Form 16 Verification: Definition & Process

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Form 16 Background Verification is an important step for any business in the hiring process of a new employee. It can help companies verify that the information the candidate has provided regarding his or her previous compensation is true, since it clearly contains every salary transaction, including tax deductions. Therefore, with Form 16 verification, you can fairly determine their new salaries and incentives for when they do start working for your company.

The form 16 verification is the important step in the hiring process of a new employee. It can help companies verify that the information the candidate has provided regarding his or her previous compensation is true, since it clearly contains every salary transaction, including tax deductions. Therefore with Form 16 verification you can fairly determine their new salaries and incentives for when they do start working for your company.

A Form 16 verification is a document signed by the employee, or the individual who is the receiver of compensation, which contains the exact information pertaining to their salary including tax deductions. The issue of such a form is governed by section 206C of the Income Tax Act. This document serves as a proof that one has already filed their tax returns and paid taxes on the income earned during that particular financial year.

On this background, today’s candidates may have already worked in a job field and with companies that are unknown to you. For the HR Manpower that are facing difficulties in filling up the vacant positions, a new challenge has risen. It is more on verifying their credentials and so they should carry out background checks. Background verification is the process of organizing your information, checking backgrounds and identifying an individual’s employment history, qualifications, criminal record and also personal reputation, confidential information etc.

In such real world scenarios, Background verification may act as a saviour or a way out for the HRs and recruiting managers. In general, background checking is the process of analyzing a candidate’s education, work history, use of social media, people references and character. Now the question is how to go about this background verification process?

Background verification is a vital step in the hiring process, allowing you to gain control of the situation by having a third party validate critical facts and discover any discrepancies that may have been missed.

The bgv meaning software helps you discover the hidden truths about your candidate’s identity for Background verification. With a simple registration process and affordability, the BGVerify background verification software backs its product with following features: Easy to use and very user friendly.

The bgv meaning software from the developer helps the HR managers to automate the background verification process for all their new hires. It eliminates repetitive, manual tasks and reduces hiring costs considerably by taking care of tedious background checks on candidates. The BGV meaning is basically the background verification that the HR performs after short listing the candidates on the basis of their credentials and skills and successfully moving them to top positions. At present, this background verification is done by many organizations through 3rd party verification agencies.

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