, Labour Welfare Fund, and Shops and Establishment Act, factories act must be considered while calculating taxes for Indian firms. These businesses could suffer a significant disadvantage if there is a problem with tax remittance or if the components...