RFP for engagement of consulting agency for payroll processing & related compliance services for BIRAC

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About the Organization

Biotechnology Industry Research Assistance Council (BIRAC), is a Public sector undertaking registered under the Indian Companies Act 2013 as a Section 8 ‘Not for profit Company’, as an interface agency of DBT, Ministry of Science & Technology, BIRAC was set up with a vision to stimulate, foster and enhance the strategic research and innovation capabilities of the Indian biotech industry particularly SME's, to make India globally competitive in biotech innovation and entrepreneurship and to create affordable products and services.

About the Proposal

At present BIRAC has approximately 90 employees including Contract of Services, Contract for Services, Consultants etc. BIRAC intends to hire a professional Consulting Agency (hereinafter known as “Consultant”) for outsourcing day-to-day administration of monthly payroll and payroll compliances for the existing employees and new employees joined during the period of contract.

BIRAC invites bids from bidders who have experience in payroll processing & related compliance services for Office/s of Biotechnology Industry Research Assistance Council (BIRAC) at New Delhi.

Scope of Work

The Consultant shall Manage/administer the payroll in compliance with all statutory requirements including but not limited to the following activities:

• Give recommendation and professional advice for designing and developing salary structure based on the remuneration scales provided by BIRAC and the corresponding Payroll Schedule, wherever required.
• Take appropriate inputs and provide specific templates for direct upload of input data to the payroll system. The templates should be compatible with standard Human Resource Management system (HRMS) tool.
• Adherence of all statutory requirements with regard to PF, TDS, income tax, gratuity, EPS etc.as applicable.
• Conduct periodic variance checks and submit reports on deviations to BIRAC
• Adhere and maintain strict confidentiality and non-disclosure of payroll information except as provided for disclosure in the management framework.
• Provide comprehensive feedback and reconciliation process.
• Manage the reimbursements, claims, tax forecast, investment declarations, ancillary claims etc.
• Develop the alert modules and methods for investment declarations, statutory compliances etc. to lower the risk related to compliances and penalties.
• Provide a dedicated Employee Helpdesk or one point contact (e-mail) for resolution of staff's queries pertaining to payroll processing.
• Process relevant forms to the staff such as Form 16, Form 16A etc.
• Provide the “Full and Final “settlement process in the event of resignation, termination, superannuation etc. for payments, receipts, taxes or other dues.
• Assist BIRAC in responding to CAG, DPE & other statutory compliances/queries related to Payroll.
• Provide the back up of payroll data (including pay registers, pay slips, tax report, Form 16, etc.) in soft copy format after close of the financial year.
• Share the budget advisory, change in rate of statutory recovery etc. in relation of PF/TDS/Income tax and conduct tax planning sessions accordingly.
• Align with BIRAC’s HR / Finance & accounts Team to ensure correct and timely management of Payroll.
• Devote adequate time in a month to monitor all the compliances & provide feedback to the Management.
• Allow access and extend full cooperation to BIRAC or its authorized person(s) /agency to examine accounting records during the course of the Agreement or later, as deemed necessary by BIRAC.
• Undertake any other ancillary or incidental tasks; in relation to payroll.
• The data related to BIRAC is mandatorily required to be hosted on Server/Data centre located in India.

Eligibility

• The bidder shall be a legal entity, registered as a Company/LLP/ Society/partnership Agency / proprietorship Agency under respective acts in India
• The bidder must be registered in India with taxation and other administrative authorities
• The bidder should have provided similar services in the Government/Semi Govt. / Autonomous Bodies/PSUs/Reputed organization for at-least 05 [Five] immediately preceding years
• The bidder has to be profitable and should not have incurred loss in three consecutive FY (FY 2020-21, and 2021-22 and 2022-23)
• The bidder should have been competed similar kind of work in any two Central Govt./State Govt./PSUs/Govt. bodies in India in preceding five years
• The bidder should not have been blacklisted by any Central /State Government/Public Sector Undertaking, Govt. of India.
• The bidder must have an established office in Delhi/NCR.
• The bidder should not be involved in any major litigation that may have an impact of affecting or compromising the delivery of services as required under this Bid and in the execution of agreement
• The bidder should not have pre-exited or terminated any contract with or by BIRAC in last 05 years as on the date of submission

How to Apply

Last Date & Time for Submission of BID: 01st April 2024 by 02:00 PM.

Bidders are requested to go through all pre-qualification requirements, scope of work for execution & requirements w.r.t technical/financial capabilities for acceptance and submission of documents for verification by BIRAC. Bids are to be submitted in sealed covers.

The sealed envelope should be addressed to:

Head- HR & Administration Biotechnology Industry Research Assistance Council (BIRAC) 5th Floor, NSIC Business Park, NSIC Bhawan, Okhla Industrial Estate, New Delhi – 110020

For more information please check the Link

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Tags Innovations and Technology Research Others