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Payroll services

Srifintax is one of the leading payroll outsourcing companies in Hyderabad. We work with organizations of all types and sizes. Whether you have less than 10 employees or thousands of employees, we can take care of your payroll management. Our team includes experts in payroll compliance and labor laws. So, we help ensure that all the compliances are met. Our aim is to ensure that both the employee and the employer is happy. That’s why we have designed a self-service portal that the employees can access. This portal will allow employees to check their payslips, track deductions, reimbursements, taxations, bonuses, and other benefits. In case, they have any queries, they can raise tickets on the portal itself. The employers will also have a clear idea of payroll management. We can also customize the portal and the dashboard based on your organizational requirements.

Srifintax is one of the best payroll outsourcing companies in Hyderabad. The team makes use of the latest technology to manage the payroll operations. A team of an account manager, payroll executive, consultants for statutory compliance, help desk team help in managing the payroll processing.

Focus on building your business as we take care of the nitty-gritty details of payroll management. Contact us to know more about our payroll services in Hyderabad.

PF Registration

Provident Fund (PF) is one of the main platform of savings in India for nearly all people working in Government, Private or Public sector organizations. It is implemented by the Employees Provident Fund Organization (EPFO) of India. Registration has to be done within One month from the date of hiring 20th employees. PF is the best way to provide social security to the employees.

Provident Fund PF is largely an employee benefit scheme prescribed by the Government which provides facilities to the employees of an organization about medical assistance, retirement, education of children, insurance support and housing. It is created with the purpose to provide financial security and stability to employees.

Contribution towards EPF

  • Contribution to EPF is to be done by both Employer and Employee.
  • Employer deducts his employees’ share of EPF from his salary.
  • Employer needs to deposit the amount of his contribution of EPF along with employees deducted share.
  • The Employer’s contribution to EPF would be 10% and that of employee’s would be 12%.


Why is it necessary to contribute in EPF?

  • The PF contribution by an employer will be tax-free.
  • The amount including the amount interest will be exempt from tax on withdrawal after a specific period.
  • Organizations can also enroll themselves voluntarily under PF laws.
  • Note: Any delay in registration of EPF (Employee Provident Fund) may result in a penalty.


Documents required for PF registration

  • Digital Signature of Proprietor/Partner/Director
  • Aadhar Card of Proprietor/Partner/Director
  • PAN Card of Proprietor/Partner/Director
  • Cancelled Cheque/Bank Statement of Entity
  • PAN Card of entity
  • Electricity Bill of the Registered Office (not older than 2 months)
  • Shop and establishment Certificate/GST Certificate/ License issued by the government for factory


Extend Social Security to your employees. Register for Provident Fund. Prices starting INR 5999/- only.

PF Return Filing

Employees Provident Fund (EPF) is a scheme controlled by the Employees’ Provident Funds and Miscellaneous Provisions Act, 1952. It is regulated by Employees’ Provident Fund Organization (EPFO). PF registration is applicable for all establishment which employs 20 or more persons. PF registration can also be obtained voluntarily by establishments having less than 20 employee.

  • Provident fund is a social security system that was introduced for encouraging savings among employees, so as to benefit them during the course of their retirement.
  • Contributions are made by the employer and the employee monthly. PF contributions can only be withdrawn by the employee at the time of his/her retirement, barring a few exceptions.
  • All employers having PF registration are responsible to file returns monthly.


Important Points relating to Provident Fund:

  • PF Return: Provident fund return must be filed by all entities having PF registration every month. PF return is due on the 25th of each month. Further, a final PF return is due on the 25th of April for the year ended on 31st March.
  • PF Payment: Provident Fund (PF) payments are due on the 15th of each month. The employer must deposit a total of 12% or 10% of the employee wages towards PF on or before this date every month. For most entities, the PF rate of 12% would be applicable.
  • UAN: The Employee Provident Fund has launched the Unified Portal to streamline and simplify all aspects of provident fund for both employers and employees. Employees who have the newly allotted UAN can use the Unified Portal for various services.


Details required for PF return

  • Account number.
  • Name of employee.
  • Name of the father or husband.
  • Date of leaving service.
  • Reason for leaving service.

Consequences of late EPF return filing

Delay in the deposit of P.F. dues attracts penal damages. Damages are levied at the following flat rates:

  • Delay of 0 to 2 months– @ 5 % p.a.
  • Delay of 2 to 4 months – @10 % p.a.
  • Delay of 4 to 6 months– @ 15 % p.a.
  • Delay more than 6 months – @ 25 % p.a. (subject to a maximum of 100%)


File error-free PF Returns and in-time. File your PF returns through experts Srifintax. Prices start at INR 699/- only.

