Payroll Process ManagementMacFin Services LLP provide end to end payroll process management from joining of employee till full and final settlement by utilizing our expertise to optimize

Payroll Process Management

8 January 2018

CONTENTS

• COMPANY OVERVIEW

• PAYROLL MANAGEMENT SERVICE – At Glance

• EMPLOYEE SERVICES

• WHY - PAYROLL OUTSOURCING

• WHY MACFIN

• COMPNAY PROFILE

• CONTACT US

© Copyright MacFin Services LLP | Confidential

Company Overview

MacFin Services LLP provide end to end payroll process management from joining of employee till full and final settlement by utilizing our expertise to optimize your business. Our expert team competence in planning, developing and implementing revolutionary business concept.

MacFin Services LLP was initiated by a group of professionals who worked for other accounting, consulting and advisory firms and now joined together to accumulate their skill and talent for the defined delivery to clients.

MacFin Services LLP is one of the Leading professional consultant for Payroll Management and HR Administration in Delhi & NCR (Gurgaon, Noida, Ghaziabad, Faridabad etc.). We manages all the Payroll processing requirements and provides simple and suitable ways to process salary of the employees and file Income tax return on time.

MacFin Services assures precision and timeliness at every stage of payroll processing. Employer can save time & money as well use their HR resources in other activities by outsourcing payroll management process & HR administration.

• We work with selective and experienced executives to help them make better decisions, convert those decisions into action and deliver the success as per client need. We are passionate about achieving result oriented outcome for our clients.

• Our team make us different, experienced, enthusiastic and supportive for all challenges. We are able to work in all circumstances, environment and culture. Team Members maintain their independence and deliver truth. Our simplicity, transparency and approach towards excellence are the key tools to deliver success and value additions at our cliental.

• We are full of smart, driven people who care a lot more than only getting things done to build a long lasting relationship during the project tenure. It's all about relationships and delivery.

• Since our beginning, we are in individual partnership & have grown now based on our team experience and project deliverables.

• Our teams believes in technology, tools and innovation which saves our time and effort to deliver projects effectively & efficiently.

3

Payroll Management Service

4

5

Reimbursement

Management

Leave Management

Compliance Manageme

nt

Payroll Processing

ESS Management

Payroll Management

Payroll Management Services – At Glance

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PAYROLL PROCESSING

01MONTHLY PAYROLL

• Setting up of employee and CTC master

• Additions and deletions of resources

• Payroll Run

﹣ Monthly payroll run

EMPLOYEE APPRAISAL

• Updation of CTC master as per revision of salary

• Appraisal Run

﹣ Arrear Calculation

﹣ Arrear Disbursement

02

05DEDUCTIONS

• Labour law deductions

• Tax deductions

• Loans and Advances ,if any

• Professional Tax

• Any other deductions as per company policy

03FULL AND FINAL SETTLEMENT

• Processing of full and final settlement as per company policy.

04VARIABLE PAY

• Variable pay calculation as per company policy

• Disbursement of VP.

• Bonus, if any

* Variable pay includes incentive, performance bonus, commission on sales, any other monitory perq’s

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COMPLIANCE MANAGEMENT

01LABOUR LAWS

• Deductions and Return filing

﹣ PF

﹣ ESI

﹣ LWF

• Compliance of minimum wage

• Professional Tax, wherever applicable

TAX LAW

• Deductions of periodic employee TDS

• Periodic return preparation and filling

02

05EMPLOYEE FORM 16

• Periodic issuance of form 16

• Matching of Form 16 - Part A (Traces) with Part B

03JOINING COMPLIANCE

• PF AND ESI account opening

• PF transfer

• PF withdraw

04STATUTORY AUDIT SUPPORT

• Providing complete support to statutory and internal auditor of company

﹣ Head count recos

﹣ Monthly payroll variance

﹣ Appraisal report

﹣ Other reports as required


REIMBURSEMENT/LEAVE/ESS MANAGEMENT

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REIMBURSEMENT MANAGEMENT ESS MANAGEMENTLEAVE MANAGEMENT

• Fully Outsources Services

• View time earned, time taken and remaining balance for each policy assigned

• Model available time balance as of a specific date to get a real time snap shot of balance information

• Enter and request time off

• Carryover accrued time

• View time off transaction history

• Medical Reimbursement

• Calculations of reimbursement basis of invoice submission or as per model adopted by company

