Human Capital Management (HCM) Platform

Change HR to emphasise on strategic initiatives, force cost optimisation strategies, and lessen administration effort by leveraging technology-enabled business flow servicing solutions by using Megasoft’s Human Capital Management (HCM) platform.

The Platform

Megasoft’s HCM Platform is a managed as well as hosted solution that proffers complete functionalities to handle HR transactions throughout the hire-to-retire lifecycle of an employee. The platform is provided through Software-as-a-Service (SaaS) model. Uniting its abilities in technology, infrastructure management, and worldwide delivery, Megasoft proffers a single point of ownership solution as well as service level agreement (SLA) driven services.

Our Solution

Megasoft’s HCM Platform offers a wide range of functionalities and services in the fields of workforce administration, learning administration, payroll, performance management, time management, recruitment, and compensation.  

HCM Platform

India Payroll Solution: Megasoft’s HCM Platform proffers on-time as well as precise payroll processing services. The solution offers complete functionalities to support make to gross, gross to net, and post payroll activities. The solution is acquiescent to India’s Income Tax laws. The solution comprises of a declaration of investments, statutory reporting, payroll inputs interface, payroll processing, salary JV interface, processing of claims, bank file generation, annual payroll processing, and full & final settlements.

Megasoft Benefits

• Enhance compliance and control
• Enhance capability to scale and escalate with other functions
• Better visibility into HR operations with improved reporting abilities
• Conversion within given timeframes with minimum disturbance to BAU
• Operational brilliance in HR administrative activities via a shares-service model
• Augmented automation of procedures with an improved self-service ability of end users

Megasoft Advantages

• Single point of responsibility
• Enhanced competence in business operations
• A worldwide as well as scalable solution for deploying standardised HR procedures, organization-wide
• Swift transformation as well as deployment onto pre-configured procedures based on industry best-practices

If you may seek any further information, please log on to www.megasoftsol.com or Call 011-46067710

Disclaimer: This Blog/Information/News Item/Press Release has been Posted/Reposted by Megasoft Solutions India.

How To Save Money On Payroll Processing

Several business owners use payroll services to efficiently handle their businesses as well as employees. Outsourcing payroll services are very significant via it is deemed to be the biggest expense that is linked with the operation of business. What makes the payroll rates to go elevated or to take the lion’s slice are the employment taxes as well as wages. Thus, payroll processing is another expense and could be impactful to the bottom-line of your company. Do not avoid payroll services even if you have a petite or large business because with these services you could be capable of knowing where you are heading to. Do you know that you can diminish administrator rates which are used in payroll processing even if you have more than five hundred employees? If you suspicion here are few of the ways in which you can save money on payroll processing.

Ensure You Have Accurate Data

The demographic data that business owners or managers gather from their workers is very important and facilitates in the processing of payroll. Demographic data comprises information such as address, date of birth, and any other crucial information about your employees. Furthermore, we all know that time is money and consequently when you have all these data or information it would be simple for you to know how to route your payroll without any hassle.  

Take An Inventory

To finish processing a payroll is not a simple thing unless it is done by specialists/ experts/ professionals. There are manifold forms as well as steps engaged and needs of tax in the payroll processing. You can manage your payroll services by your own or look for a proficient team member to support you in taking stock of the payroll. Make sure you get the precise picture of your employees’ records so that it could be simple to process payroll and any other critical information. Mainly business owners use payroll services to efficiently handle their businesses as well as employees. Megasoft Solutions is the best payroll service provider in India since it proffers utmost quality services and at reasonable rates.

Understand The Compliance Requirements

Compliance needs linked with the payroll diverge from one state to another and thus, it is significant for you to make sure that you obey with the legal needs particularly on the tax laws. Few of the things that are comprised of payroll processing are wage adjustments, generating tax payments, salaries, commissions, paying bonuses, and other related. Also, there are few potential deductions, which must be complied with in the processing of payroll.

Think Outsourcing

In any business, whether it petite or large, it is essential if you outsource few HR administrative functions comprising of payroll processing services. Outsourced employees must be proficient as well as professional since they are doing a very significant business function. Finishing tax forms is another essential thing that all payroll service providers agreement with and they must be precise in completing tax forms as well as paying the employees taxes timely to evade redundant fines. In conclusion, outsourcing payroll from experts is very significant to your business because it could make your business to nurture and escalate.

If you may seek any further information, please log on to www.megasoftsol.com or Call 011-46067710

Disclaimer: This Blog/Information/News Item/Press Release has been Posted/Reposted by Megasoft Solutions India.

6 Things To Look For In A Personalized Payroll Company

Several payroll providers proffer the similar services in expedient, one-size-fits-all package: tax obligation management, payroll processing services, and government-mandated report generation, etc. Certain, mainstream payroll management is what separates payroll companies from, say, marketing agencies, law firms, and IT companies. But mainstream payroll management isn’t what separates best payroll companies from the top payroll company.

So, how do you land that India’s leading Payroll Company for your business?

You require differentiating between substandard payroll management as well as remarkable team solutions that take care of all your company’s requirements. You require searching a payroll company that keeps your payroll personalized.

