“Do what you do the best and outsource the rest- Peter Drucker”.
Businesses, especially Small and Medium Enterprises find it very time consuming and challenging to handle the essential functions of accounting and finance, legal compliances and also to concentrate on developing the newly formed business at the same time.
The expertise required for the ever-changing law and related compliance places additional pressure on them to stay up-to-date which is highly impracticable.
Accounting system formulation:
Infini offers specialized Accounting and Finance Outsourcing Services to Companies by taking up the responsibility of efficiently managing the finance, accounting and compliance functions of an entity.
From SMEs to MNCs, we give the comfort and confidence to every business to outsource their most important and integral finance function to experts like us and focus on their core business.
Financial Analysis, MIS Reporting and presentation in Board Meetings
What is the use of books and records, if there are no meaningful reports that are generated out of it? We help organizations not only to maintain their financial records, we also prepare and present reports to the management on a timely basis for their effective decision making.
Our report preparation mechanism is tailor-made for each client. Our experts understand the reporting requirements of each and every client and prepare and present the reports according to their needs.
Payroll Management
With experience and sound knowledge on the labour laws, we assist our clients in handling the entire payroll process including monthly payroll calculations, maintaining employee records, processing payroll payments, statutory filings such as PF, ESI, PT, etc., onboarding employees, handling employee queries, managing employee reimbursements, etc.
End to End Statutory Compliance
We understand each business’s compliance requirements from ROC, IT, Labour law organizations such as PF, ESI, GST, RBI, FEMA and other various laws that is applicable to a Company. Through our outsourcing arrangement, we make sure that the client is compliant with all the Statutory laws and not worry about any legal issues that could arise out of Statutory non-compliance.
What are the benefits of outsourcing my finance and accounting activities?
Accounting and Finance Department is core to any Business. It is very essential that such a critical department is managed by personnel who are well equipped. More often a Finance Team in a Company comprises of employees having Finance as their background having the ability to do regular book keeping activities, but are not backed up with a Professional Qualification to understand, analyse the financial position of the Company and help in making the right business decisions at the right time. We at Infini with a strong team of Finance Professionals having up to date knowledge on the latest developments bridge that gap in Companies for the need of a Professional Support.
What are the standard MIS reports that I can expect out of an outsourcing engagement?
We at Infini make sure that we deliver core reports to our clients that gives the Management a clear picture on the current status of the entity, what is going right, what is not and key areas to focus upon. Our MIS reports that would have a detailed Profit and Loss Statements with comparisons, Balance Sheet with comparative ratio analysis, Cash Flow Statements, Statutory Compliance Reports, Dash Board on Revenue and Gross Profit Margins etc gives the crucial information to Management without any delay. We also provide customized reports to Managements based on their requirements.
How do I know what are the Statutory compliances that my Company should be complied with?
There are various statutory compliances that are applicable to business entities based on the nature of business they are into and type of their entity constitution. The Compliances are vide spread with respect to direct taxes, indirect taxes, factory law related, labour law related, customs related, MCA related, FEMA Compliances etc., Get in touch with our team to know more in detail about the Statutory Compliances applicable to your entity.
What are the due dates for various compliances that have to be followed by my Company?
The due dates are spread over the month and the year depending on the compliances under Direct, Indirect Taxes, MCA, FEMA, ESI, PF, Professional Tax etc., Depending upon the regulatory compliances applicable to each entity, we at Infini frame a Statutory Calendar for each client , circulates it and ensures compliance within the time lines.
How do I calculate taxes to be deducted on the salary payment of my employees?
TDS on Salaries are governed by Sec 192 of the Income Tax Act. Taxes have to be deducted on Salaries based on the slab rates applicable for each individual employee. Its essential to take into consideration the salaries, various perquisites given to the employee, his other sources of income including salaries from previous employer, investment declarations and proofs to identify the taxable income and deduct appropriate TDS on the same from an employee. Our Payroll Processing Team at Infini are well equipped and assist in calculating the TDS deduction and helping with related compliance for our clients.
What are the statutory deductions apart from TDS to be made in the Salary component of my employee?
PF, ESI and Professional Tax are certain mandatory deductions to be made apart from TDS in case of an employee. However, such PF, ESI and Professional Tax deductions will be based on the applicability of those laws and whether the employee or the establishment falls under that category or limit specified.
How do I contribute and file PF, ESI returns for the benefit of my employees?
Both ESI and PF returns filing and payment are online procedures. Once an employee is added to the list in ESI and PF and the unique number is allotted to him, the employer and employee contribution for employees can be filed by way of an online monthly return and payment made through Internet Banking once the online returns are submitted.