PAY ROLL AND HR AWARENESS SESSION

HUMAN RESOURCE

HRP( Human Resource Planning) Recruitment and Selection Joining Facilities Term of employment Working hours Leave policy Compensation & Benefits (Payroll Management) Termination of contract Exit interview

Over view of IT Industry

IT is the area of managing technology and spans wide variety of areas that includes things such as processes, computer software, information systems, computer hardware, programming languages, and data constructs with right utilization of available Human Resource

IT provides a number of low-cost business options to tap higher productivity with dedicated work force / human resource.

True globalization means Collapse of geographic boundaries which made world a 'global village‘ and the role of committed personals.

Cheaper technology with higher earning possibilities.

MET TECHNOLOGIES PVT. LTD.

Met-Technologies is a global service provider delivering technology driven business solutions that can fulfill the strategic requirements of their clients spread all over through a committed group of work force.

Managing their operation through latest available technologies.Spreading it’s wings in Indian and abroad.Is at the take off stage.Cherish and nurture their values and interactions with all their employees and clients. They have high regards for individual value which creates a transparent atmosphere ensuring outstanding teamwork and rapport built up within the company.

Is looking towards improved, long lasting, value added employees-employer relationship.Going to offer Employee centric beneficial programmes.

BENEFITS OF OUTSOURCING PAYROLL – I

Personalized & Professional Services.

Single Point Contact Agency & Full Confidentiality.

Strict adherence to Timelines in Payroll Processing, Payments of Taxes, Furnishing of Reports to the Management.

High level of internal controls to minimize the chances of errors.

Cost Control & Defined Costs.

Continuity of Services. Best business practices

will be applied. The services are offered in

such an arrangement that the client needs to spare minimal resources for payroll administration.

BENEFITS OF OUTSOURCING PAYROLL – IThere are several benefits to outsourcing the Payroll Process to a third party

vendor like us.

A cost-effective & accurate solution for payroll management.

Zero Software maintenance cost.

No need for employing staff and reserving infrastructure for payroll management.

Savings in cost for updating the payroll system as per the management requirements or for additional reports required in different formats.

Planned time schedule for monthly payroll processing that is strictly followed to ensure timely payments to employees.

No additional cost for appointing Tax consultants and Software programmers to implement the tax amendments in the Finance Bill every year.

Management can concentrate on their core activities.

Benefits of Outsourcing HR Activities

Enhance effectiveness by focussing on what you do best.

Increase flexibility to meet changing business conditions.

Obtain expertise, skills, and technologies that would not otherwise be available.

Acquire innovative ideas in the HR domain.

Reduce investments in assets and free up these resources for core competencies.

Gain market insights in HR through the outsourcing partner’s network.

Accelerate expansion by tapping into the outsourcing partner’s developed capacity, processes, and systems.

Reduce costs through outsourcing partner’s lower cost structure.

Increase commitment in non-core areas of employee benefits without increasing costs.

BASIC SERVICES Some of the basic services we offer to all

our clients are

Generation of Employee Pay Slips providing details of Allowances, Gross Salary, Deductions & Net Pay.

Preparation of Salary Registers & Bank Payment Registers.

Processing Voucher Payments that do not form part of the payslip.

Processing Increments and calculating Arrears with retrospect effect.

Maintaining Employee Master Details like Grade, Dept., PAN No., PF No., Bank A/c No., CTC, etc.

Additional payments based on Overtime Sheets.

Full & Final Settlements. Maintaining investment records

of Employees under section 80C, 80D, 24(1), etc.

Maintaining Leave Encashment & LTA records.

Tracking Reimbursements under heads like Medical, Telephone, Fuel, Vehicle Maintenance, etc.

Computation of TDS based on Allowance and Deduction heads & investments.

ADVANCED SERVICESAdding to the basic services, is an advanced set of services that we offer to our clients which include :

Preparation of database files to be submitted to banks for direct credit of salary via ECS facilities.

Maintaining leave records under each head of Privilege Leave, Casual Leave & Sick Leave.

Preparation of Lunch Coupon report for clients who disburse these coupons to employees as part of the package.

Cost to Company report that provides not only salary details but also the other costs incurred by the company on account of the employee.

Incorporation of Company/Registration of PF,ESIC,PT,TAN,Service Tax.

Files for uploading Payslips & Tax Projections onto the Intranet.

STATUTORY SERVICES Statutory services provided as per government regulations :

Preparation of Provident Fund Registers for filing as per Form 12A,Form 5 & Form 10.

Preparation of Employee State Insurance records / challans / returns..

Preparation of Profession Tax summary for filing as per Return-Cum-Challan format.

Computation of TDS (Income Tax) and preparation of Income Tax Summary Statement.