• Disbursement

• Telephone/Mobile Reimbursement

• Calculations of reimbursement basis of invoice submission or as per model adopted by company

• Maximum limit sanctioned by the company

• Disbursement

• Other Reimbursement

• Calculation of other reimbursement as per model adopted by company

• disbursement

• Web based resource where employee can view their personal payroll, benefits, leaves and any other information

• Updation of personal information of employee

• Information available on ESS

• Job Profile

• CTC with breakup

• Payroll tax

• Insurance

• Pay slip and form 16

• Retirement and Savings

• Vacation and sick leave balance

• Employee can upload their investment declaration and proof for taxation purpose

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REPORTS

STATUTORY REPORTS

i. Salary Register

ii. ESIC Challan

iii. ESIC forms

iv. PF Challan

v. PF forms

vi. Professional tax forms

vii. Income tax forms

INCOME TAX REPORTS

i. Income computation statement and reports

i. Salary register

ii. Update employee master for computed income tax amount

ii. Form 16 and 12BA

iii. Form 24

iv. TDS Challan

LOAN REPORTS

i. Month wise loan and deductions details

ii. Eligibility of loan to employee

iii. Option to update income tax data for considering differential interest as perquisites

iv. Loan confirmation letter

v. New loan report

PAYROLL REPORT

i. All Output and Statutory reports

ii. Branch/Department/Grade wise report

iii. Location/Category wise report

iv. Selected employee report

v. Other parameters as per requirement of compnay

vi. Master data

i. Employee Master

ii. CTC Master

SALARY REPORT

i. Monthly Salary Statement

ii. Emailing facility

i. Secured PDF salary slips

ii. Salary staement to branch/location

iii. Salary Disbursment output (bank format)

iii. Summay of salary of brach/grade/department

iv. Compare monthly processed salry of current month vis a vis previous month and Report chages/additions/deletion.

v. Full and final settlement report

MONTHLY REPORTS

i. PF Report

i. Employer’s & Employee’s contribution

ii. Details of EPF/VPF

ii. Professional tax statement

iii. ESIC Reports

iv. Outside agency related report – employee wise, agency wise, insurance premium, outside loan, credit society payment and other payments

Employee Services

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• Tax planning advisory to employees

• Aware about income tax law and rules

• Details of proofs required at year end for claiming deductions

• Preparation of complete tax structure

• Filing of income tax return at year end.

• Insurance

• Aware about types of insurance prevails in market

• Insurance beneficial for employee after assessing their personal needs and requirement

• Periodicity of payment of premium

• Investment advisory and portfolio management

• Aware about various investment area which fetch good returns

• Assessing plan to invest whether short term or long term

• Management of portfolio

• Areas of investment

• Amount of Investment

• Periodicity

• Returns on amount invested

• Loan Support

• Help employee in getting their loan approval done

• Support for below mentioned loans

• Home loan

• Vehicle loan

• Personal Loan

• Loan against gold

• Loan against immovable property

Tax Planning advisory and

ITR’s

Investment Advisory and

Portfolio Management

InsuranceLoan Support

Employee Services

WHY – Payroll Outsourcing

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Focus Better on Your Core Business

Get Access to Expertise and Technology

Reduce Costs and Risks

Security and Reliability

Updates & Technology

Accountant Interfaces

• Forget about legal, Laws, Regulatory

• Saves Internal team time and attention

• Experts in every field

• Latest Technology

• Cost is reduced

• Limited Risk

• No Data leakage

• 100% reliability

• Latest updates on payroll compliance

• No high investments in technology

• Easy access to your payroll related data

• Easy Records maintenance

WHY – PAYROLL OUTSOURCING

WHY – MACFIN

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SINGLE WINDOW SOLUTION

We provide single window solution for your payroll process right from joining of employee till its full and final settlement. We provide support to remote location by our presence in PAN India through our associates and channel partners. Our team of experts provides right solution to your complex problem.

ASSURE COMPLETE SATISFACTION

If you choose to align with us we are confident that we will exceeds your expectations, all the pay slips, tax calculation are available online, which means that employee as well as HR people can view requisites details as per their convenience.

SINGLE POINT OF CONTACT

We try to resolve any issue with payroll company and you likely to talk numerous people until the issue is completely resolved. Each time you call the company you get a different associates and he will not provide you support. Here, at MacFin Services LLP, we assign you a SPOC (single point of contact) who will manage all your transaction and interaction.

