Payroll Service

Payroll Service

A Payroll Service stands out as an ideal solution for businesses aiming to streamline costs while upholding a professional approach to employee compensation. At 365 SHR, we shoulder the responsibility of these tasks, allowing you to channel your focus towards your core expertise. This following information will demonstrate on the professionalism of Payroll Service at 365 SHR Company.

1. Responsibilities undertaken by 365 SHR:

► Payroll Preparation and Review

► Calculation of Payments and Deductions in Accordance with Labor Laws

► Timely Salary Disbursements in accordance to the customer specifications

► Generation of Regular Salary Reports

► Execution of Personal Income Tax Declaration Procedures

► Facilitation of Social Insurance, Health Insurance, and Unemployment Insurance Formalities

2. The formula of calculating salary payment:

➟ Calculating salary based on working time according to timesheet.

➟ Calculate salary based on accurate data and the accountant must ensure the time to pay salary according to regulations

➟ Calculating wages per working hour based on the provisions of the Employment Laws.

- Overtime pay on Sunday will be calculated according to the formula: salary * 200% * overtime hours

- Monthly salary is calculated based on the formula: main salary + allowance (if any)/ 26 * actual number of working days.

➟ Salary payment period will depend on the company term

- Overtime on weekdays will be equal to: salary * 150% * OT time

- Overtime on holidays: salary * 300% * OT time

3. Benefits of Using Our Payroll Service:

➙ Save Costs: Getting a payroll system might be easy task to handle, but for small businesses, hiring a payroll team is a big challenge.

➙ Boost Productivity: Managing salaries takes time. Outsourcing this lets employees focus on their main work, reducing the need for a bigger team.

➙ Improve Accuracy: By leaving it to experts, errors decrease as they focus solely on minimizing risks.

➙ Quick Processing: Skilled professionals mean faster salary calculations.

➙ Accountability: We take responsibility for errors or delays in wage calculations.

➙ High Security: Our modern systems ensure security against fraud and safeguard salary data.

➙ Safety guarantee: Using our service provides security. No more worries about payroll—focus on your work.

By choosing Recruiting 365, you not only gain access to our top-notch services but also experience the professionalism and expertise that define 365 SHR Company. Reach out to us today for prompt guidance pertaining to your specific areas of interest within our services.