Saturday, July 25, 2015

Mynd Solutions: Your Perfect Payroll Management System Partner

In order to run the operations of an organization human resource is required and to keep the human resource motivated it is important that we pay them on time. In order, to pay the salaries on time the organization must ensure that the entry and exit time of employees is recorded properly. Secondly, leaves of employees are recorded properly.

However, managing the payroll management system is not that easy. It is also important that the tax and savings component of the salary should also be properly accounted for. Further, payroll management system is also required to generate payroll reports and tax compliance reports.
The presence of a proper payroll management system makes it easier for you to keep a record of numerous things related to payroll management services. Mynd Solutions offers a range of payroll outsourcing services and is a perfect solution for all your payroll management services related needs.

With presence and managing operations in countries such as the Middle East, Africa, APAC, USA, and European Countries, Mynd solutions is clearly a leading payroll outsourcing services organization based out of strategically located in Tier 1 cities in India. Mynd Solutions has presence in 16 countries globally.

Some of the benefits of choosing Mynd Solutions payroll management services are firstly, it offers complete real time information and reporting it offers a complete payroll solution. Secondly, each client is provided with one point of contact and it manages the multi country operations and provides centralized solutions related to payroll management.

Thirdly, it provides solutions over the Software as a Service platform for Employee Self Service ESS/ HRSS/ MSS. Mynd Solutions always ensure to provide a high level of service, training and supports to its clients on the secured internet based open integration platform.

With a dedicated team of professionals, Mynd Solutions offers a complete package for all your requirements related to payroll management services. Its systems can easily connect and integrate with multiple ERP’s for automated exchange of data. All processes at Mynd Solutions are compliant with standards as that of SSAE 16 and ISAE 3402.

Tuesday, July 7, 2015

COMPLIANCE NEWS @ Mynd: Mandatory deposit of contribution through Internet Banking

We are forwarding herewith a copy of circular bearing  No. Bkg. 1(4)2010/Online Remittance/12871 dated 24th June, 2015 from the Head office of the Employee Provident Fund Organization , New Delhi along with the copy of the order bearing No Bkg. 1(4)2010/Online Remittance/12870 dated 24th June issued by the Central Provident Fund Commissioner New Delhi in exercise of the powers conferred by section 5 read with sub-section of (1) of section  7 of the EPF&MP Act 1952 has notified amendments in Parts 38(1) and 48 of EPF Scheme, 1952, making it mandatory for employers to pay the statutory contributions through internet banking.

It has also stated that an employer who makes payment of less than Rs. 1 lakh in a particular month as contribution under EPF & MP Act, 1952, and scheme framed thereunder , shall have option to make such payments through physical mode of payment  (bank drafts or bankers cheques or cheques) for transitory period is being considered at appropriate level.

Note: The employers remitting contribution below Rs. 1 lakh per month shall, however, have the option to remit such dues through the internet banking even during the interim period upto September, 2015.

The aforesaid order makes the employer of the establishment covered under the EPF & MP Act, 1952, to comply with the requirements as laid down in the said order.