Changing jobs is common among employees as they are always looking for better opportunities. Sometimes, they can be unhappy with their current job, which leads them to switch jobs. In such cases, the problem arises of how to transfer EPF account from the previous employer to the current employer. So, if you are facing the same problem, this article is meant to help you.
When changing jobs, employees have two options regarding their PF accounts. The first option is that they can close the old EPF account and withdraw the amount and make a new one with their new employer. The second option is to transfer the account from the old employer to the current employer.
Why should you transfer your EPF account?
It is recommended for an employee to choose the second option, that is, to transfer the EPF account and the funds from the previous employer to the new one. This is so because these funds will be of use to you for your retirement plans. EPF is a safe long-term investment for retirement and you should try to keep the funds for your retirement rather than withdrawing them now.
Step-by-step process to transfer EPF account from one employer to another
An employee might need to change jobs due to a myriad of reasons. On such an occasion, they may feel like the transfer process of their EPF account can be a challenge. Well, it is not that hard and you can easily do it in a few simple steps. Here is how you can do it:
Step 1: Checking Eligibility
For transferring your EPF money online from one account to another, it is important to first check your eligibility. You can do so by going to the website – www.epfindia.gov.in and then opening the Online Transfer Claim Portal (OTCP) under the category FOR EMPLOYEES, which you will find on the homepage.
If you see that you are eligible for the online transfer, then you need to register as a member on the portal, if not already registered. After this, you can simply log in with your details on the Online Transfer Claim Application. Once you are logged in, click on the Request for Transfer of account option. This will file an online Transfer Claim.
You have to ensure that either your previous or new employer has a digital signature. Also, you must have the previous and the new employers’ PF details with you.
Step 2: Filling Application Form
When you have filed the online Transfer Claim, you can now fill in the application form. The application form for transferring your EPF account is divided into three parts: Part A, B, and C.
In Part A, you need to fill in all your personal details such as name, mobile number, bank account number, etc.
In Part B, you will have to enter the details of your previous employer. Upon entering the PF account number and clicking on the option that reads click here to get details, you will see all the details related to your previous employer. But if you see that any of the information is missing, you must fill them in manually.
In Part C, you will need to enter the details of your current employer. Same as in Part B, you can enter the PF account number of your new employer and all their details will appear on the screen. And if any of them are missing, fill them manually.
Now, after filling in these details, you must remember to claim attestation. The application will show you options of either getting it attested through the previous employer or the current employer. You have to choose either of these two options.
The employer will get the notification on their email as well as on their EPF portal. Once your employer verifies your application, it will be sent to the EPFO.
After completing the application, you can see the preview of the entire form. You can change the details if you find anything is missing or is incorrect by clicking on “To change application data, click here.”
Step 3: Submitting the application form
Now you will see a Captcha code appear on your screen, type it in the box and then click on the GET PIN button. Before going ahead, you also need to confirm your assent by clicking on the I Agree button.
Then you will receive the PIN on your registered mobile number, which you will need to enter on the application. After submitting this, your online transfer process is officially completed.
Step 4: Tracking the transfer status
After you have successfully submitted the application, a tracking number will be generated. Using this tracking number, you are able to track your online transfer application.
You need to print it out, sign it, and send it to your previous or current employer, whoever you had chosen to complete the transfer application.
It takes approximately 30-60 days for the transfer process to be completed. Using this portal, even your employer can view, verify or change, and submit the online transfer application.
As an employee, changing jobs is a natural part of their career. Most of the employees change their jobs at least once in their careers. Thus, it is important for employees to be able to transfer their PF account from their previous employer to the current one whenever they change jobs. The sooner they do it, the better it will be for them since you may need to contact your old employer and get their details and verification on your transfer form.
If you decide to withdraw your funds, you should remember that withdrawing funds within five years of employment is liable to tax. If you leave your funds lying in different EPF accounts, it can be a huge problem to access all your funds when you need them or when you retire.
Every EPFO subscriber is provided with an online EPF passbook. The passbook contains information about the amount of money contributed each month by the employer and the employee to the PF account. This passbook can be accessed online as well as offline to check EPF balance.
However, in this article, we will talk about all of the ways available in which you can check your EPF balance. There are four simple ways to do so and they are as follows:
Viewing and downloading passbook from the EPFO web portal
Using the UMANG app
Sending an SMS from your registered mobile number
Giving a missed call from your registered mobile
We will discuss all of these methods in detail here, so make sure you read through this article.