24*7 Support

We at MacFin Services LLP provides data available any time any where. You are the boss so why shouldn’t you be able to make requisite changes as per your need? We build impeccable flexibility into our model to give you an immediate support when you need it. Each client is different and so there business policy is, so we look to embrace discreet need of each client.

TRANSPERENT AUDIT

We have nothing to obscure- why would we? Every year we hire a third party accountant to audit your account and report to you that we are living up to your expectations.

WHY – MACFIN SERVICES LLP

Main benefits of working with MacFin Services

▪ Promoters and managers having years of experience in payroll processing

▪ Expert assistance and advice across all industrial sector

▪ Access to our payroll experts on the phone and in person

▪ Competitive pricing with no hidden charges/fees

Some important features

COMPANY PROFILE

16


Company Overview

MacFin Services LLP is professional business services firm that provide turnaround solutions in filed of accounting, auditing, and management consulting. It is our belief that talent, skill and experience can create value and helps to find solution to client’s need.

OUR VISION

• To deliver qualitative expert services efficaciously, adding value to the clients business and sustaining enduring client relationships.

OUR MISSION

• To gain healthy long term relationship with client

• To support clients

• To provide value added services to clients

• To gain respect and admiration

• To deliver technology, experience and work force.

OUR VALUES

• To provide solutions to client basic needs

• To work cohesively and cost effectively

• Work 360 degree

• Independent

• Simple and truthful


Company Overview

We provide expertise to optimize your business. Our expert team competence in planning, developing and implementing revolutionary business concept.

MacFin was initiated by a group of professionals who worked for other accounting, consulting and advisory firms and now joined together to accumulate their skill and talent for the defined delivery to clients.

• We work with selective and experienced executives to help them make better decisions, convert those decisions into action and deliver the success as per client need. We are passionate about achieving result oriented outcome for our clients.

• Our team make us different, experienced, enthusiastic and supportive for all challenges. We are able to work in all circumstances, environment and culture. Team Members maintain their independence and deliver truth. Our simplicity, transparency and approach towards excellence are the key tools to deliver success and value additions at our cliental.

• We are full of smart, driven people who care a lot more than only getting things done to build a long lasting relationship during the project tenure. It's all about relationships and delivery.

• Since our beginning, we are in individual partnership & have grown now based on our team experience and project deliverables.

• Our teams believes in technology, tools and innovation which saves our time and effort to deliver projects effectively & efficiently.

18


30+Network Cities

02Offices

25+Team Members

03Partners

Our Team and Presence

GROUP OF PROFESSIONALS

19

With experience in the filed of

Consulting Accounting Auditing Taxation Financial advisory Valuation Services

Secretarial Services

HR advisory and payroll management Services


What We Do

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Corporate Consulting

Book Keeping and

Outsourcing

Business Advisory

Domestic and International

Taxation


HR Advisory & Payroll

Management

01 02 03 04 05 06


Services Offered

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Corporate consulting is a professional service designed to assist businesses in developing or achieving goals that lead to success. We offer a wide range of services that include evaluating an existing process or structure, fine tuning some or many aspects of thecompany’s operation, and offering practical training to key people within the corporate structure. Corporate consulting can be focused on specific areas of a business or address the overall function of the company.

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Pre-Payment

Audit

InventoryManagement

Virtual CFO

Business Valuation

Fixed AssetsManagement

CorporateConsulting



23

01BUSINESS VALUATION

• Intangible and Tangible assets valuation

• Financial Modeling

﹣ Financial forecast & CMA data for Banks

﹣ Transaction, Strategic Alliance & Joint venture

﹣ Financial Bidding, Price Fixation & Costing

FIXED ASSETS MANAGEMENT

• Schedule II Compliance as per Companies Act

• Physical Verification of fixed assets

• Bar coding and .tagging of all assets

• Year end verification of assets

• Fair market valuation of fixed assets

• Fixed Assets insurance cover

02

05PRE - AUDIT

• The preliminary phase of an audit prior to the official examination of the accuracy of an organization’s financial statement, predominantly used to establish the scope of the audit and the areas of concern

• Provide Platform for:

﹣ Gathering background information, documentations and records.

﹣ Error rectification and prevention of ‘audit-time surprises’.

