What is payroll management ?
Payroll Management System is one of the most important function of an organization .It works on compensation of employees which contains attendance and leave management , advances , loans, bonuses, tax deductions, stat .compliance in accordance with organization policies. Apart from distributing pay checks to the employees, salary also consumes a lot of time in the areas of payroll management , such as, calculating tax deductions, statutory compliance.
Every time flipping through numerous files to respond to the employees queries is again a time consuming task . Employee for whom monetary salary is the only source of income , imagine what if the salary is not paid accurately or delay in releasing salary .Such irregularities can take a toll on the morale of the employees and ultimately affect the business productivity. While ensuring accurate and timely payment is important , adhering to the various laws and regulation such as labour law, PF, P tax , and other statutory compliance is also critical . Non- adherence with these laws can attract serious legal and financial consequence. To make sure that your employees are happy and you are law compliant , you need to have a proper understanding of what is payroll and how to run payroll effectively.
Term ‘payroll‘ may refer to the workers in a company, plus information about them. It might also refer to the amount of money the employer pays its workers. We often use the term when we are talking about the process of calculating workers’ pay and taxes. I am doing payroll.” … Key benefits of a payroll management system term ‘payroll‘ may refer to the workers in a company, plus information about them. It might also refer to the amount of money the employer pays its workers. We often use the term when we are talking about the process of calculating workers’ pay and taxes. I am doing payroll.” … Key benefits of a payroll management system
The payroll management process , in a nutshell , refers to the process of administration of a company ‘s employees financial records . This should details of the employees salaries , incentives ,bonuses. deductions and net pay. Payroll destination can’t be complete without given description of gross payments ,gross deductions and actual net payout to an employee in a calendar date and noted that these payments and deductions can calculate according to rules and laws which may be differ organizations to organizations and state to state. Payroll can be a means to empower employees and strengthen their relationship with the company. Being paid on time correctly and transparently is intrinsic to the way employees perceive their employers . When payroll information is accessible on demand ,there will likely be fewer queries and any error can be identified sooner by employee.
What is the use of payroll management ?
The payroll management system is a set of process that helps you steamline salaries, bonuses, deductions, taxes and other necessary aspect of net pay and all the employees of your organization. Payroll Management refers to the process by which an employer maintains the salary of employees. It is the administration and management of staff’s
financial reports. It can include base salary, allowance,bonuses,incentives, deductions,PF contribution, and net pay.
WHAT ARE STAGES TO PROCESSING PAYROLL?
A payroll officer needs to do careful planning. There are always ongoing tasks that needs attention and a constant need to monitor changes to withholdings, contribution to social security funds ,etc. The entire process can be spilt into three stages , pre- payroll, actual payroll and post payroll activities.
A payroll PROCESS needs to do careful planning. There are always ongoing tasks that needs attention and a constant need to monitor changes to withholdings, contribution to social security funds ,etc. The entire process can be spilt into three stages , pre- payroll, actual payroll and post payroll activities.
Key benefits of a payroll management system
There are several benefits of implementing a service like this for your business. Some of them have been briefly highlighted below:
- Employee morale – By making sure your employees are paid in a systematic and timely manner, you are reinforcing their faith in your business’ financial integrity. This will boost employee morale and motivate them to perform better.
- Statutory compliance – This refers to the legal framework your business must adhere to. As an employer, you are required to maintain various payroll and payment records of your employees. Every organisation that hires employees and pays salaries must comply with the labour laws. By having a payroll process in place, you are automatically complying with the employment and labour laws in India.
- Manage employee information efficiently – You will be able to accurately store and manage all your employee information in one place. There will be no need to use any additional tool for this purpose.
Core components of payroll processing in India
- SALARY
- GRATUITY
- Housing Rent Allowance (HRA)
- Dearness Allowance (DA) – Subject to the city of employment
- Special allowance
- leave Travel Allowance (LTA)
- Maternity leave
- ESIC
- Provident fund
- TDS
- P.TAX
- BENEFITS etc
What is payroll management course?