Preparation of e-TDS returns on a Quarterly basis.

Preparation of Form 16 and Form 12B for each employee on an Annual basis.

.

Stepping stones towards Employee Recognition

Better facilities and compensation for self and Family. Future Security. Employees Rights and Responsibilities under wage

laws. Employee Recognition . Long term employees benefits like Old Age

/Retirement Benefits.

HR SERVICES – I Maintaining the process flow of HR Administration that would include:

Issuing Appointment Letters to prospective candidates with an intimation of the Date of Joining.

The CTC structuring that ensures maximum tax benefits to the employees as per the prevailing laws and without adding any extra liability on the company.

Designing the Employee Handbook as per the guidelines provided from employer side.

Employee life cycle management that would guide on maintaining all documents and processes associated with employees throughout their employment with the organisation.

These would include Letters of Intent, Appointment, Confirmation, Appraisal letters, letters of Termination, and Relieving letters.

A dedicated staff appointed at our end to ensure the records are updated and letters issued within 48 hours of our receiving intimation from your side.

HR SERVICES - II Completing the Joining Kit Formalities for New Employees that would include:

Filling out the Personnel Information Sheet Designing the salary structure as per the

designated CTC Collating documents required for the

purpose of opening a Salary Bank Account, PF Account, ESIC Account (if applicable).

Collecting all other necessary documents such as PAN copy, Experience Letters, Investment Declarations, Detailed CV, etc.

The Inputs / Receivables Attendance : Repayment, Deduction & No Pay. New Joinees : Master Details, Salary Structure, Joining

Date, etc., Overtime : Number of Hours worked as overtime. Increments : New Allowance & Deduction Details, with

Effective Date & any other Master details changed. Investments : Details of Amounts put in Tax-Saving

Investments. Resignations : Full & Final Settlement Workdays,

Separation Voucher Payments, Recoveries & Investment Proofs.

Reimbursements : Medical, Telephone, Conveyance, etc. Ad-Hoc Payments : Incentive, Ex-Gratia, Bonus, Leave

Encashment, Leave Travel Allowance, etc. Ad-Hoc Deductions : Advance, Society, Canteen, LIC, etc. Loans : Sanctioned Amount, Rate of Interest, Installment

Amount, Statutory Rate of Interest.

The Outputs / Deliverables - I

Monthly Reports

Salary Register and individual Payslips providing details of Basic, all Allowance Heads, Gross Salary, Deduction Heads & Net Salary.

Bank Payment Register giving details of payments along with employee account number and bank name. This can also be provided in a bank-approved database format for ECS transfer.

Full & Final Settlement report that gives details of the employees resigned for the month and their final settlement amounts.

Provident Fund Register with an accounting break-up as per statutory laws.

Preparation of Employee State Insurance payments as per government directives.

Summary report of the Profession Tax paid as per statutory regulations.

Preparation of Income Tax Deduction list.

The Outputs / Deliverables - II

Monthly Reports (contd…)

Cost to Company Report Department-wise / Project-wise / Location-wise.

Leave Balance Report. Loan Details Register and Advance Recoveries. Net Pay Report. Lunch Coupons Report. Management Reports. Tax Summary Report. Payslips upload which can be directly

uploaded on the website / Intranet of the company.

The Outputs / Deliverables - III

Financial Year Reports Preparation of Statutory Bonus Report for

employees eligible for an Annual Bonus as per the Bonus Act.

Summary of Tax Deducted from the payslips as well as from the voucher payments made to employees for the year.

Month-wise break-up of the earnings and deductions of each employee for the year.

Employee details for the purposes of computation of Leave Encashment.

Form 16 as well as Annexure to Form 16 for each employee which provides details of annual salary, exemptions, tax-saving investments, and tax deduction.

Form 12B for each employee giving details of earnings.

INVOICE GENERATION Salary HRA Other Allowance PF ESIC P Tax Invoice will be raise on the basis of the Consultation Fees withService Tax which will be as per the Government Rule i.e.

10.3% of the Invoice value.

End of the month/before two days of the salary payment day of the company CMC will raise the Invoice for your final settlement / Approval.

The Payroll Process Flow ChartConcept Marketing &

consultancyThe Client

Send Payroll Related Papers

Process the Payroll Documents

Send Payroll Check List

Verify & Validate the Check List against the Data received

Upload Employee Investments& Process TDS

Send Net Pay, Payment Registers & Bank files

Send Set of Monthly Reports PF, ESIC, CTC,PT etc.

Send Management Reports for Uploading into Accounts

Validate the Check List against the Data sent

Credit Salaries toEmployee Accounts

ClarifyDoubts

Receive Information & Reportsfor Further Processing

The Client

Quality Controls

A structured set of procedures with check lists is used at every step of the payroll process.

