Small sized Company: GRO BIG
'Veritech' understands that how difficult it is to stay in business in this competitive world. Achieving success is just another story after survival. The most crucial stage of any business is its initial growth stage. There is a necessity for HR outsourcing in growing businesses and that these companies are aware of this need. 'Veritech' has been successful at providing a win-win situation to clients across various industries and business size. Clients concentrate on what they do best and partner with us for what we do best.

GRO BIG includes the following modules:
Leave Management
Understanding business needs through interviews with top management and major functions, and analysing key business parameters and strategy elements.Manpower Planning consists of putting the right number and kind of people, at the right place & right time and doing the right things for which they are suited for achieving the goals of the organization.
Leave Management
Investment Audit
  • Auditing the Tax Saving Documents received from the employees for completeness and compliance as per the Tax regulatory laws.
  • Advising applicability of TDS provisions on salaries income upon investing in various tax saving instruments
  • Mailing the Audit Reports to the concerned department so that, wherever the documents are not in order, employees can resubmit additional investment proof.
  • Computing and preparing the draft Tax Computations once the documents are complete so that employees can review their TDS outflow based on actual investment proof submitted.
  • Preparation of Annual Tax Statements for filing of e-TDS returns.
  • Preparation of TDS Certificates in prescribed formats (Form16 (Part B)) for all the employees.
  • Determining Shortfall of TDS deducted for employees absconding mid-year.
Leave Management
Re-imbursements / Flexi Components
Reimbursements are generally paid as an out of payslip payment on submission of bills by the employee on a monthly basis. Reimbursements are normally a part of the CTC of the employee but these payments would be done only on the submission of the bills & the entitlement of the employee. The reimbursement process runs separately from the normal payroll process. This process is also termed as "Flexi Reimbursement Process". An employee can opt in/out of the flexi at the time of his/her joining and at the time of increment. These payments would be done in 2 ways as follows:

Leave Management
Leave Management will be easier than ever before for your business, your HR team and managers, and your employees. 'Veritech' LMS allows employees to holistically maintain leave data and information, apply for leave and get approval from their managers through an extensive set of user-defined parameters, available in the application. The same is available on mobile devices and helps increase productivity by providing access anywhere, anytime.

Poor Leave management has a bad impact on business performance. It can impact project deliveries and employee morale negatively. 'Veritech' empowers you to manage employees more strategically.
Leave Management
"Exit Process"- 'Veritech' helps to improve the workplace and increase engagement, with an exit interview process that yields good results. It includes a solid plan to review and act on those results generated from the Exit interview. Based on the Exit Process, a positive change is incorporated which can decrease the attrition level.

"Full and Final Settlement"- 'Veritech' helps in the procedure of paying or recovering the final dues during the resignation process. Final settlement can be done on the last working payroll month or in the subsequent months. The employee’s dues can be settled first and then the resignation can be effected or the employee can resign and then the Company can give effect to the final settlement at a later date. The Full & Final Settlement Calculation is calculated taking into account the loan balance of the employees, Notice Period Payable and based on the leave balance and the Leave Encashment.