03BUSINESS VALUATION

• Intangible and Tangible assets valuation

• Financial Modeling

﹣ Financial forecast & CMA data for Banks

﹣ Transaction, Strategic Alliance & Joint venture

﹣ Financial Bidding, Price Fixation & Costing

04FIXED ASSETS MANAGEMENT

• Schedule II Compliance as per Companies Act

• Physical Verification of fixed assets

• Bar coding and .tagging of all assets

• Year end verification of assets

• Fair market valuation of fixed assets

• Fixed Assets insurance cover


Book Keeping & Outsourcing

Book keeping is an art of identifying, approving, sorting and recording company's financial transactions in a custom that they can be retrieved and presented higher management reporting.

Outsourcing is an arrangement in which a company retains another business to perform some of its work activities that could also be or usually have been provided in-house to concentrate on what they do best and thus reducing the costs.

24

AR/AP services

Bank account reconciliation

Invoicing Processing Services

Manual Journal Entry Services

General ledger maintenance

Expenses ledger maintenance

Preparing ageing reports & summaries

Preparing financial statements

Trial balance services / Preparing income statements (Profit & Loss)

Lowering labour costs.

Lessening regulations.

Focusing on core competencies

Reducing overhead.Book Keeping Services

OutsourcingAims


Business Advisory

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BUSINESS ADVISORY

The end result of an internal audit is no longer limited to focusing on the processes and controls surrounding financial reporting. Internal audit now has a more strategic role. It can create value by identifying enterprise-wide risks, leveraging synergies, monitoring and providing early warning of new risks; and improving processes/ efficiency. We provides a platform to its clients to achieve more from the business by providing internal audit services of highest standard.

RISK ASSESSMENT

Risk Assessment is the identification and analysis of risks that influence the accomplishment of an organization’s objectives, and determining the risk management processes. Risk assessment involves determining the operating objectives, systematic identification of activities/ events that could prevent a business unit from achieving its objectives. We aim at creating an analytical tool that maps out the potential alarming glitches and the preventive measures to avoid those glitches.

SOP DEVELOPMENT

Standard Operating Procedures (SOPs) is a mandatory component of any business model. SOPs act as the process book that describes a set of procedures and protocols for a particular action. Standard Operating Procedures describe how processes execute as well as detailing the roles and resources that are involved in a particular process. We take care of SOP development by creating it, reviewing it and periodically updating the SOPs.

OPERATIONAL AUDIT

The MacFin Services LLP advanced and analytical audit approach focuses on internal control and operational process analysis to ensure maximum productivity and efficiency in the processes/ practices. We work to identify the areas of weakness that violate or have the potential to violate legislative business policies, regulations and legal requirements. The end result gives our client streamlined operations which are safe and generates high ROIs.

SOX COMPLIANCE

Our experience and expertise enables us to provide solid guidance from the start of the SOX compliance engagement by creating long term compliance objectives for our clients. At MacFin Services LLP, we aim at providing our clients with customized, industry approved approaches that pave the way for our client’s compliance initiatives. We aim at offering cost effective loan staffing, complete SOX teams, project managers/ supervisors and advisory for most industries.


Taxation Advisory

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SERVICE TAX

• Retainer ship Service including filing of periodic returns

• Consultancy / Advisory Services

• Service Tax Registration / Amendment

• Due Diligence

• Service Tax Health Check

• Support in Relation to Assessments by various Status

VALUE ADDED TAX

• Retainer ship service including filing of periodic returns

• Consultancy/ Advisory Services in the Domain of VAT, CST

• VAT Audit

• Obtaining VAT and CST Registration/ Amendment

• Issuance of Statutory Forms and Road Permits

• Health Check for VAT/CST

• Support in Relation to VAT, CST & Entry Tax Assessments

GOODS & SERVICE TAX

• GST proposed to be implemented w.e.f 01st April 2017. "Goods and Services Tax" would be a comprehensive indirect tax on manufacture, sale and consumption of goods and services throughout India, to replace taxes levied by the central and state governments. Goods and Services Tax would be levied and collected at each stage of sale or purchase of goods or services based on the input tax credit method.

INDIRECT TAXTAX

CORPORATE TAXATION

• Corporate Tax Return & Audit

• Withholding Tax – Retainer ship & Advisory

• Tax Consultancy and Advisory

• Advising on tax planning opportunities

• Taxation relating Certifications – 15CB, etc.