ESI Registration

Employee State Insurance Corporation or ESIC is a self-financing social security and health insurance scheme which provides medical benefit, sickness benefit, maternity benefit and various other benefits such as funeral expenses, free supply of physical aids etc. to the employees and their family.

Any factory or business establishment having 10 or more than 10 employees, irrespective of salary, have to register with ESIC. ESI contributions must be made for all employees having a salary of less than Rs.21,000 per month. Employees with less than Rs. 21,000 monthly wages get health and sickness benefits through this statutory scheme. The state government also contribute 1/8th share cost of the medical benefit.

Who needs to register for ESI? (What establishments needs ESI registration?)

  • Shops
  • Hotels or restaurants not having any manufacturing activity, but only engaged in ‘sales’
  • Cinemas including preview theaters
  • Road Motor Transport Establishments
  • News paper establishments
  • Private Educational Institutions (those run by individuals, trustees, societies or other organizations and Medical Institutions including Corporate, Joint Sector, trust, charitable, and private ownership hospitals, nursing homes, diagnostic centers, pathological labs)

Who needs to register for ESI? (What establishments needs ESI registration?)


Currently the employee’s contribution rate towards ESIC (w.e.f. 01.07.2019) is 0.75% of the wages and that of the employer’s is 3.25% of the wages paid/payable in respect of the employees in every wage period.
However, this rate keeps on changing from time to time.

Contribution Period and Benefit Period


There are two contribution periods each of six months duration and two corresponding benefit periods also of six months duration.
ESIC registration is a statutory responsibility of the employers of the factory. It is mandatory according to the rules and regulation of the ESI Act 1948.

Benefits of ESIC registration

  • Medical Benefit
  • Disablement Benefit
  • Sickness benefit
  • Maternity benefit
  • Dependant’s benefit
  • Unemployment benefit


Extend medical benefits to your employees. Register for ESIC. Prices start from INR 5999/- only.

Labour Law Compliance

Payroll Structuring

Get Expert assistance for payroll structuring to ensure you maximise tax-savings for your employees while also remaining compliant under various Central and State level labour law regulations.

Documentation

Get Professionally crafted HR documents like offer letter, appointment letter, employment contract, payslips, confidentiality agreement and more. Get a well defined HR documentation system and process in place.

TDS Compliance

TDS deduction on salary is mandatory for all employees earning taxable income. The employer is responsible for TDS deduction and TDS filing. We take care of computing TDS and filing TDS returns.

Form 16 Issuance

Any person responsible for deducting tax at source (TDS) from salary is required to issue Form 16 in the prescribed format to the employee at the end of each year. We will prepare and issue Form 16 for all employees.

Income Tax eFiling

Employees earning taxable income are required to file income tax return each year. We offer free Income Tax eFiling for all employees enrolled in your company. We will also assist them with any tax compliance questions.

Provident Fund

Provident Fund is applicable for all employers in India having more than 20 employees. Employers required to comply under PF regulations must deduct PF from employees, make the requisite contribution and file PF returns. We will assist with PF compliance.

Employee State Insurance

Any factory or establishment employing 10 or more persons drawing wages of less than Rs.21,000 per month must obtain ESI registration and comply with ESI regulations. We will assist and ensure compliance under ESI regulations.

Professional Tax

Professional Tax is a tax levied by the State government. Professional tax is levied on income however earned in any trade and is usually paid by the employer. We will assist and ensure compliance under the relevant State Professional Tax regulations.

Our Pricing

Starter

All Inclusive Pricing

2999

  • Includes all features required to grow a micro business
  • Upto 10 Employees
  • Attendance Management
  • Payroll Processing
  • Form 16 Issuance
  • TDS Filing
  • Payslips
purchase

Professional

All Inclusive Pricing

4999

  • Includes all features required to grow a small business
  • Starter Package
  • Upto 20 Employees
  • Employee On-boarding
  • ESI Compliance
purchase

Enterprise

All Inclusive Pricing

7999

  • Includes all features required to grow a medium business
  • Professional Package
  • Upto 30 Employees
  • PF Compliance
  • Exit Management
purchase

Frequently Asked Questions

Businesses outsource their payroll management as it helps save time and effort. Payroll outsourcing also reduces the necessity of having a trained team in-house. Companies also get the services of professionals who have ample experience and expertise in payroll management.

There are many factors that will determine the cost of payroll outsourcing. We recommend you call or visit us for a consultation. Based on your requirements and employee count, we will give you a quote for payroll outsourcing.

No, there is no limit to the number of employees on the payroll. We work with organisations of all sizes..

Call us at +91 8897288511 (IN) for more information about our payroll outsourcing services in Hyderabad.

Yes, we also offer payslip generation services as a part of our payroll outsourcing services.

Are you ready to start your business?