When finding for a personalized payroll cohort, ask the subsequent questions to assurance you’re getting the payroll solutions that coerce your business successfully.

1. How secure are your payroll services?

With the dawn of Software as a Service (SaaS) models, payroll companies are now cable to proffer simple access to your payroll data without containing important security. SaaS providers centrally host your significant payroll data on secured servers, and frequent have physical backup stations in the event of usual or man-made disasters.

Ensure your payroll provider is a reliable SaaS provider and assurances the security of their online servers. This means surrendering limited authorization to your employee data, imposing passwords of the maximum strength and guarding network access points with superfluous firewalls.

2. Do you own your own payroll processing system?

Many companies which own their own payroll systems are able to handle everything from system enhancements to the data security. Also, this means that they are not reliant on a system vendor for essential updates as well as improvements.

3. Do you offer innovative workforce solutions?

The HR (human resources) division – all the team entanglements as well as administrative saddles that come with the territory – poses a challenge for each business. You need to understand exactly where your workforce’s time and your company’s dollars are being spent to lay the underpinning for your business long-run success.

Whether you are mounting and need to employ new employees or you have merely filed your first unemployment claim, ensure you’re armed with expert advice as well as creative solutions from that customized payroll provider to flawlessly navigate these issues.

4. Are your services SSAE 16 Type II-compliant?

When it comes to choosing a payroll company to manage your essential information, you should be confident in the soundness as well as legitimacy of their operations. This is why; it is vital to cohort with a payroll provider who is completely compliant with the SSAE16 attestation standard and who has been issued an SSAE 16 Type II report.

What actually does this report means? If any payroll provider is SSAE 16 Type II-compliant, it means they have undergone a wide and severe auditing procedure. It means their operations are sound as well as legitimate. It validates their payroll data protection and underlines their dedication to constant security enhancement.

5. Do you believe in the partnership model?

The top payroll companies know that partnerships are the chief to success. Look for a company that works meticulously with brokers, accountants, bankers, and other professional associations. These associations permit them to offer a multiplicity of value-added services to their clients.

6. What do your clients think of your services?

Simple logic: If their customers are pleased, they should be doing something correct. Simple logic. Keep a vigil eye out for companies with client retention and pleasure rates above 90%.

With more time as well as resources to dedicate to your business, outsourcing your payroll just make sense. But before creating the switch, ensure that you are making it with the appropriate payroll provider: the one who offers outstanding team solutions, customized payroll programs, exceptional client services, sound operations, and high-level data security.

If you may seek any further information, please log on to www.megasoftsol.com or Call 011-46067710

Disclaimer: This Blog/Information/News Item/Press Release has been Posted/Reposted by Megasoft Solutions India.

Five Important Questions To Ask Yourselves Before Selecting The Payroll Management System

Why is payroll management very significant? How to organize and get ready an accurate payroll? Should I go for payroll outsourcing management services or should I use payroll processing management system? On regular basis, we ask ourselves all such questions wherever payroll processing is concerned.

Before picking a payroll processing management system or a payroll outsourcing services ask yourselves all these questions. These queries will assist you in comprehending your exact requirement and will enable you to take the correct decision.

Ques.1 What is it that you require a payroll processing management system to do?

A payroll management system should be capable to compute payroll as per the frequency ser according to the payment methods set. It should evaluate & compute tax and make automatic deductions completely based on entries filed. Filing of taxation is of huge significance because in case of default the organization can face rigorous penalties. Along with this, it should be capable to make reports linked with payroll processing.

Ques.2 What to expect from payroll outsourcing services?

Payroll services from an expert professional provides you a chance to take your mind off from non-core as well as labor intensive activities such as payroll management and channelize you energy on more significant matters. Payroll outsourcing service providers provide committed and real-time solutions for all your questions.           

Ques.3 Advantages of payroll outsourcing services?

Outsourcing service providers provide a best deal of advantages such as committed manpower, well-organized processes, correct documents pertaining to TDS and other related compliances, better turnaround time and swift resolution of questions as well as issues.

Ques.4 Cost Advantage of both?

One has to compare the cost included in buying a payroll processing system or for acquiring payroll outsourcing management companies. Cost included in payroll processing system will be in terms of price of buying the software, cost of handling a team, and infrastructure set-up cost. Though, the outsourcing service provider already has a current sophisticated infrastructure setup, with work force and necessary software’s etc.

The management has to take a decision, which price is low and which has more advantages attached to it at the specified cost.

Ques.5 What perfectly suits your needs and requirements more closely?

Based on the needs and requirements, management has to take a decision which selections proffers more advantages as both selections has its own merits as well as demerits.

Answers to these above stated five important questions will facilitate you to decide what is strictly related to your requirements and what will be helpful for your organizations. 

Forget worrying about payroll management and emphasize completely only on the productive activities of your business. Now, get ready a payroll which is error free and 100% correct with best payroll processing management system. Megasoft Solutions is a leading payroll outsourcing services provider for accurate and efficient payroll management.

If you may seek any further information, please log on to www.megasoftsol.com or Call 011-46067710

Disclaimer: This Blog/Information/News Item/Press Release has been Posted/Reposted by Megasoft Solutions India.