Payroll Reports

AUDITING SERVICES:

Statutory Audit — Mandatory for all private companies. SA 700 compliant reports with independent quality review (EQR) before finalization.
Tax Audit (Form 3CD) — Section 44AB compliance for turnover >₹1 crore or >₹10 crore (95%+ digital). Verified financial statements linked to income tax filing.
GST Audit (GSTR-9/9C) — Annual return for turnover >₹2 crore, reconciliation for >₹5 crore. ITC verification, fake ITC detection, GSTR-2B mismatch resolution.
Internal Audit & Controls — Risk-based testing per SA 315, fraud risk identification, control weakness reporting with remediation.
Trust & Charitable Audit — Form 10-B/10-BB compliance, Section 11 eligibility, charitable expenditure verification.
Compliance Audit — Statutory requirement verification across tax, corporate, GST domains with documented conclusions.

PAYROLL PROCESSING & COMPLIANCE:

Salary Structure Setup — 50% wage rule compliance (Basic + DA ≥ 50% CTC). Component restructuring for EPF, ESI, gratuity. Cost-benefit analysis.
Monthly Payroll Processing — Salary calculation with EPF (12%), ESI (0.75%), TDS (Section 392(1)), Professional Tax. Compliant payslips and bank disbursement.
Statutory Deposits — EPF by 15th, ESI by 15th, TDS by 7th, Professional Tax. ECR generation and APAR/12A annual returns.
Full & Final Settlement — Two-working-day wage settlement on exit, gratuity calculation, leave encashment, PF withdrawal processing.
Statutory Registers — Attendance, Wages, Leave, Welfare registers per Labour Code norms. Digital record-keeping (7-year retention).
Compliance Calendar — Monthly deadline tracking, quarterly/annual return filing, gratuity provision updates, multi-state coordination.

ACCOUNTING & FINANCIAL STATEMENTS:

Books of Accounts Preparation — Ledger maintenance, trial balance, bank reconciliation, inter-company transactions. Tally/QuickBooks integration.
Profit & Loss Account & Balance Sheet — Annual financial statements per Ind AS or Schedule III (Companies Act), notes to accounts, prior period comparison.
Cash Flow Statement — Operating, investing, financing cash flows. Working capital analysis. Cash shortage/surplus identification.
GST Reconciliation — GSTR-1, GSTR-2B, GSTR-3B alignment. ITC matching, credit reversals, advance receipt treatment. Monthly/quarterly reconciliation.
Bank Reconciliation — Monthly statement matching with ledger, uncleared cheques tracking, reconciliation aging report.
Ratio Analysis & Financial Health — Liquidity, solvency, profitability, efficiency ratios. Trend analysis, peer benchmarking, management insights.
Accounting Policy Documentation — Revenue recognition, inventory valuation, depreciation, provisions per Ind AS/Schedule III.
Tax Computation — Capital gains (Section 54, CGAS), deductions (Section 80C, 80D), TDS/TCS reconciliation, ITR linkage.

STATUTORY COMPLIANCE FRAMEWORK (SQC 1 & NEW LABOUR CODES):

✓ Engagement quality review by independent reviewer before all reports ✓ Ethical independence certification (no conflicts of interest) ✓ Professional competence (10+ years, CPD-compliant team) ✓ 50% wage rule compliance (Basic + DA ≥ 50% CTC effective Nov 2025) ✓ Gratuity eligibility for 1-year employees (reduced from 5 years) ✓ Two-working-day wage settlement on exit (Code on Wages) ✓ Digital record-keeping (7-year retention per Labour Codes) ✓ Income Tax Act 2025 compliance (Form 138, Form 130, Section 392(1) TDS) ✓ EPF 12%, ESI 0.75%-3.25%, TDS timely deposits ✓ GSTR-9/9C reconciliation for turnover >₹2 crore/>₹5 crore

KEY DEADLINES - FY 2025-26:
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Statutory Audit → 30 Sept | Tax Audit → 31 Oct | GST Return → Portal | Trust Audit → 30 Sept TDS Deposit → 7th | EPF/ESI → 15th | Form 130 to employees → 15 June

PENALTIES:
Statutory Audit: ₹1,50,000/day | Tax Audit: 0.5% turnover max ₹1,50,000 | Wage Default: ₹500-10,000/day | EPF/ESI/TDS Delay: 25% penalty + interest

DELIVERABLES:
Audited Financial Statements (P&L, Balance Sheet, Cash Flow, notes to accounts). Statutory Audit Report (UDIN-verified). Tax Audit Report (Form 3CD). GST Audit Report (GSTR-9/9C). Form 130 (TDS certificates). Monthly Payslips. Statutory Registers. Compliance Calendar. Banking Reconciliation. Tax Computation with schedules.