1. Check EPF balance through EPFO web portal
The balance of your EPF account can be checked on the EPF passbook available through the EPFO web portal. Here are the steps listed that you can follow to check your balance:
Step 2: From the drop-down menu, you need to select the option ‘FOR EMPLOYEES’.
Step 3: On the next webpage, you need to click on the ‘Member Passbook’ option under the ‘Services’ section.
Step 4: You will be redirected to the login page where you need to enter your UAN number and password for logging into the portal.
Step 5: Once you have successfully logged in, you will see your Member ID or Member IDs (in case you have more than one) displayed on the screen. Select the relevant Member ID and click on the “View Passbook” option which will open your EPF account passbook on the screen.
On the passbook, you can easily find your balance displayed. Now you can either just view it, download it, or even print it out.
2. How to Check EPF Balance Using the UMANG app
Any EPFO member can install the UMANG app on their phone and use it to check their EPF balance online. ‘UMANG’ is a government centralised app, which stands for Unified Application for New-age Governance, and is available on the Google Play Store as well as on the Apple App Store.
Before installing the app, make sure that you are registered with the UAN. For using the app, the user has to register their mobile number, the same one which is linked to the UAN. Here is how you can view your EPF balance on the UMANG app:
Step 1: The first step is to install the UMANG app from Google Play Store or Apple App Store and once installed, open it.
Step 2: On the home screen, you need to find the EPFO option and tap on it.
Step 3: Then on the next screen, you need to tap on the ‘Employee Centric Services’ option.
Step 4: This will open a new screen where you need to choose the ‘View Passbook’ button.
Step 5: Then the app will ask you to enter the UAN. After entering your Unique Account Number (UAN), you have to tap on the ‘Get OTP’ button. This will send an OTP to your registered mobile number. Enter the OTP in the blank given and select the blue coloured ‘Login’ button.
Step 6: Then you will see your Member ID or Member IDs (if you have multiple). You need to select the appropriate Member ID.
Step 7: After this, your passbook will open on your mobile screen and you can check your EPF balance here.
3. SMS Method
It is possible to obtain your EPF account balance by sending an SMS to 7738299899 from your registered mobile number. The format of the SMS should be like this:
EPFOHO UAN ENG
Here, ENG stands for English and it means that your preferred language to check EPF balance is English. For Hindi, you can type HIN. Apart from Hindi and English, this SMS facility currently is available in Marathi, Bengali, Gujarati, Punjabi, Telugu, Tamil, Kannada, and Malayalam.
For example, if your UAN number is 123456 and your language of preference is Hindi, then you will have to send this SMS: “EPFOHO 123456 HIN”.
4. Missed Call Method
This is possibly the easiest way to check EPF balance. You can check the EPF account balance simply by giving a missed call to 011-22901406 from your registered mobile number.
To use this method, you must be registered with UAN, the mobile number that you are using to give the missed call must be linked to the UAN. Additionally, the UAN should also be linked to other documents such as Bank Account, Aadhaar, and PAN.
Hence, the various ways described above can help you in knowing your EPF balance. If the establishment where you work is a private trust or an exempted establishment, the EPF contribution is transferred to the trusts managed by the organisation and not to the EPF. In such a case, you can get the details about your PF balance only from the trust managed by the company.
All EPF members must know how to generate UAN number(Universal Account Number) because it is required to have access to the EPFO web portal. Using this unique 12-digit number, the EPF subscribers can easily check the details of their PF account including the contributions made to their account and the balance on the EPFO portal.
An EPF subscriber can have multiple Member Identification Numbers (Member IDs) but UAN remains the same for each Member Id. If you are an EPF member and do not know how to generate and activate UAN, we have curated a step-by-step guide for you here.
Documents required to register for UAN
You will need the following documents in order to generate your Universal Account Number (UAN):
ID proof in the form of driving license or passport of voter ID.
Address proof in the form of ration card, rental agreement, or any utility bill in your name.
Bank account details such as bank account number, branch details, IFSC code.
Employee State Insurance Corporation (ESIC) card
How to generate UAN number – Step by Step (For employers)
UAN can be generated easily and quickly on the EPFO employer portal if the employer’s establishment is already registered through Shram Suvidha Portal. Here are the steps that the employer has to follow for registering their employees for UAN:
Sign In’, you need to sign in using your establishment ID and password.
Next, you need to click on the ‘Register Individual’ tab, located in the ‘Member’ section.
