Veracity Payroll provides payroll management, taxation, and compliance services. It offers services including payroll processing, statutory deductions, reimbursements, accounting, and reporting. Veracity's team includes professionals like chartered accountants and MBAs who are equipped to deliver cost-effective solutions. The company handles all aspects of payroll from computation to statutory compliance and reporting in order to take the workload off of clients.

1. Veracity Payroll
Payroll, Taxation and
Compliance
Management Services

2. Veracity Payroll
Introduction- Veracity Payroll
Veracity Payroll, is in Business Process Management (BPM) services providers, primarily into three
different business verticals which are Human Resource Outsourcing (HRO), Customer/Document
Management Services and Consultancy.
In response to corporate’s demand for Veracity, who could help with back-end services in HR domain,
Veracity evolved into a business process management company, specializing in technology enablement
around HR operations coupled with customized services delivery suited for global business
environment.
Veracity , offers a wide range of specialized, multidisciplinary professional services within its core
domains of service, and those that meet the immediate as well as long term needs of a business.
Veracity collaborates with each client to deliver customized outsourcing solutions that range in
complexity from individual transaction-based functions to highly scaled-up operations. In this
endeavour, our core competencies in platform-based services offering and ability to leverage relevant
professional expertise and resources, strengthens our domain expertise and gives us a leading edge
over our competitors.
Our multi-disciplinary team of professionals comprising of Chartered Accountants, MBAs are well
equipped with the requisite business and technical skills, experience and knowledge in order to deliver
relevant and cost-effective solutions to our clients across industries. Our professional expertise gives
us the edge to develop and maintain a high level of competitive advantage and sustainable value adds
for our clients.

3. Veracity Payroll
What we offer -
 HRO Services
 Payroll Management
 Compliance Management (PF,. ESI, PT & LWF)
 Payroll Taxation Management
 Statutory Registration with Authorities
 Accounting Services
 Reimbursement Processers
 Bank and GL Account Reconciliation

4. Veracity Payroll
1. Proposed Services
A. Payroll Management Services
• Computation and preparation of the monthly payroll based on the inputs received from human resources
department (HR) and/or Accounts, directly or through an online web-based HR application (eHRIS)
• To track CTC reimbursement eligibilities, claims and payments
• Ensure deductions of all relevant amounts as per applicable statutory laws like Income tax, Provident Fund,
ESI, Labor Welfare fund, Professional tax etc.
• Computation of PF, ESIC, LWF and Ptax Liability (employer’s and employee’s share)
• Compute and provide the full and final (F&F) settlement, in case of severance of employment based on no-
dues forms duly signed & other details provided to the team by HR
• Provide consolidated reports (including bank transfer advice) for HR records, accounting, payment etc.
• Year End Activities – collection and vouching of Investment Proofs toward Income Tax savings, Statutory
Compliances Administration (Payroll related), Form 16 issuing etc.
• Reconciliation of payments, statutory deductions etc. with books of accounts on quarterly basis.
Payroll Reporting:
• Veracity provides comprehensive set of report pack as part of Payroll delivery. Offline reports with version
control are shared with the client. These reports can be statutory and non-statutory.
• Veracity also provides several online system generated reports. Online reports can be provided in various
formats such as html, .xls, .doc, pdf etc.

5. Veracity Payroll
The various kinds of reporting done on Payroll, are listed as follows:
 Pay slips for the employees (through E-mails/ hard copies)
 Tax calculation sheets for employees on quarterly basis
 Reimbursement slip/ ledger for the employee
 Salary statement for the company
 Variance statement
 Bank transfer letter for the salary
 Reimbursement report for the company
 Monthly statutory compliance report
 Monthly salary accounting journal and salary provision journal
 Form 27A on quarterly basis
 Form 16 for employees on annual basis
Note: We do understand the need for need based reports and our teams are trained and equipped to provide additional
and customized reports, usually required in the normal business environment.
Other Services:- Helpdesk services to employees:
Telephonic Support: Employee can call for any payroll related query on a dedicated assigned number. This shall also be
open on all working days, Monday to Friday between 10am to 6 pm for query resolution on payroll & related matters.
Email Helpdesk: Employee can raise request over Email to MSPL for his/her query related to Payroll, Tax and other
related activities to which Veracity payroll team will be responsible for resolving. This would result in a streamlined
communication between employees, Veracity & HR Spoke of the Client. This also reduces manual intervention and helps
in time saving for both HR & Employees.

6. Veracity Payroll
Payroll-related Compliance Administration Services:
1. Provident Fund Act, 1952
 Monthly database update for compliances
 Monthly advice to company for amount to be deposited with respective RPFC, including any statutory charges
 Preparation of monthly returns, if any and deposit the same with RPFC
 Apply Transfer to the RPFC for transfer of funds from previous company and provide acknowledged copy to respective employee
 Submission of PF withdrawal forms along with Form No. 3As with RPFC in case of employees leaving during the current financial year
 MIS reports will be sent on monthly basis covering pending and received transfers and settlements and other related activity
 Obtaining statement from RPFC at the year-end or uploading of PF slips on web portal
 Help Desk services via E-mail or website
 Support in case of any inspection/summons/tribunal matters
2. Employees’ State Insurance Act, 1948
 To prepare application for ESI sub-code & get the registration done within a TAT of 15 days
 To upload Form – I on ESI site & print TIC
 To deposit ESI dues in SBI before 21st of every month
 Form-5 - to prepare & submit to Authority concerned on/before due date
 Form-6 (Regulation 32) - to prepare & update on monthly basis
 To prepare & submit half yearly before due date
 Any other misc. work related to above act
3. Professional Tax Act
 Obtain Registration under the Act – prepare and file all necessary documents required with the concerned Department at respective location (if
required)
 Calculation of Professional Tax – as per salary slabs prescribed
 Deposit of Professional Tax – Monthly/Half yearly/Annually (as the case may be)
 Filing of prescribed Returns at defined Intervals
 Handling queries/Assessment of Professional Tax
4. Labor Welfare Fund Act
 Checking of Wage Register
 Maintain register of unclaimed wages and fines and other necessary records as required under respective State Laws
 Employer and Employee contribution to be deposited with the Welfare Commissioner at defined intervals
 Submission of Returns as required under respective State Act at specified intervals
 Unpaid accumulations to be deposited with the Welfare Commissioner
* The detailed Act-wise SOW is articulated in the Annexure – 1 at the end of the document

7. Veracity Payroll
2. Veracity Services Delivery Approach
• Single Point of Contact (SPOC):
Veracity offers a single point contact in an Account Manager. This person will interact with the client for all issues
related to service delivery. Should the client wish to talk about an issue other than the Account Manager he/she can
speak to the Relationship Manager.
• Quality Delivery Framework:
a) Process Mapping & Documentation
b) Identify Process Deliverable & Matrix
c) Audit Checklist / Monitoring Sheet
d) Perform Regular Audits / Monitoring MIS
e) Analysis Audit / Monitoring Scores & Fix Errors

8. Veracity Payroll
Thank You!!!