Frequently asked questions
• How comfortable are you with Indian taxation?
• How do you adhere to data security and confidentiality norms?
• Can you manage multi - city payrolls with statutory obligations?
• With what sized organizations can Topsource work?
• What is TopSource doing about reducing its carbon footprint?
• How long has TopSource been in business?
Portico™ Online Archive and Workflow System
• What documents are stored in Portico?
• What client services does Portico provide?
• How do I access my documents stored in Portico?
• Who can access Portico?
• In what format are the documents stored?
• Is Portico segmented?
General Enquires
• What is ex-gratia payment?
• What is encashment of leave balances (or leave encashment)?
• What is EMI?
• What are the different Provident Fund forms?
• What is TDS? (I)
Q) How comfortable are you with Indian taxation?
A)We have qualified Chartered Accountants with many years of functional experience in Indian taxation and we are confident of keeping it smooth for you.
Q) How do you adhere to data security and confidentiality norms?
A) We follow a very strict confidentiality policy. We understand the concerns related to salary data and to ensure the highest levels of secrecy, we sign Non Disclosure Agreements with the client as well as the team working on client's data.
Naturally, all processing is accomplished in full compliance with accounting best practices, using extensive quality control measures and electronic archival protection of all your source documents. Our fully redundant IT system and broadband connections via two separate providers ensure continuity in the event of power failure or other disruptive event, and actually increase the secure 24/7 access to all documents and data by authorized personnel at your company.
Q) Can you manage multi - city payrolls with statutory obligations?
A)We can manage multy - city payrolls. We have our Partners, empanelled consultants to take care of statutory obligations and the processing of salaries is centralized at our Pune centre.
Q) With what sized organizations can Topsource work?
A)TopSource can customize our services to benifit any size organization. This flexibility allows for more connection between the client and the TopSource team.
Q) What is TopSource doing about reducing its carbon footprint?
A) We encourage our clients to eliminate paper and transport costs by using our Portico™ Online Archive and Workflow System for all document storage. We also encourage the use of email payslips. At present, 10% of our payslips are sent by email. By 2009 we are targeting 50% of all TopSource payslips to be sent by email.
Q) How long has TopSource been in business?
A) TopSource was founded in December 2003.
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Q) What documents are stored in Portico?
A) All documents created and processed by the TopSource team, both in London and India, are automatically and securely stored in our password-protected online Portico servers. Your documents remain there indefinitely.
Q) What client services does Portico provide?
A) Portico provides round the clock access to all your documents by authorised personnel. Besides making access to archived documents more efficient, Portico allows decreased dependence on paper-based filing, saving you money and reducing your overall carbon footprint.
Q) How do I access my documents stored in Portico?
A) Portico is always accessible to authorised personnel from any web-ready computer in the world. This password-protected secure service allows unlimited contact with any necessary documents at any time.
Q) Who can access Portico?
A) Access to Portico is determined by the client. You can grant and restrict access to Portico to anyone based upon their need for the services provided.
Q) In what format are the documents stored?
A) Documents are scanned and stored on Portico in PDF format.
Q) Is Portico segmented?
A) Portico may be segmented based upon the requirements of the client. Payroll, accounting, and HR documents can be separated and organized for easy access.
Q) What is ex-gratia payment?
A) This is a type of bonus payment, usually given over and above the statutory provisions. The ex-gratia payments are taxable.
Q) What is encashment of leave balances (or leave encashment)?
A) In some organisations, employees can encash their leave balances after a certain point in time. The number of untaken holidays is paid in cash in lieu of holidays. When an employee leaves, the holiday balances to the employee 's credit are paid out in cash.
Q) What is EMI?
A) EMI stands for Equated Monthly Instalment. This is the amount paid every month as long as the loan amount is outstanding, which goes towards both the interest and principal.
Q) What are the different Provident Fund forms?
A) The following are some of he PF forms:
- Form 12 A – Return of Monthly contributions to the PF scheme
- Form 6A – Annual Contribution Report
- Form 5 – Details of new joiners to the PF Scheme
- Form 10 – Details of leavers of the PF Scheme
- Form 3A – Details of month-wise contribution by employee
Q) What is TDS? (I)
A) TDS stands for Tax Deducted at Source. Employers are required by statute to deduct the income tax on the gross earnings of employees. The tax is deducted and net salary is paid to the employees. The tax deduction is called tax deducted at source.
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