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Payroll management is one of the least favorite jobs in any business. Let’s discuss what gives it this reputation and then we shall see why business houses prefer to outsource payroll related activities to specialist organizations.
Unless your employees are financial experts with experience in accounting it is going to be a mammoth task to manage payroll work of even 20 employees. It not only involves the salary distribution and tracking but other stuff like taxation, PF, ESI, Medical, TDS, Insurance, Employee grievances, Leave records, other allowances etc. Minor errors on behalf of the accountant could prove to be the stumbling block for the company. Responsibility is tantamount to life and death situations.
Please see more details http://www.mmenterprises.co.in/payroll_management_outsourcing.php
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