- March 28, 2019
- Posted by: nrsnepal
- Category: Human Resource
WHAT IS PAYROLL MANAGEMENT?
Payroll Management refers to the management of employee’s overall financial records such as salaries, bonus, wages, retirement funds, deductions and net pay. It consist of performing detailed payroll calculations as per the contract between employee and the company and as per company norms regarding facilities provided to all the employees. Likewise, based on prevailing income tax laws, the tax deductions for every employee is computed and returns are filed against it.
- Calculating tax obligations and net pay amount
- Error free documentation
- Providing periodic management reports regarding payroll
- Accuracy and timely delivery
- Consistent communication with accounts department
- Filing of payroll tax return
WHY IS IT REQUIRED?
In case of Payroll Management in Nepal, these records must be maintained and retained by the employer as per the requirement of Labour Act 2074. On time payment of remuneration of the employees not only impacts their morale but all depicts the financial stability of the organization.
Benefits of outsourcing Payroll Management:
- Organization is able to focus in its core business
- Cost cutting regarding maintaining staff and office space for payroll management
- Access to skilled professionals
- Secure transaction related to employees records and payment information
- Efficient resolution of issues related to employees
WHY CHOOSE Nepal Realistic Solution (NRS) ?
NRS provides specialized payroll management service in Nepal. It consist of team of professional who are knowledgeable about the updated regulations prevailing in Nepal and apply the same diligently during payroll processing assuring that the latest tax rates are used. NRS believes in providing convenient service with accurate output which are compliant with the rules and regulation prevailing in Nepal.