Payroll Compliances &
Labour Compliances
In India, there are various regulatory requirements regarding payroll components such as Minimum Wages, Tax deducted at source or TDS, Social Security or Provident Fund (PF), Health Insurance (ESI), Tax on Professions, Gratuity Employee Pension etc. Not being compliant or observing these requirements can be a costly proposition as stiff penalties are imposed, and legal consequences can ensure including prosecution.
FINMAS, with the expertise in labour laws payroll compliance services as a separate service. Our team handles all aspects including Registration, Processing of the data, coordinating with the various government departments/agencies, maintaining registers and records and filing returns along with due payments. We also offer consulting services in these areas.
In addition, we make sure that client obtains the necessary exemptions for un-interrupted and hassle-free operations. We will constantly update you on changes in legislations so that appropriate and timely action can be taken to ensure total compliance.
Finmas Payroll Compliance services broadly cover:
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Devising & developing suitable compliance processes.
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Devising manuals & systems for statutory compliances.
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Monitoring regulatory compliances & filing of necessary returns/records with appropriate authorities.
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Handling inspections & representation.
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Provident fund
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Employee State Insurance
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Professional Tax
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Labour Welfare Fund
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Labour Law Compliance :
Managing Human resource related compliance in an organization is a complex process. In addition to innumerable documents and procedures, the correct interpretation of the laws is also a challenge.
FINMAS consulting takes care of various aspects of regulatory compliances including: obtaining registrations or licenses, observing routine compliance covering remittances/taxes, filing necessary returns, maintaining required registers & records. We also help our clients obtain the necessary exemptions for un-interrupted and hassle-free operations.