On the resulting webpage, you can fill in the employee information such as their PAN, Aadhar, bank details, etc. Once you are finished, you need to approve all the filled-in information in the ‘Approval’ section.
This will generate a UAN for your employees that can be easily linked to their PF account.
How to obtain your UAN number as an employee
The UAN for employees has to be informed to the employee by the employer. But in case, it is not possible, employees can also obtain their UAN from the EPFO portal. So, if you are an employee who wants to obtain their UAN, follow these steps mentioned below:
You will need to fill in your information on this webpage including your name, date of birth, mobile number, email id (optional), captcha, and your Member ID or Aadhaar or PAN. Then click on the ‘Get Authorization Pin’ button to receive the Pin on your registered mobile number.
Enter the Pin received on your mobile number and click on the ‘Activate UAN’ button.
Thus, at the end of this process, your UAN will become active. After the activation process is completed, you will receive a password on your registered mobile number. You have the option to change this password if you want.
Now, you can use your UAN and the password on the EPFO member portal and view your EPF passbook. The passbook will show you all your account details such as your balance and the contributions made by you and your employer.
How to link Aadhaar to UAN
There are two ways for linking your Aadhaar to your UAN. One way is online and the other is offline. Let’s take a look at both the procedures so that you can choose whichever is more convenient for you.
Go to the EPF Member portal. Sign in using your UAN and password.
Go to the ‘Manage’ tab, where you will need to select the ‘KYC’ option.
Then, you need to select the ‘Aadhaar’ option.
Then you will be asked to enter some details such as your name and Aadhaar number.
Once you have entered the required information, click on the ‘Save’ button.
This will successfully link your Aadhaar to your UAN and you will see the ‘verified’ status next to your Aadhaar number.
The offline method requires you to visit any of the EPFO’s branches or Aadhaar CSE (Common Service Centre). When you go there, you will have to submit a request form along with a self-attested copy of your Aadhaar card.
When your Aadhaar is linked to UAN, you will receive a message on your registered mobile number, notifying you about the same.
UAN is the most essential part of the Employee Provident Fund as it gives you access to EPF passbook facility. Therefore, it is important that as an employee, your Universal Account Number is generated and activated so that you can use it for keeping a tab on your PF account balance.
An essential saving tool in the country right now, EPF is something that every salaried worker in the country should be aware of. It is a scheme managed by the EPFO under the Employees’ Provident Funds and Miscellaneous Provisions Act, 1952.
If you are not well-versed with the scheme, then you have come to the right place. Through this article, we aim to present all the details about EPF, from its eligibility to checking your EPF passbook online. So, read further if you are interested in these topics.
What is EPF?
EPF or Employee Provident Fund is a scheme that requires monetary contributions from employees and employers every month. When the employees retire from their jobs or if they leave the job due to a temporary or permanent disability, they are entitled to the money in their EPF.
This is a tax-free investment made towards your retirement. The investments made by the employees across India towards this fund are combined together and invested by a trust.
As mentioned above, it is created by the Employees Provident Fund Organization (EPFO) of India. It is a statutory body of the Indian Government, running under the Labour and Employment Ministry. According to this scheme, any organization with 20 or more permanent employees that are working in any of the 180+ industries should be registered with the EPFO.
The monthly contributions go into these three schemes under the EPF Act of 1952:
The eligibility criteria for EPF is discussed below:
Salaried workers who have a Basic plus Dearness Allowance less than Rs. 15,000 in a month are eligible for the EPF scheme. Their employers are required by the law to open an EPF account for such employees.
Firms that have 20 or more employees are eligible for the scheme and the law demands their registration for the EPF scheme. Organizations with less than 20 employees also have the option to register voluntarily.
Employees with a monthly salary of more than Rs. 15,000 per month are non-eligible for the EPF. Although it is not compulsory for them to become members of the EPF, they can still register with the consent of their employer and approval from the Assistant PF Commissioner.
Benefits of PF
The Provident Fund Scheme comes with a number of benefits for the employees:
High Interest – You will earn an interest rate of 8-9% on your EPF amount. This high interest rate will play a crucial role in your retirement plans.
Not liable to tax – EPF falls under the category of EEE (Exempt Exempt Exempt). This refers to the money invested in EPF, the interest earned, and the money withdrawn–they are all exempted from tax.
Less Risky – Investing in EPF comes with very low risks as compared to other investment options. It provides a safe way of investing your money that is supported by the government.
