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Payroll and Accounting Solutions


Payroll processing

As it is well known, employees’ compensation has become a very significant cost that needs to be monitored and kept under effective control. Companies have realized the need for effective management of payroll processing and the growing importance for keeping it confidential. Companies could well achieve these objectives by handling the payroll process with the assistance of professionally managed solution providers.

We at Mindscape, being professionals, have fully understood the need for effective, accurate and confidential management of payroll processing. We have established adequate systems and procedures and practice the same from the stage of receiving inputs for payroll process and the final delivery of the processed data. We are currently using effective payroll software duly customized to generate meaningful management reports apart from the payroll process sheet, settlement slips and various statutory returns. We ensure no revenue leakage through effective reconciliation process between two payroll periods. Being audit professionals, it has become our way to audit even the input data to avert any input errors and the output data before the same is released to the client. We exercise our professional skills in the area of statutory deductions such as income tax, provident fund contributions and analysis of the output data for more meaningful needs of the management.

PF and ESI Statutory Requirements

Mindscape will handle periodical filing of statutory forms / returns relating to PF and ESI. Forms relating to PF are Form 2 including nomination forms upon induction of an employee, assisting the client on payment of PF monthly contributions, collection of challans from the bank, filing the monthly returns such as Form 12A, Form 5, Form 10 along with challan copies, filing of annual forms such as 6A and 3A including the soft copy of annual contributions in the format desired by the PF department and handle PF account transfer requests.

Mindscape will also handle the monthly online generation of ESI challans and assist the client in payment of monthly ESI contributions.

Mindscape will also assist the client in payment of monthly Professional Tax contributions and file the necessary the forms with the Corporation of Chennai.

Tax Deducted at Source

Mindscape also offers, at the option of the client, submission of tax investment declaration, viewing of payslips and TDS worksheets through an online portal with employees login and rights identified.

Accounting

We handle accounting of small and medium enterprises and the clients be long to software, manufacturing, trading, and construction and service industries. Generally the records are given to us periodically and the data are updated using Tally accounting software. The accounts are reviewed periodically with the clients and we also help them in planning their tax issues. We also assist in preparation various periodical statutory returns such as sales tax, eTDS and submitting the same to the respective authorities. These accounts are handled through audit assistants pursuing Chartered Accountancy course and hence are handled with audit perspective.

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