Traditional HR models are being redesigned, with increasingly agile organizations. Several non-core tasks like calculation and deduction of statutory payments, uploading of data on respective websites and generation of challans, filing transfer and withdrawal forms for the provident fund, filing of returns with government agencies as per the schedule, registrations and renewals of respective licenses, etc. take up a lot of time and resources of an enterprise. There is a shift in the management of such tasks through outsourced payroll partner.
As India gears up for an interconnected economy, it’s imperative to roll out an inclusive statutory and compliance taxonomy that addresses complexities.
“HR and IT now have a growing priority to work together to ensure new technologies not only address complex business issues but also meet the expectations of people who use them,” said Rakesh Jain, founder and CEO, Paysquare.