Life Insurance – You also get the advantage of life insurance with EPF. Following the death of the employee, the EPF amount will be granted to the family.
Convenience – Registering your EPF account and generating your UAN is a one-time process and is incredibly easy. If you change your jobs, it can be transferred to your new employer and you do not need to register all over again. You are also able to conveniently access your EPF account and EPF passbook.
Employee and employer contribution
The employee and the employer have to contribute differently to the EPF. The contribution of an employee goes directly to the EPF. On the other hand, the contribution of the employee goes into the EPF, the EPS, and the EDLIS. Let’s take a look at their contribution breakup:
12% of an employee’s salary goes to the EPF
3.67% goes to the EPF
8.33% goes to the EPS
0.5% goes to the EDLIS
0.01% for EDLIS Administrative Charges
0.85% for EPF Administrative Charges
Therefore, it is clear that an employee does not need to contribute to the life insurance premium charges as it is handled by the employer. An employee’s contribution goes straight and exclusively towards their EPF and pension. The administrative charges for both EPF and EDLIS also need to be borne by the employers.
Here is an example to make you understand this better:
Consider a situation where an employer earns a monthly salary of Rs 14,000, which falls under the eligibility criteria for EPF (below 15,000).
12% of Rs 14,000
8.33% of Rs 14,000
3.67% of Rs 14,000
What is the UAN?
UAN or Universal Account Number is a 12-digit number provided to all the employees enrolled in the EPF scheme. The number is unique and permanent for each employee and does not change even when someone changes their job.
How to generate and activate UAN?
In order to generate the UAN, the members need to log in to the EPFO website with their credentials. After they have logged in, they can register their UAN which can be easily linked to their PF account.
After the UAN has been generated, it can be activated at the UAN eSewa portal using the employee’s PAN card or Aadhar Card or Member ID.
Following the activation of UAN, the members can use it to avail the EPF passbook service and know the details of their EPF account.
How to transfer EPF account from one employer to another
In case, an employee changes their job due to any reason, they are required to transfer their EPF account from the previous employer to the new one. It is a simple process and can be done online on the EPF website – www.epfindia.gov.in.
When you visit the website, all you need to do is open the Online Transfer Claim Portal (OTCP) under the category “FOR EMPLOYEES” and then fill in the Online Transfer Claim application. This application contains many parts, so make sure to fill in all the parts carefully.
Before submitting the application, it needs to be verified by your employer, either previous or current one. It will take around 30-60 days for the completion of the transfer process.
Tax on EPF
According to the law, both the employer and the employee needed to contribute to the EPF. Employer contributions up to 12% of their wages up to 12% were exempted from tax and contributions exceeding 12% were liable to tax.
During Budget 2021, Finance Minister of India, Nirmala Sitharaman announced that interest earned on the EPF contributions above Rs 2.5 lakh will be taxable from 1 April, 2021. In her speech, Sitharaman said, “in order to rationalise tax exemption for the income earned by high-income employees, it is proposed to restrict tax exemption for the interest income earned on the employees’ contribution to various provident funds to the annual contribution of Rs 2.5 lakh”.
This new law is aimed at taxing high-value contributors in the EPF. For people earning more than Rs 20.83 lakh a year, their interest earned on EPF contribution will be taxed.
How to check EPF passbook online
An employee or employer can easily check their EPF passbook online and view their contribution as well as their latest balance. They can go to the website: http://members.epfoservices.in/ and complete the registration process.
Once registered, they can log in using their new login credentials received on their registered mobile number. Then, they can download their passbook by clicking on the Download E Passbook option. Before downloading the PDF version, they will be asked to select the state of the establishment where they work and also the EPFO office. They will also have to enter the Authorization PIN that will be sent to their mobile number as well as their email id.
Once downloaded, the PDF file of the EPF passbook can be opened to view the details of the contribution and the latest balance.
Checking EPF balance
The EPF balance can be checked on the PDF file of the EPF passbook downloaded through the above steps. However, there are other ways to check your EPF balance as well if you have a UAN number. Here are the two ways you can check your EPF balance using your mobile.
It is possible to obtain your EPF account balance by sending an SMS to 7738299899 from your registered mobile number. The format of the SMS should be like this:
EPFOHO UAN ENG
Missed Call Method
You can also check the account balance by giving a missed call to 011-22901406 from your registered mobile number.