• Conducting due diligence reviews and Health Check

HIGH NET WORTH INDIVIDUAL

• Review of books of Accounts

• Tax Audit

• Preparation & Computation of Income & Taxes thereon

• Preparation & Submission of ITR

• Advisory on taxation matters

ICDS

• Income Computation and Disclosure Standards (ICDS) introduced with effect from 1st April, 2015, constitute one of the significant amendments introduced in the Indian Income-tax legislation. ICDS are applicable for computation of income taxable as ‘Business income’ or ‘Other’ Sources income. These standards provide for some significant departure from Indian Accounting Standards and may lead to material tax implications for taxpayers. In this regard, we provide assistance in examining ICDS having regard to nature of business & transactions of the taxpayers and advising on relevant tax implications.

Our team of professional is dedicatedly working on GST



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ADVICE AND ASSISTANT OTHER SERVICESFULLY OUTSOURCES SERVICES

• Fully Outsources Services

• Management of Annual General Meetings / Board / Committee Meetings

• Preparation, attending and minute taking for board or committee meetings

• Preparation of Agenda papers, Notices and drafting of Minutes of the meetings

• Routine and non-routine company secretarial services for private, public and other types of companies

• Maintenance of statutory registers

• Filing of annual returns and accounts

• Preparation and filing of forms relating to any changes in your company such as change of director’s, registered address etc.

• Company/LLP/OPC formation

• Name changes

• Company dissolutions and strike offs

• Change in registered Office

• Secretarial Health Check ups

• Extension of Annual General Meetings

• XBRL Filings of Financial Statement

• Secretarial Due Diligence

• Preparation of Share Certificates, transfers, share splits etc.

• Increase in Authorized Share Capital; Change of name; Change in object clause;

• Registration of charges, search and status report

• Issue of ESOP’s, Rights Issue, Private Placement as per Companies Act 2013

• Alteration in Articles of Association by incorporating clauses as mentioned in joint venture agreement/shareholder agreement

SECRETARIAL COMPLIANCE AUDITS

• We conduct secretarial compliance audit for and on behalf of the corporate. It helps strengthen the Corporate Governance in an organization. Secretarial Compliance audit assists the Audit Committee and the Board of Directors on understanding the status of the secretarial compliances, internal control systems, and its effectiveness in the proper and transparent governance of the organization relating to secretarial matters


HR Advisory and Payroll Management

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• Designing HR strategy, policy and procedure

• Establishing Manpower planning and budgeting process

• Developing Organization structure/design

• Developing Job description/ authority level matrix

• Establishing functional scorecards align to business scorecards

• Individual scorecard development

• Setup of attendance master

• Preparation and updation of monthly leave master

• Preparation and updation of monthly payroll.

• Distribution of salary slips to employees

• Income tax computation and year end compliance and verification of employees declarations.

• F&F process and disbursal

• Compliance Management- PF, ESIC, LWF etc.

• Competency Mapping

• Assistance to head hurt human resource/ talent search and acquisition

• Interview assistance, pre assessment and evaluation

• Background check and verification

• Offer letter/appointment letter designing and roll-out

• Employee master file development and maintenance

• Developing code of conduct model for your company

• HR Audit

• M&A post merger integration

• Conducting exit interviews and analysis

• Developing succession planning model

• Enterprises learning and training

• Project based recruitment

Organization HR Strategy

Recruitment Process

Outsourcing

Payroll Management

Miscellaneous Human Resource

aspects

Who Makes Us Proud

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Our Clients

ION Trading

Gomti Ngr Mall, Lucknow

Fixed asset register

Fiserv


Our Clients

Accounting/ GST/ Other

MEILLEUR MEDIA

SANDBOX(E-comm Co.)

DREAMWORKS ENTERTAINMENT

(Event Co.)

YOUR SUCCESSIS OUR PRIORITY

© Copyright MacFin Services LLP | Confidential 33

Corporate Address:SS-53, 2nd Floor, Aditya Mega Mall, Central Business District,East Shahdara, Delhi 110032 (India)Near Cross River Mall Karkardooma

Registered Address:RZ-11B, B-Block,2nd floor, Kailash Puri, Palam Colony,New Delhi - 110045

Mobile: +91-9999733394Email: [email protected]: www.macfin.in

mailto:[email protected]

http://www.macfin.in/

Documents

Payroll Process ManagementMacFin Services LLP provide end to end payroll process management from joining of employee till full and final settlement by utilizing our expertise to optimize