About Promise Consultancy
In an emerging outsource driven simplifying world, Promise Consultancy & Service s aspires to help businesses to simplify the process of Secretarial matters, Human Resource activities, maintenance of all statutory records, Accounting functions and documents to be in adherence to various Acts that the company would be coming under by assisting or completely taking over the record maintenance activities from the management as wished by the company.
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Microfinance refers to a variety of financial services that target low-income clients, particularly women. Since the clients of microfinance institutions (MFIs) have lower incomes and often have limited access to other financial services, microfinance products tend to be for smaller monetary amounts than traditional financial services. These services include loans, savings, insurance, and remittances. Microloans are given for a variety of purposes, frequently for microenterprise development. The diversity of products and services offered reflects the fact that the financial needs of individuals, households, and enterprises can change significantly over time, especially for those who live in poverty. Because of these varied needs, and because of the industry's focus on the poor, microfinance institutions often use non-traditional methodologies, such as group lending or other forms of collateral not employed by the formal financial sector.
MIX recognizes many general definitions of microfinance, but for analysis purposes, employs a functional definition:
Microfinance services – as opposed to financial services in general – are retail financial services that are relatively small in relation to the income of a typical individual. Specifically, the average outstanding balance of microfinance products is no greater than 250% of the average income per person (GNI per capita).
Microfinance institutions currently operate in over 100 countries, serving more than 92 million clients. To see the latest statistics on the microfinance industry and access in-depth data on microfinance institutions around the world.
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Services Offered
Human Resource Activities
We, at Promise Consultancy & Services, have a core HR team which has hands-on experience in HR activities and hence, we could fill the gap and make your HR process rolling smoothly month on month.
By this, we ensure that the following are achieved:
- All the statutory compliances are being taken care,
- Payroll is effectively processed,
- Companies can take pride of having a professional approach on HR
- Both the management and employees are happy about the values delivered.
Payroll Processing Services
- Monthly Data Collection on attendance, leaves, new hires, employee information changes, Loans, Advances, Adhoc Payments, Reimbursements etc. as per Pay Roll Advice Format
- Verification of data & pre processing the payroll
- Final Payroll processing on the approval of client
- Pay Slip Generation
- Organization Specific Payroll related reports
- Statutory Reports generation - PF, PT, ESI, TNLWF & Income Tax
- Disbursement statements – Banks, Cheque, Cash
Liaisoning Services
All compliances and liaisoning with regard to all Acts under the Labour Law are done comprehensively. The major acts are mentioned below. |
- The Employee's Provident Funds & Miscellaneous Provisions Act 1952
- The Employee's State Insurance Act, 1948
- The Minimum Wages Act, 1948
- The Payment of Wage act, 1936
- The Payment of gratuity act, 1972
- The Payment of Bonus Act, 1965
- The Employment Exchanges ( Compulsory Notification of Vacancies) Act 1959
- The Contract Labour ( Regulation & Abolition) Act, 1971
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- The Maternity Benefit Act, 1961
- The industrial Establishment (National & Festival Holidays) Act, 1965
- The Workmen's Compensation Act, 1923
- Labour Welfare Fund Act
- Profession Tax
- Industrial Dispute Act
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