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Superannuation
Also, we cater a few additional services to our esteemed clients, which includes:
SUPERANNUATION (DEFINED CONTRIBUTION) – SELF ADMINISTERED – SCOPE OF WORK
Administration
Accounting
Monthly BRS, Final accounts – trial balance, balance sheet, P&L, and schedules
Coordination with auditors for audits
Data to be provided for actuarial valuation as and when required
Recordkeeping
Maintaining backup documents until the audit
Coordinating banking about trust accounts
Taxation
Deducting TDS as per statute
Generation of Form 16 and Form 24Q per statute for the applicable quarter/year (excludes forms/returns preparation beyond 3 months post statutory date)
Investments – Back Office
Tracking of interest due on investments/redemptions and follow-up for closures
Submit income tax recognition certificates to the issuers for the avoidance of tax on interest
Execution of investment deal after the trustees’ approval
Regulatory Compliance
Periodic SSAE 16 – Type II report (Inclusive of BCP and DR plans)
SUPERANNUATION – (DEFINED CONTRIBUTION) LIC ADMINISTERED – SCOPE OF WORK
Administration
Database management
Preparation of covering letter and forwarding the same to LIC
Employee query management through Email, and voice support
Liasoning with government authorities
SAF Management automation to establish control and visibility of the process
Follow-up with LIC for Transfer ins (through reminder letters for specific cases upon Client’s request)
Online portal access to employee and employer to view balance and application status
Audits
Data to be provided for actuarial valuation as and when required
Recordkeeping
All types of applications to be submitted by the employee through an online portal
Other Services
Coordinate with LIC for annual statement
Follow-up with LIC for specific cases upon Client’s request