Karma Management: Enhancing HR & Compliance with Integrity

Human Resource Management is a major aspect of managing an organization. The success of any firm depends on the way it manages its resources, and especially employees. Whereas effective HR compliance is very essential for getting clear and proper directions through which employees can raise their concerns, it also helps in monitoring compliance developments and the compliance culture.
Karma’s inception was marked by the vision of becoming a leading management and solutions company. The key was to offer a comprehensive range of products and services at competitive prices, while continuing to maintain high service standards and world class operating efficiency. Karma today, has emerged as a pioneer in developing and providing customized personnel solutions, uniquely conceptualized and designed in line with the operational needs of the clients’ organization.
Karma has been established with the basic motive to expand the horizon and deliverables to the clients not just in terms of payroll compliance, but in complete HR and compliance needs such as Tech staffing, Payroll Management, Personnel Laws Consultancy solutions, all of which are cost effective and tailor made to suit the client’s business.
Pathfinders of Karma
Kishor Vaidya, Chairman and Co-founder: Karma began as Kishor Vaidya & Co., the brainchild of its Chairman and co-founder. Primarily engaged in providing Payroll and Statutory Compliances advice related to payroll management in 1997 in Mumbai, with the predominant focus on the areas of Payroll Compliance such as PF, ESI, LWF, he soon diversified with K.S Services in 1999 as an employee leasing and payroll outsourcing company.
Pratik Vaidya, Director and Cofounder of Karma Management joined the board in 2002. After spending a year carefully studying operations and future trends and demand, Kishor and Pratik started Karma Management Consultancy Pvt. Ltd. in 2004, with the expansion of various areas of HR, Recruitment, Tech Staffing, Training & Development, Audits & Compliances.
Software Suite for Compliance
Being a premier Employment Laws Compliances Service and Solutions company, they build their own proprietary software to handle their backend and provide the client with real time solutions and reporting for labour law compliance
Comply4hr.com – India’s best labour law portal
E-doc – Easy way to create all your registers and records for all States
V-check – Vendor compliance monitoring tool
E-check – Establishment compliance monitoring tool
MyPayrollBuddy – A Cloud Based Payroll Outsourcing Buddy
Karma’s flagship product launching in September 2016 in association with Opportune Technologies as a technology partner, is the enhancement of payroll management and payroll compliance management in one basket catering to medium level and large organisations. MyPayrollBuddy offers a unique combination of Time &Attendance, Leave management, Payroll processing services, Payroll statutory compliance & Payroll software OVER THE CLOUD. Pratik Vaidya (MD, Karma ) and Dhwani Mehta (MD, Opportune Tech) have been associated since last FIVE years and have teamed up to bring a superlative solution.
This solution amalgamates The best of HR & Payroll software, best team for payroll & its compliance services at 20 locations PAN India, only company to offer free & fully loaded content for compliance updates.
The core strength to Mypayrollbuddy is not just the payroll service offering over the technology platform, but has payroll generation domain expertise of over a decade. To top-up Karma has well-trained payroll & compliance team present in most of the Metro Cities across India with central team in Mumbai. This expertise results in delivering an error free and on-time payroll along with timely employee payroll statutory compliances filling.
Focus on Automation of Payroll Process
“We have invested heavily in the automation of payroll process & training of our employees for payroll domain understanding, viz-a-viz all payroll compliance requirements from minimum wages to bonus act, Overtime rules state wise to Time & Attendance &Leaves policy. Pan India state wise attendance & leave policy as per statute,” asserts Pratik.
Karma’s state-of-the-art Payroll platform has been designed and developed keeping in mind payroll lifecycle management outsourcing service as KEY deliverables. They have developed some key features that give an upper edge for timely & accurate payroll deliverable such as defining payroll disbursement date in the system, creating a checklist for payroll activity & mapping with a responsible person. It extensively uses timelines, auto generation of payroll checklist instances every month with alerts to concerns, RED flag for any delays in completion of time bond payroll process, and an audit trail for all the process to track errors and hereby improvise the next payroll cycle.
Benefits from Karma
“We believe in technology and we are providing technology edit solutions & services to the clients,”says Pratik. “Our aim is always to give our clients better solutions through better technology development,” Pratik adds.
Karma’s prime focus is their clients and their technology edit services provided to their clients not only save the time but improve turn around time through in- house software services so that the Companies can concentrate on their core competencies. They also enable their clients to scale their companies into large scale.
Future Ahead
 With a fully automated and integrated HR Payroll platform ‘mypayrollbuddy’, the company is staying ahead in the payroll service provider companies and their ‘mypayrollbuddy’ makes easy to personalise & attentive payroll outsourcing services for every client, like a payroll friend.
Looking towards its future Karma sees TOP 3 payroll service provider in INDIA by 2018. They are targeted at changing the way traditional & manual outsourcing activity happens. They are excited to offer the best payroll technology solution that fits the customer pocket, generate payroll & compliance content. And they expect to build the largest team of professional buddies to offer friendly but professional services.
The company has already established their presence in India and planning to set up International Payroll process & services in the coming two years.

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