The course covered time tracking, payroll processing, procedure, controls and record- keeping .The course also address the Indian payroll regulations and reporting requirements related to compensation, benefits, payroll taxes, and tax remittances. Payroll management courses shows the accountant how to improve the functions of payroll department, enhancing efficiancy and reducing error rates. Topics covered include time tracking ,payroll processing ,procedure ,control and record keeping.The course also addresses the Indian payroll regulations and reporting requirements related to compensations ,benefits ,payroll taxes, and tax remittence It is updated annually for the latest payroll regulations. Payroll Management is idel for anyone new to payroll , or who wants to enhance an exiting system. Earning your payroll certification helps you demonstrate your expertise , advance your career , and enhance your standing within the profession …… set yourself apart from colleagues within payroll profession . Make yourself more valuable to your organization through professional competency and credibility.
PAYROLL TRAINING OVERVIEW.
THE INSTITITUTE OF PAYROLL TRAINING AND MANAGEMENT
In this course your skill will increase to use payroll programme confidently , you can process any business payroll. Training helps the business conform and employment legislation and data security requirements. lastly , payroll plays the key roll in any organization. So, career in payroll helps you , specialising in a niche field and excellent oppurtunities to touch the sky with a fair amount of income opportunities.
The Institute of Payroll Training and Management popular as IPTM ,Noida was started journey in 2007 , to help students to provide professional education , skill development and training for payroll processing and statutory compliance and direct taxation and certified students as “Payroll Professional” to get opportunities in professional world – in service world and in business. Iptm- helps students to learn payroll from beginning to end . Expert and professional teachers help them to learn end to end payroll processing.
The motto of the institute LEARN, DEVELOP, UPGREAD, GROW, very clearly layout the path for professional growth with slogan “payroll is my passion”.
The institute specializes in developing and updates new areas in professional growth and skill development and delivering them through their unique courses. The institute develops the courses right from concept, develops industry focused/ need focused curriculum and innovative course delivery models, keeping in mind a working professional and new entrants in the profession.
OUR MISSION
We provide career – oriented and professional payroll training of Indian statutory compliance and direct taxation and give certificate to the students , so that they step into the world as payroll professional, The Institute provide both online and off – line courses , with modern chartered environment with the best online training experience from beginning to end:
To provide certified payroll Professional in organization.
To Help every organization to hire or recruit certified member.
To have students every organization in India.
THE INSTITUTE HAS A GREAT VISION
Being a top ranking payroll institute of choice for students , stuff and corporate, recognized for excellence in payroll Training and certification with the slogan of the institute “The fastest and easiest way to learn Indian payroll and statutory compliances”
INSTITUTE HIGHLIGHTS AND ACHIEVEMENTS.
India’s most preferred institute by the students and working professionals even corporate and excellent experience of long journey from February 2007.
> Classroom learning provides structure and motivation.
>Develop a common payroll language that will optimize efficiencies , avoid costly mistakes and save money.
> Ideal for payroll practitioners and those supporting the payroll industry.
> Providing keep up to date knowledge based for experienced payroll professionals.
> Provide knowledge and skills which required to run advance payroll processing.
ALWAYS ONE STEP AHEAD
The Institute of Payroll and Management popularly known as IPTM was established in 2007 , since then then the institute providing professional education, skill development and training for payroll processing and help students and working people to be certified , so that they can utilize they power of knowledge of payroll processing and statutory compliance and stay one step ahead than other .
REGISTERED OFFICE AND CHAPTERS
The institute is located in NOIDA-Uttarpradesh(Delhi/NCR) , and has more than 10 chapters in all over india.
MUMBAI
DELHI
KOLKATA
CHENNAI
BANGALORE
JAIPUR
AGRA
BHOPAL……..
