Payroll

HR Solutions
IT Services

Payroll Processing and Administration

Virat HR Consulting has a payroll processing system in place that is a combination of the best of software tools, expert know how, IT infrastructure and a payroll team. In response to articulated customer needs and as a logical extension of our services portfolio, we offer Payroll processing services as an independent offering to our customers. Designed to manage payroll of your on-roll employees, our payroll processing services are configured to cater to your specific requirements

One Time Activities
  • Salary and benefits structrings
  • Data Migration
  • Setting up rules and employee masters
  • Dry and parellel runs
Recurring Activities
  • Payroll Processing
  • Pay Slips
  • Statutory reports and submissions
  • Client and employee query management
Reports And MIS
  • Pay Register
  • Leave reports
  • Bank advice reports
  • IT reports etc.
PF Management

Our clients can benefit from our various PF Management services as summarised below.

PF Set up

For Start-ups the Decision on implementing PF depends on how it needs to be set up, i.e. does it need to be an Exempted Trust or is the Non-Exempted Fund whichever is applicable. This is determined by both the choice of the organisation as well as the applicable rules from the government.

Provident Fund Administration

Once chosen for a PF Scheme, an ongoing process of recording, coordinating and administrating starts. The main activities that are required to carry out are given below, divided in the applicable form of PF Fund / Trust.

Non-exempted Fund (RPFC)
  • Preparation of challan for monthly pension contributions to Regional Provident Fund Commissioner with proper break-up of EPF & EPS and to ensure proper calculation of EDLI charges.
  • Maintenance of 3-A / 12-A Register required under EPF & MP Act 1952.
  • Filing of monthly returns in Appendix to RPFC.
  • Filing of monthly returns for new entrants and resigned / retired by submission of Form 4.5.6 and 71F.
  • Submission of Form no. 2 pertaining to nomination with RPFC as and when it comes and also maintenance of the same with employer for records and reference.
  • Liasoning and Follow-up with Local RPFC for claims and transfer from previous employers PF accumulation for new entrants.
  • To advise in all matters relating to Provident Fund scheme, Pension scheme and EDLI Scheme.
  • Attending periodic inspections as and when it occurs and correspond with RPFC in respect of any query raised by them.
  • Filing of Annual returns (Form 7 & 8) to RPFC.
  • Preparation and submission of yearly information for observance month as well as for annual report of PF.
Exempted Trust / Excluded Trust / Private Trust
  • Writing of the books of accounts of the Trust to the satisfaction of the Auditor.
  • Maintenance and preparation of the members individual account statements and control account.
  • Managing the Investments of the Trust.
  • Attending to all Income Tax, Provident Fund and other related matters and representing to relevant authorities on behalf of the Trust.
  • Secretarial duties in respect of meetings held by the Trust.
Payment Related Activities
  • Bank Statement upload.
  • Reconciliation of Payment Accounts.
  • Interaction with the Finance & Accounting Department for Troubleshooting.
  • MIS to Investment and Accounts teams for provision of funds every month.
  • End-to-End PF related queries and interactions with employees as well as the management.