Payroll in India

Any company looking to expand their global reach must have India on their radar. With a population of over 1.4 billion people, it’s the world’s most populous country and well on the path to becoming the world’s fourth-largest economy. The country is also very young: 65% of India’s population is under the age of 35. This demographic has shaped work trends on the ground, with a strong emphasis on digitalization and personalizing benefits to meet employee needs. While India presents vast opportunities for multinational businesses, its payroll challenges are unique and require local expertise. In this episode of Payroll Around the World, we travel to India to explore the world of payroll in this economic powerhouse. ADP experts Rahul Goyal and Ramesh Dayalan share their expertise on running payroll in India and give listeners detailed insight into what multinationals need to know about work and pay in the South Asian country. This includes understanding the compliance regulations around Aadhaar, the world’s largest biometric ID system, and the growing trend of offering employees personalized benefits packages. We also speak to Sindhu, a single mother who’s had to make some career changes in order to accommodate her children’s needs.  Subscribe to ADP Payroll Around the World to stay up to date on all things global payroll. Learn more at https://rethinkq.adp.com. Follow ADP in India on LinkedIn at https://www.linkedin.com/company/adp-india-payroll-hcm/ Timestamps Intro [00:05] What’s exciting about payroll in India? [03:44] Introducing Aadhaar [06:32] Sindhu’s story [12:12] What is ADP doing to help multinationals in India? [20:11] India’s young workforce and their expectations [23:48] The importance of financial wellness [25:03] A “bouquet of pay components” [27:04] How is ADP promoting financial wellness? [29:17] Upcoming payroll trends [32:35]  Credits Executive Producers for ADP: Nicola Smith and Kate Allen Executive Producer for Storythings: Matt Locke Recorded, edited, mixed and mastered by: Chris Mitchell Scripted and hosted by: Luisa Rollenhagen Guest interview recorded by: Kaukab Shairani Project Manager: Aimee Perrinjaquet  Hosted on Acast. See acast.com/privacy for more information.