What We Do
IPTMis India’s first corporate training and skill development education institute and providing Training in management and Technical skill.
Specialization – payroll.
Indian Payroll Processing .
Indian Statutory compliance.
PAYROLL TRAINING
CLASSROOM TRAINING
Classroom learning provides structure and motivation.
online learning .
choose the self – directed or online instruct -assisted format.
self- study.
IPTM self- study workbook teaches you all essential aspects of usinf excel and payroll software on a day- to- day basis.
self paced training- online .
Are you like the convenience of learning from your own desk, when you need it ? Self- paced training is for you only. providing ability to learn when you are in learning mode, and make you to be as professional as possible.
OUR PARTNERS.
PARTNERS WITH INSTITUTE.
We constantly look for people , who always wanted to contribute through their experience , while making a good business sense.
Our mail id –
Email: iptm.india@gmail.com
LIST OF OUR PARTNERS
- Ninety -Nine Excel Training Academy.
- Heyparth Consulting Services.
- Justoncall Services Pvt Ltd.
- PAYNITI service
IPTM PROVIDES FOLLOWING PROGRAMMES.
- Payroll Training Programme.
- Practical workshop on payroll processing .
- Certified Payroll Professional.
- Human Resources Recruitment training.
- In- House (Campus – Corporate ) Group training.
Faculty @ IPTM.
IPTM faculty members are active and regular participants in international conferences and practice in payroll. They contributes to international journals and collaborate with a broad range of agencies to develop and execute consultancy projects.
Mr. Ajit Kumar having more than 12+ years of experience in payroll. He is a young payroll professional and associate to public sector in service/education/digital industries. Mr. A Kumar is a renowned personality amongst the followers of Indian payroll Training and Management profession. He has been on the faculty of iptm for addressing corporate seminars / training on payroll management study at various places.
MANAGEMENT AND TEAM
Mr.A.K .Yadav
Mr. Vikash Maurya – Client HR Operations & Marketing.
Ms. Ruchi Dwivedi- Recruitment Training Partner.
MR. Andy Yadav – Client Partner & Recruitment
Mr. Utkarsh Sharma -Consultant & Facilitator.
Mr. Satish Chand – Facilitator & Advisor- india
Mr. Sandeep Kumar – Facilitator & Marketing .
CA Nitin . Khandelwal – F& A
CA Shekhar Sankar – Corporate Trainer
PAYROLL BOOKS :
THE ESSENTIALS OF PAYROLL MANAGEMENT
PAYROLL PEDIA READY RECKONER
The books are “user friendly” and will be found useful by any and everyone dealing with payroll and HR. The books also contain details table, tax rate and formulas, excel formulas and other rates of formulas. SOLID refarence and coverage of all the information that the payroll professional require in their day to day practice.
Helpline timing : 10 am- 8 pm Everyday
Email: ssd@iptm.org.in
Helpline- 91 9667478857.
Contact us:
Welcome to the IPTM institute contact information section . We value your relationship and your satisfaction is important to us. In case you have a queary , please feel free to contact us….
INSTITUTE / NOIDA
113, FIRST FLOOR , OCEAN PLAZA, P-5 , SECTOR 18, NOIDA – 201301 – UTTAR PRADESH- INDIA.
PH:- 91+1204553178
E- MAIL: ssd@iptm.org.in
TRAINING / NOIDA
113, FIRST FLOOR, OCEAN PLAZA, P-5, SECTOR – 18 , NOIDA – 201301- INDIA
PHONE- 91+ 9667478857,
E-mail: iptm.india@gmail.com
TRAINING DELHI
OFFICE NO. 7,GROUND FLOOR, GL 3, ARVIND NAGAR, DELHI – 110053- INDIA
PHONE – 91+999-067-6595
E- MAIL : payrollpedia@gmail.com
THANKS FOR READING
Rupa Banerjee – Payroll Editor
Email – rupabanerjee70@gmail.com.