Products & Services > Destiny
More and more companies are looking for reliable and expert solutions for the various segments of their core business. HR solutions are gaining worldwide in importance and popularity as they provide corporations with the timely and efficient management and disbursement of their payroll, a very important element to achieve employee satisfaction and performance excellence.
Sofcom, with years of experience in development and successful implementation of its HR application HARMONY now brings to you another unmatched and reliable Payroll Outsourcing Services.
Focus on Core Business
Outsourcing your payroll saves a significant amount of time that is normally required to execute this routines process. This saved time allows you to focus more on your core business, which results in greater revenues and improved services for your business.
Low Acquisition Costs
Destiny helps avoid the large upfront expense required for the acquisition of appropriate hardware and software for a new or enhanced HR solution. Also, Destiny reduces or removes the problems of technology obsolescence and redundancy.
We constantly keep an eye on the prevailing statutory regulations. Destiny helps you remain compliant with these regulations such as Income Tax, EOBI, ESSI, etc.
Greater Cost Savings
Destiny can help you in lowering your ongoing operational costs. Due to Sofcom’s economies of scale and efficient working practices, Destiny will reduce your overhead costs in the areas of payroll staff, hardware and software maintenance.
With Destiny you can predict your ongoing payroll management costs. This reduces the uncertainties in business planning.
Less Dependency on Individuals
By outsourcing, you can ensure that you are not dependent on a few key employees who may leave your organization. Instead, you are in contract with a professional company to relieve you of such worries.
Accuracy and Timelines
Payroll errors and delays can be very painful and costly. With professionals managing your payroll you can expect greater accuracy and timelines.
The scope of Destiny includes the following:
- Salary Calculation – Allowances/ Deductions.
- Income Tax Calculation and reports as per the rules and regulations.
- Provident Fund deduction and member balances.
- Employees Loan installments and their profit/markup calculations.
- Employees Leave without Pay.
- EOBI contribution and Reporting.
- Overtime Calculation.
- Bonus Calculation.
- Medical and Other Expense claim and reimbursement.
- Management Reporting
- Integration with existing ERP or Finance software solutions.