Many organizations handle the payroll process in-house. At the same time some businesses outsource their payroll service provider who handles all the aspects related to this. In both the cases it is very vital to understand the compliance related aspects and micro-manage them to prevent any issues in payroll, since this is related to the operational cost of the organization and any errors will directly impact on the ROI as well as, since these compliance related aspects are related to the government, it might even result in adverse effects in the reputation.
When your organization handled statutory compliance related activities, the factors that tend to influence and create errors include:
Time Consuming and Cumbersome processes
The first and foremost factor that tends to create an issue with regard to compliance and payroll processing company is that your HR leader must be an expert in the industry. He must be aware of all the changes that tend to happen in a frequent basis with regard to the government regulations, especially taxes.
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