Which Payroll Functions Can Be Outsourced? 

Payroll is not just ‘one’ simple activity. It is a group of activities performed in conjunction. When you outsource payroll, you generally outsource the following functions:

• Employee payroll account set up. All necessary personal information for processing the individual’s payroll is acquired.
• Payment method set up. The desired payment method for the company, whether that involves automatic payments/direct deposits, or pay checks is established.
• Withholding of all applicable income and payroll taxes. 
• Remitting payroll taxes to the tax department.Note, where this is outsourced, it is still usually the obligation of the employer, rather than the third party, to remit taxes that are owing. Therefore, when this is outsourced, employers still need to be aware that they will usually still be liable for any required payments.
• Managing any applicable employee deductions, such as health insurance and workers’ compensation, and recording these in the employee’s pay stub
• Managing any end-of-year tax forms and declarations.
  
  

Payroll processing services require in-depth knowledge of managing human resources and strategies to balance the organization’s workflow. To make the process seamless and ongoing, accompanying payroll outsourcing service providers like PTC will really be a good option.

Our payroll systems are developed in a manner that helps start-ups and

large enterprises in a professional way. Also, we provide customized solutions for payroll management such as daily payroll reports, adopting a new system that consumes less time, and offering an employee-friendly payroll processing system. Our Process includes maintenance of records, preparation of payroll and cost analysis, submission of statements to authorities, and processing net salary with a payslip.

• Payroll Setup in the software
• Preparation of W-2s, W-3s, and W-4s of each employee
• Setup Weekly/Bi-Weekly/Monthly pay rate for each employee
• Calculating Annual/Sick leave and Vacation pay of all employees
• Calculation of Payroll Withholding like Federal Withholding, State Withholding, Social Security, and Medicare.
• Generation of Weekly/Bi-Weekly/Monthly payroll of all employees
• Create Pay checks using software Calculation of Payroll
• Liabilities to the IRS
• Prepare and file Quarterly Payroll Returns (Form-940 & Form-941) to the IRS