Monday, Jun 27, 2005
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Chennai
N. Ravi Kumar
CHENNAI: It is truly a paying job for employees of SummitHR Worldwide in Chennai, as they earn, processing the pay cheques of thousands of people employed with firms in the U.S. Easier said than done, considering that the frequency of such payments is weekly, bi-weekly and fortnightly, and requires compliance with the elaborate tax laws of various statutory agencies in the U.S. and administering benefits to the employees. But this is precisely an area that SummitHR seeks to specialise in, a pointer to which is its human resource BPO operations in Chennai crossing the one million U.S. pay cheques-a-year milestone. This translates into approximately $ 500 millions of payroll and 22,000 pay cheques a week, says Ranjan Sinha, chairman of the U.S.-based SummitHR. "We expect the number of cheques to double by the end of this year," he told The Hindu here recently. Indicating that the growth would be driven by new outsourcing contracts, he said: "A lot of HR outsourcing companies want to move their basic process outsourcing to India." The workforce at the Chennai centre consists of qualified financial professionals, including chartered accountants and insurance specialists. SummitHR Worldwide provides end-to-end HR outsourcing services, including payroll, contingent staffing, recruitment process outsourcing, benefits administration and finance and accounting pay to over 25,000 employees across 38 States in the U.S. Some of the leading organisations serviced by SummitHR through its HR outsourcing partner companies are CISCO, Wells Fargo, Sun Microsystems, Lockheed Martin, Loral Aerospace, KLA-TENCOR and Stanford University. It handles over 700 benefit plans including health and vision, dental life and disability for its clients. It also takes fiduciary responsibility in filing Federal and State taxes to the tune of over $ 125 millions. "In the process, we have achieved the same level of productivity as our U.S. counterparts," Mr. Sinha said.
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