Payroll outsourcing is the process of transferring the responsibility for managing a company's payroll functions to an external service provider. This can include tasks like calculating wages and salaries, withholding taxes, preparing and filing payroll tax returns, managing employee benefits, issuing paychecks or direct deposits, and handling payroll inquiries and disputes. By outsourcing payroll, companies can often save costs, gain access to specialized expertise, improve accuracy, increase efficiency, and better accommodate changes in their workforce.
One client, one Project Manager(PM)
PM is the only contact window
One team behind PM to support our client together
2nd personnel works as a QC
QC double confirm all data, process, timeline, etc.
QC is involved in all communication with the client, so will be the PM’s backup
Client snapshot, record client's operation rules
Client SOP, maintain confirmed operation process
Client customized spreadsheets and solutions
Salary and tax policy consultation in various local governments
Monthly wage calculation and delivering
Income tax declaration
Leave management
Reimbursement management
Customized Pay Slip
Cloud-based payroll system
Social insurance policy consultation in various local governments
Company social insurance account and individual account
Personal account management
Account merging and transfer
Commercial insurance management
Medical insurance management
Accident insurance management
Foreigner insurance management
Employment work and residence permits
Visa documentation
Simplify payroll administration and improve in-house HR productivity
Accuracy of data and quality control checkpoint for every step
Reduce the time, effort, and money spent on operating costs
Ensure compliance with local labour laws and regulations for local government
Rapid response and feedback provided within 1-working day
Improve employee's satisfaction
Assessment and Contract: The company and the payroll provider assess the company's specific payroll needs and requirements. They then agree on the scope of services to be provided and negotiate a contract outlining the terms and conditions of the partnership.
Data Transfer: The company provides the payroll provider with relevant employee data, including names, addresses, Social Security numbers, hourly rates, and benefit information.
Payroll Processing: The payroll provider uses their software and expertise to calculate wages and salaries, withhold taxes, and process payroll checks or direct deposits.
Tax Filing: The provider prepares and files all necessary payroll tax returns, including federal, state, and local taxes, ensuring compliance with relevant regulations.
Benefits Administration: If included in the agreement, the provider may also manage employee benefits, such as health insurance, retirement plans, and paid time off.
Reporting: The provider generates various reports and analytics to help the company track payroll expenses, monitor compliance, and identify potential issues.
Customer Support: The payroll provider offers ongoing support and assistance to address any questions or concerns the company may have.