Timely and accurate payroll deliveries have a significant impact on employees’ morale and performance level. As this critical process may not give your company a competitive advantage, it is the ideal activity to be outsourced as resources needed for a full-fledged payroll function may not justify its benefits.
Signs you need to outsource your payroll function
RSM Outsourcing payroll team is fully equipped with the expertise and experience to manage your payroll function. We have the people, standard operating procedures, technology, experience and knowledge to deliver comprehensive, accurate and timely payroll services to our clients. We are now also our range of outsourced services including payroll services in Johor Bahru
Our service delivery model is tailored to suit your organizational structure and requirements. No payroll is too big or too small for us. We are ever-ready and confident to step up and deliver.
We emphasize on privacy and confidentiality. We maintain appropriate security controls to protect your information at all times
Our Services for Payroll Administration includes:
Initial set-up stage/migration from existing systems
Providing relevant advice to employers on hiring practices and applicable legislation in our capacity as payroll specialists
Registering employers and employees with the relevant authorities such as Employee Provident Fund, SOCSO and Inland Revenue Board
Set-up new /migrating existing employee personal data and payroll files
Processing monthly payroll calculations including pay revisions and bonuses
Disbursement of salary to employees via electronic banking facilities
Preparation and submission of periodic statutory returns (Income Tax, EPF, SOCSO, HRDF, Tabung Haji, etc)
Issuing payslips (pre-sealed envelope payslip or epayslip via internet)
Providing payroll reports for management's review
Administering new hires/termination
Prepare and apply for new EPF/SOCSO membership and notify employment details of existing accounts
Notify IRB of new employee/apply for individual income tax file number
Annual compliance processes
Provide payroll Statutory Compliance Services such as preparation of annual tax forms for employers’ and employees’ annual tax filing
Assist in computing back log salaries, allowances and all statutory computations
Drafting of employee handbooks
Benefits of payroll outsourcing:
Instead of incurring cost for your own payroll department, outsourcing allows cost sharing of a routine but vital function with many other businesses. Apart from basic salaries, overtime, bonus and other less apparent staff related expenses, other expenses saved would include recruiting, training, medical benefits, staff amenities etc.
Removal of unforeseen contingency that could disrupt payroll operations
Payroll is one of the most vital processes in any organization and yet it is carried out by a few selected staff; should there be any anticipated (e.g. maternity leave) or unanticipated (e.g. personal accident, family bereavement) incident that befalls on the few staff, there could be disruption to the payroll processes. Outsourcing your payroll function would remove the impact of such contingencies.
Better usage of your time
Instead of spending time managing a support function, your staff would be able to focus on value-added activities to contribute to your revenue.
Our payroll professionals represent an external point of your payroll process that facilitates segregation of duty hence strengthening your internal control.
Able to comply with latest development in payroll IT solutions without direct investment in new or upgrades in hardware and software
Outsourcing frees your financial resources to be allocated to other areas while you remain competitive and relevant as payroll technology advances
No headache in keeping track and making relevant process changes to cope with legislation changes
Our payroll professionals will keep you updated with the latest relevant legislation changes and ensure full compliance hence removing the risks and penalties of non-compliance
Notable payroll assignments:
- Assisted a reputable institution in re-computing two years of erroneous Employee Provident Fund contribution and making good the contribution shortfall
- Re-work calculations of the entire years’ salary, allowances and statutory contributions of a sizeable manufacturing concern