How to withdraw EPF balance
For withdrawal of part of EPF before retirement, workers will have to fill a form online. This is only possible under certain conditions and occasions. They will have to fulfil these conditions and specify the occasion for which they need to withdraw from their EPF account.
The occasions for withdrawal of EPF include marriage, education, repayment of home loan, repairing the house, construction of a house or purchase of a house or a flat, and medical treatment. Under each of these occasions, certain conditions have been specified that have to be fulfilled before you can think about filling the withdrawal form online.
In case, all the required conditions have been met, the withdrawal can be processed by submitting the Composite Claim Form online. This form now includes the option of self-certification which means that you do not have to attach any additional documents with the form. The form just needs to be signed by the EPF subscriber which will confirm that they have fulfilled all the conditions.
When you go to log in, you can click on the ‘Forgot Password’ option and then fill in the details along with the UAN number and Captcha Code. When you come across the prompt, ‘Do you wish to send OTP on the above mobile number?”, you need to select the ‘No’ option, verify your details, and then click on ‘Proceed’.
Can you opt out of PF?
Many people wonder about opting out of PF because opting out will result in bigger take-home pay and can lead to better investment opportunities. The short answer is yes, you can opt out of PF, but only under certain conditions. If you are an employee, you can opt out only if the following conditions are fulfilled:
You are a first-time employee which means you are joining your first job.
Your Basic + DA (PF Wages) is more than Rs 15,000 per month.
While changing jobs, you do not have an existing PF account number.
So, if you meet the above-mentioned criteria, you can opt out of PF by filling out Form 11 when joining your first job. In addition to this, you are also requested to write a letter addressed to your employer telling them that you wish to opt out of the PF scheme. Keep in mind that once you make a single contribution to PF, the option to opt out of PF will no longer be available.
If you move out of India, you are not obliged to make a contribution to PF and you have the option to opt out. However, if an employee is working in a country with which India has a bilateral Social Security Agreement, they can get a CoC (Certificate of Coverage) from EPFO and get exempted from contributing towards the Social Security Scheme of the host country.
EPFO has launched a Whatsapp helpline service in 2020 to assist people with their grievances in a fast and convenient manner. This facility is now available among other means of grievance redressal facilities of EPFO including social media platforms (EPFO & Twitter), EPFiGMS portal, CPGRAMS, along with a 24×7 helpline. This decision has been taken under the light of COVID-19 pandemic in order to provide continued support to EPF subscribers.
Hence, we hope that this guide was helpful to you in providing all the necessary information you needed to understand about the EPF. The Employee Provident Fund Scheme was created by the government of India for the benefit of the employees. So, employees need to understand the EPF scheme and how it can help them in planning their retirement or in emergency situations when they need some financial assistance.
SMEs or Small-Medium Enterprises has grown to be a crucial sector for the development of the country. It has strengthened the country’s economic progress and international standing and has generated millions of jobs for the countrymen. Apart from this, it has promoted industrial development in rural areas and contributed to the production of a diverse range of products.
The Ministry of SMEs states that the sector has contributed approximately 40% of the manufacturing output and contributes about 29% towards the GDP through its national and international trade. It is also responsible for creating more job opportunities both in rural and urban areas of India.
Due to such contributions to the country’s economic development, it is imperative that the SMEs receive constant support from the government so that they can reach their full potential. Some work also needs to be done on their internal structure, processes, and practices in order to keep up their growth.
Let’s take a look at the challenges for HR in the SMEs sector:
Absence of a well-defined HR department in SMEs
A significant amount of challenges for HR that SMEs in India have to face can be traced to the lack of a suitable HR department. Confederation of Indian Industries conducted a survey which revealed that 20% of medium and 80% of small-sized enterprises are lacking well-defined HR departments in their workforce.This is a concerning issue and must be addressed by the government and the business community alike.
The reasons behind the lack of a well-defined HR department in SMEs in India can be many, the primary being the budget restrictions. Most of the small and medium-sized businesses do not have enough budget to afford an HR department. Maintaining a proper HR department is a highly expensive endeavour in the eyes of small business owners because they think they will have to pay handsome salaries to the department.
Another reason contributing to the lack of a human resources department is that there are many SME owners who do not feel the need to have an HR department because their teams are too small for that.
However, having an elaborate HR system from the starting stages of a business is extremely important to handle tasks such as talent acquisition, management, engagement, and creating policies related to remuneration and benefits of the employees. The presence of such a system has proven to increase the engagement and motivation level of the employees and consequently, the overall performance of the business.
