Streamlining Year End Document Collection Process
It is that time of the year, when all companies are working towards completing all the employee document proof collections, so that they can compute the balance tax deductions for Feb & Mar. Where is your company with this process right now?
If your process and systems were well organized, you would be at a phase, where you will be completing this process shortly. If not, then you are huffing and puffing to get this completed on time and it can be quite stressful.
HR workload
The workload for HR teams at this time of the year. Collecting documents, verifying what are allowable for tax exemptions and interacting with employees to resolve their queries on this topic can take a significant amount of time and effort. Most teams work long hours to get this completed on time, before all data goes to payroll for payouts of Feb salaries.
With all these marathon efforts, can you be sure that you are not missing any relevant documents. Are you confident that you are following all govt. mandated norms with reference to the exemptions allowable? Mistakes can lead to potential penalties and not to mention, several disgruntled employees, on account of excess taxes deducted.
Documents Collection desk
Paysquare can take care of all these hassles for you.
For its clients, Paysquare sets up a dedicated documents collection desk (for physical proof collection). Wherever applicable, employees can also upload scan copies of relevant documents on the employee self-service portal, that Paysquare provides to its clients.
Ensured Compliance
Our diligent teams process the documents collected, verify exemption rules as per the income tax act, and then proceed to provide all the relevant tax deductions information to the payroll processing team. For any grievances, our team interacts with your employees and solves all issues within acceptable time frames. This is done, both online on our self-service portal as well as face-to-face, when we host document collection desks at companies.
With us taking care of this process, you can be confident that your company is meeting all the compliance requirements and your year-end documents collection process is a smooth and efficient one.
Do talk to us [email protected] and we can help you with streamlining your year-end documents collection process.