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Companies are accountable for effecting deductions on account of EPF, ESI, Professional Tax, Income Tax, and Labor Welfare Fund from employees earnings based on prevailing rules and deposit amount deducted to depositing the same with respective agencies within a specific windowtime frame. Apart from this, Payroll Processor has to prepare returns and reports and submit on a monthly/ , quarterly/, half-yearly/annually , or annual basis , as specified by the concerned agencies. There are 5 five very important statutory commitments as far as payroll is concerned.