Working on third party payroll, mostly you will end with fewer benefits and lesser salary than the people on direct rolls. This is not the rule, but this is what happens. But if getting a direct employment is not possible, and this role is better for you in absolute terms, go for it. Learning is always good. Working in payroll is an excellent career choice. Their most common daily tasks include entering data for payroll transactions, processing employee information for new hires and changes and managing the overall payroll workflow. Most companies outsource their payroll duties to a third party. The employer transfers requisite funds to the third party which then takes care of all the payroll responsibilities. Wages are now no longer paid from the employer's account but are paid by the third party. In the recent years as the world of business grow and many companies are coming up in the market with great way of working on the process in the most innovative and automated way and even outsourcing some HR Processes. For this, the companies are now engaging with the third-party payroll outsourcing, this helps in focusing more on other HR activities other than payroll. The engagement of organization with 3rd Party Payroll Services is beneficial for both organization as well as the employees. For the organization this is the most obvious succulent process and allows the company with efficient time for their economic decisions as well as their overall functionalities. People often ask a very common question Is it good to work on third party payroll?

For the Candidates, in order to get the offers from the best renowned companies one has to get on roll with third party. Other reasons why the candidates can opt for being on third party payroll is that the job will be on stake always as it is on contract. Your payroll is managed by the third-party company who is supported by HR Professionals so in this case, you get your pay on time without doing lots of follow up. Also, your salary and leave are being managed by the third party. HR Consultancy firm who provide third-party payroll job providers, to basically take employees on their payroll but the candidate will work at the company’s location because it helps to reduce the cost and time taken for hiring a trained employee as well as the cost of software. Instead of focusing on just payroll processing, there are certain providers that have a more holistic approach to employee management. Your company may be able to avail income tax returns filing, temp staffing, statutory compliance, leave management, and a host of other services from the same provider. This is the reason why people ask question like Is it good to work on third party payroll?. Find out what is included, what is not, and how much extra you need to pay if you decide to utilize them. Third party payroll companies benefits outweigh the disadvantages by a mile. Studies show that outsourcing payroll cuts company costs by 18% compared to in- house payroll processing. Moreover, you can rest easy and leave the hard work to the experts while you concentrate on the core functions of your business. However, since you are looking for a long-term reliable solution for your payroll needs, it is important that you do your research properly and invest your time and money in an efficient service provider. It is crucial to gain an understanding of the type of technology that your third party payroll companies use, the type of features that it has, and what it can achieve. Outdated software will double the workload and can be difficult to personalize as per your company's requirements.

The key features to look for are functionality and scalability. It should be possible for you to seamlessly integrate the software with your current system and change it as per the growing needs of your company. Choose third party payroll companies with advanced user-friendly systems that are cloud-based. An online self-service portal with dedicated servers and perhaps an easy mobile app for employees would be extremely beneficial. For smaller firms or companies, managing an internal payroll might be difficult. In particular, businesses opt to outsource for the following main reasons:
1. It saves money
2. Ease of ongoing administrative payroll through personnel changes, a wage cut or raise, etc.
3. Errors and fines associated with tax compliance are reduced.
 
Payroll processing in- house is an administrative duty that expands with your company but is unrelated to earnings. Payroll service providers offers a range of services including processing payroll, monitoring compliance, managing time sheets and pay conditions, responding to employee inquiries and creating reports. By using an outsourced payroll solutions, you have access to professionals who can address employee concerns, allowing your staff to concentrate on business operations rather than payroll to maintain minimum pay rates and wage conditions, the modern corporation functions with a workforce that is a mixture of the full- time, part- time, contractor and casual employees. So the question Is it good to work on third party payroll? have many relevant answers.

Seven Consultancy in Mumbai provides the specialized service of Third party payroll. Journey of Seven Consultancy started in 2007. Now it has crossed many milestones and added many feathers in its crown. Currently having operation in different cities of India and abroad to provide solution to the Human resource domain to our clients. It made us trusted HR Consultancy in Mumbai, Navi Mumbai and Thane. We provide not only resource recruitment services but also a complete solutions related to all the activities of Human Resource Management. We are one of the Top Third Party Payroll Service Provider in India.