Compliance process outsourcing
As we live in a complex and highly dynamic business environment, every organisation needs to focus on its core business activities sharper than ever before and get all the enabling functions running efficiently and reliably.
Ma Foi offers a range of statutory compliance services to help companies not worry about the fitness of the processes to ensure compliance with the laws of the land. Right from monitoring your Provident Fund, ESIC, Professional Tax, Labour Welfare Fund, compliance with Minimum Wages and TDS, we ensure that the organisation follows all the statutory provisions applicable for their respective industry sector, places of operation and nature of business.
Based on the organisation’s needs, we provide services of either preparation and maintenance OR supervision and audit of the statutory registers, remittances, filing and audit documentation for the statutory requirements such as CLRA, S&E, Factory Acts.
- We have online systems which provide you real-time dashboards and reports to give a quick overview of the compliance status. Thus, we offer a bouquet of compliance services in one platform for you to choose.
- In case notices from statutory bodies are to be responded to, Ma Foi team offers its services starting from responding to those notices till giving the closure to the issues and realigning the business processes if any such change is required.
Ma Foi’s dedicated team of experts keeps track of the changing laws and updates the clients of the same besides adapting the processes to the changing environment. Our focus is to help our clients conform with all statutory requirements and manage the risks.
Organisations need to pay the salary, bonus and variable pay to the employees, reimburse them the expenses incurred on business, deduct the right amounts from the pay towards statutory pay and taxes,remit the statutory dues on time. All of these tasks have to happen on time and accurately. Hence, we need a system that is reliable and transparent, also processes that work with speed and highest degree of accuracy.
Ma Foi’s payroll services provide you with a reliable and fully-automated system that not only delivers speed and accuracy but also ensures compliance with the statutory requirements and timely payout of salaries and reimbursements to employees. These services are SLA-bound and bear the spirit of continual improvement. We ensure that our payroll processing follows all the required standards of corporate governance and tax regulations.
This service is payroll and compliance end-to-end, includes the following:
- Providing a payroll tool with processing services,
- Generation of Paysheet for the company to advise payouts,
- ESS to provide payslips for employees, facility to declare their investments for Income Tax, submitting proofs of Investments, seeing the Tax calculations, getting the Form-16 and query resolution,
- Generation of all statutory challans and remittance with filing of returns.