Challenges for HR in Talent management
Another huge challenge faced by HR in the SME sector is managing the talent due to the following factors:
Finding and hiring the right ‘candidate’ has proven to be one of the biggest challenges for HR in small and medium-sized businesses. The talent pool for SMEs has always been quite lacking in enough qualified candidates that lead to inefficient hiring.
This is so because most of the highly qualified candidates are attracted more towards the big organizations. The SMEs do not have the adequate budget for proper branding to attract the candidates to their job vacancies. Thus, HR managers are struggling a lot to find suitable talent for SMEs.
The hiring process, overall, is also generally too expensive for a small and medium sized business.
It is crucial for organizations, especially small and medium-sized organizations to have a pool of skilled labour in order to succeed and grow their business exponentially. This requires proper induction and training. Due to the lack of digital support, SMEs are not able to perform proper induction and onboarding processes.
When it comes to training, large companies are taking the help of external experts to train and upskill their employees. SMEs, on the other hand, cannot afford external training for their employees.
Therefore, the HR of SMEs have the tough challenge to effectively onboard and upskill the workforce without exceeding the budget.
Lack of policy for appraisal and feedback
In small and medium-sized businesses, structures such as competency framework, values, job descriptions for different roles are not that well defined. Due to this, performance appraisals are also not very structured or documented.
The managers of SMEs are always busy with loads of work and are not trained to tackle performance evaluations. The main objectives of SMEs mostly include growth and scale and so, the process of assessments often gets ignored.
Moreover, tracking employee performance is also lacking in SMEs. This makes it difficult for managers to distinguish between high-performing and low-performing employees.
The HR managers have to deal with these issues but they do not have the suitable resources for their proper handling.
A major issue for HR managers is the retention of employees in SMEs. The junior level of employees is highly in flux as they tend to move from one job to another frequently. This level generally consists of electricians or field sales people. HR faces a lot of difficulty in trying to retain such workers. Moreover, these workers tend to quit without prior notice, making it incredibly difficult for HR to fill out vacant positions.
At middle and senior levels, the challenge is to keep the employees engaged. If these employees do not see many growth opportunities in the foreseeable future, they may lose interest in their job and think of quitting. Therefore, HR has to keep track and make sure that their engagement levels are maintained consistently. This requires coming up with ideas as to how the engagement of the employees can be increased, which is not an easy task.
Keeping up with the latest technology and innovation
Another issue that has emerged for HR in SMEs recently, is staying abreast with the latest technological advancements. Technology has continued to evolve rapidly in the last couple of decades and SMEs have struggled with that due to budgetary constraints. The responsibility falls on HR to incorporate as much of the necessary technology as possible in the company without breaking the budget.
The employees also need to be made well-versed with the technology used in the company. This can be a challenge for HR when the employees are resistant to change and the HR then has to explain to them the need for the technology. Therefore, HR again has to work hard for the proper adoption of technology in the company.
Statutory and Labour Compliance
There are laws regarding hiring practices, wages, taxes, sick leave, and workplace safety. Staying abreast of these ever-changing laws and regulations can be a time-consuming task. Without a proper HR department, in charge of keeping track of changing laws and making sure they are complied with, SMEs often struggle with legal compliance making it one of the major challenges for HR.
If they are not followed properly, it can lead to hefty fines and can be a hassle for the company. Paying these fines alone can drive a company out of business. Hence, it is essential for companies to comply with the laws in order to avoid this.
An effective HR management is necessary for the proper functioning of small and medium-sized enterprises. HR has to take care of innumerable responsibilities including recruitment, training, managing compliance with company policies, etc. Thus, effective HR management for SMEs is the need of the hour to overcome challenges for HR and the earlier the owners understand that, the better.
An effective HR management is essential as it ensures that the company is recruiting and retaining the talent that is most suited for the company. This is how a business is led on the path of growth and development – through the efficiency of its workforce.
Due to these reasons, Workex is here to help such firms overcome their challenges for HR and boost their development. We at Workex provide SMEs with many HR services such as staff management, payroll management and processing, attendance and leave tracking and management of statutory compliance.
The only thing required from companies is that they onboard their employees to our online system. Then their employees can use our system for marking their attendance and leaves. The rest will be taken care of by us, from filing taxes to processing payroll.
So, if you are an SME owner or manager and facing similar challenges as mentioned in this article, contact Workex and we will provide you assistance.