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Financial and Accounting Outsourcing Solutions
Florence Fennel provides clients with a total Financial and Accounting Outsourcing solutions.
- Human Resources
- General Accounting
- PF Trust & Return
- Regional PF Commissioner (RPFC)
- Superannuation
- Gratuity
- Accounts Receivable
- Accounts Payables
- Tax Returns
- Reconciliation
- Billing Services
- Transactions Processing
- Miscellaneous Repetitive Transactions
PF Outsourcing
Primary Benefits of Setting of a PF Trust
- Easy Loan Facility
- Settlement of Account
- Easy Transfer of PF New Employees
- Better Services
- Better Employee Satisfaction
- Minimum Cost to the Company
- Automatic Transfer of Old Contributions to the Trust
Regional PF Commissioner (RPFC)
- Filing of necessary papers and obtaining PF Number.
- Deposition of PF
- Claim Settlements
- Contribution Withdrawals
- Receipt of form from new appointees and sending the same to their concerned authorities for getting the fund transferred.
- Sending reminders on a regular basis until the transfers are affected.
- Receipt and despatch of settlement forms with the RPFC.
- Maintenance of statutory register.
- Preparation of Annual return.
- Liaison with the RPFC
Monthly Cash Flow
- After getting approval:
- Preparation of projected cash flows of the year with a monthly break up.
- Collection of quotation for investment as and when required.
- Getting approval from the trustees on monthly investments, settlements and withdrawals.
Investments
- After getting approval from Trustees, coordinating with the concerned broker and ensuring that timely investments are made.
- Getting investment certificate/getting investments deposited in the SGL account and keeping an updated record for special deposit in the form of updated passbook.
- Follow up on interest receivable before due date.
- Filing of Form 15H for non-deduction of TDS.
- Obtaining TDS Certificate in the Form of 15AA
PF Administration
Activities
- Preparation of monthly provident fund return.
- Preparation of accounts and maintenance of statutory register.
- Preparation of bank reconciliation statement.
- Filing claims for left employees for gratuity trust with LIC for gratuity recovery and remitting the account received by the trust to the company.
Quaterly
- Preparation of Minutes Book for meetings of Board of Trustee.
- Brief on trustees on investments and earnings on a quarterly basis.
Annual
- Preparation of balance sheets.
- Preparation and despatch of provident fund slips
- Preparation of FPF returns
- Submission of balance sheet in the provident fund Commissioner’s office.
- Filing of Income Tax returns.
- Filing of TDS returns
- Deposit premium in case of gratuity and superannuation trust.
TDS Outsourcing
Employee TDS
- Taking declarations.
- Updation of declaration on a monthly basis.
- Deposit of TDS after compilation.
- Deposit of quarterly return.
- Issue of Form 16.
- Checking Investment proofs.
- Interaction with employees.
Vendor TDS
- Checking bills of vendors
- Calculation of TDS
- Reconciliation of TDS payable account with deposit
- Generation and sending certificates monthly in Form 16A
- Deposit of quarterly returns
- Maintenance of TDS Certificate details and despatch
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