These services are normally solicited by the overseas companies not having their accounts department locally in India. Such overseas companies since they do not have their accounts department locally in India, the cheques or payment advise goes to their overseas office and from their after completing due process they send the cheque/payment advise in India which of late results in delay in payment of statutory dues.
Statutory dues being important and critical aspect of for HR as well as Finance department since non-payment of statutory dues or delay in payment of statutory dues would attract penal interest as well as damages from the respective departments and such delayed payment can also be DISALLOWED as ALLOWABLE BUSINESS EXPENDITURE while filing your Income Tax Returns and thus result in double whammy for the Employer. Overseas Companies having their liaison office in India can, therefore, count on us for remittance management at nominal fees.