Extensive and elaborate edit checks and controls in place to ensure accuracy of data processing.

The concept of Maker and Checker is followed for the entire process.

Apart from internal checks, a copy of the checklist is sent to the client as well, for their scrutiny and approval.

All the transactions are printed on paper for an audit trail.

All the paperwork is systematically filed and archived.

Labour Law Compliance

We assist with compliance of various statutory regulations as well as filing of returns as per the following Acts : The Employees Provident Fund Act, 1952 The Employees State Insurance Act, 1948 The West Bengal State Tax on Professions, Trades,

Callings & Employment Act, 1975

BENEFITS at a Glance

Employee will be eligible for Employer's Contribution To PF as per the Rules

All associates whose gross monthly salary is less than that of 15000/- will be covered under ESIC.

Better facilities and compensation for self and Family. Future Security. Employees Rights and Responsibilities under wage laws. Employee Recognition . Long term employees benefits like Old Age /Retirement

Benefits.

Allowances, incentives, bonuses and reimbursements are based on organizational policies. Some organizations provided the allowances on a fixed rate say 10% or 12% of the basic salary. Some organizations go for performance based incentives.

PAYROLL STRUCTURE

Rational fixation of salary, Bonus, Incentives, leave benefits etc

PF Benefits ESIC Benefits Leave Benefits Professional Tax Income Tax

Provident Fund Benefits

A part of your salary is deducted every month and deposited on your behalf which is having a long term recurring benefits to you and your family with a long term umbrella coverage.

Main stream employment. Latent savings Recurring high Interest rate Employers contribution Loan Facility. Voluntary Contribution Pension Benefits Withdrawal Benefits Death Benefit

ESIC

ESIC-Employee’s State Insurance Corporation

IP-Insured Person

ESIC Pehchan Card

Medical Benefit

Dependants’ Benefit (DB)

Slab of Contribution

SCHEME EMPLOYEE’S EMPLOYER’S TOTAL

ESIC 1.75% 4.75% NIL

SCHEME EMPLOYEE’S EMPLOYER’S CENTRAL GOVT’S

Provident Fund Scheme

12% 13.61% NIL

P. Tax SLAB RATE P. Tax SLAB RATE

3001-5000 30 /month 8001-9000 90 / month

5001-6000 40 /month 9001-15000 110 / month

6001-7000 45 /month 15001-25000 130 / month

7001-8000 50 /month 25001-40000 150 / month

PF DEDUCTIONS

Employees Contribution:

12% of the Basic+DA.

The Employees however .contribute if he so desires, an amount exceeding the prescribed percentage of his basic wages,DA, if any subject to the condition that the employer shall not be under an obligation to pay contribution Over and Above his Contribution payable under the Act

Employer’s contribution:

13.6% Basic +DA

This is paid as follows:3.67% EPS( Employees Pension Scheme)+0.50% EDLI( Employee Deposit Linked Insurance Scheme) other Admin Charges.

TAX ESSENTAILS FOR INDIVIDUALS (in Rs)

General Tax Payer0 to 1,80,000= No tax1,80,001 to 5,00,000 = 10%5,00,001 to 8,00,000 =20%Above 8,00,000=30% For Women0 to 1,90,000= No tax1,90,001 to 5,00,000 = 10%5,00,001 to 8,00,000 =20%Above 8,00,000=30% For senior citizen (Age 60Yr but less than of 80Yrs)0 to 2,50,000= No tax2,50,001 to 5,00,000 = 10%5,00,001 to 8,00,000 =20%Above 8,00,000=30% For Very senior citizen Above 80yrs0 to 5,00,000= No tax5,00,001 to 8,00,000 =20%Above 8,00,000=30%

CONCEPT MARKETING & CONSULTANCY

Helping Hand in HRM

"WE LIVE IN TODAY BUT THINK OF TOMORROW“Abid Khan

Yashoda Thapa

(CMC Team)

PAY SLIPS

Salary Slip\MET Salary slip For 2011-2012.xls

ATTENDENCE SPREAD SHEET

Payment\Revised - MET Salary Structure.xls

Company Profile

We “CONCEPT MARKETING & CONSULTANCY” was incorporated in May 2008 with the aim to outsource the non-core activities of corporate clients and to render HR related solutions.

CMC are present in the domain of Payroll Management for the past 4 years.

CMC have a dedicated division that has expertise in managing Payroll Operations for corporate.

The company uses top end technologies, highly qualified manpower & best business practices to provide high quality services to the clients.

Payroll processing is CMC core competency.

We assure that we will provide timely, accurate, confidential, and a high technology based service with adequate human interface to you at all times.

We look forward to forming a long & mutually beneficial association with your esteemed organization.

THANKING YOU