5 CRUCIAL PAYROLL & ACCOUNTING SERVICES FOR START-UPS

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FASTCOLLAB

• 5 CRUCIAL PAYROLL ACCOUNTING SERVICES FOR
  START-UPS

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• Payroll Accounting can be a challenging task
  for any entrepreneur, especially if you are a
  non-finance / non-commerce background. Keeping
  books in order is crucial to avoid fiscal
  problems and inciting penalties. As the business
  grows, your accounts grow more complicated. In
  this blog, well present 5 crucial Payroll
  Accounting Services any start-ups should not
  avoid.
• 1. Issuing Salary to Employees
• Most start-ups / SMEs do not follow the standard
  procedure for processing the salary of their
  employees. And more worrisome part is managing
  salary payments in excel sheets.

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• 2. Monthly Compliances
• It is a general guideline that as a company
  crosses employee strength of 20, monthly
  compliances and statutory deductions come into
  the picture. Start-ups / SME owners are required
  to take such norms seriously to avoid any penalty
  from the government.
• 3. Calculation Payment of Taxes
• The term TDS (Tax Deducted at Source) comes into
  picture, the moment a business pays salary to
  even a single employee. Imagine how tedious and
  time consuming it would be if start-ups / SMEs
  are doing it for 10-20 employees on manual excel
  sheets. 
• 4. Investment Advice to Employees for avoiding
  access taxation
• It is the responsibility of employers to deduct
  Income Tax while they are paying salaries to the
  employees (based on the tax slabs defined by
  Government of India).

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