 |
 |
 |
|
 |
 |
 |
 |
|
 |
| |
Payroll administration requires continuous monitoring and attention which ties up valuable resources in your business.
As an employer, you are legally required to calculate and withhold PAYE and other statutory deductions from the salaries of your employees and remit them to Government along with your own payroll contributions. This is a free collection service which you provide to Government but, instead of being thanked for it, you can face a nightmare if you get it wrong. Common pitfalls include:
- Incorrect distinction between taxable and tax-free emoluments.
- Wrong treatment of benefits in kind and how they are taxed.
- Lack of understanding of the method of calculation of PAYE deductions.
- Failure to submit remittances and returns to Government by the due dates.
- End of year returns do not reconcile with monthly declarations.
Unfortunately, for seemingly innocent errors, you may find that you are confronted with heavy fines. And you are unlikely to rejoice either at the stressful prospect of PAYE and other inspection visits by Government officers at your premises.
Fortunately, we can take this burden off your shoulders by taking charge of your payroll administration and leave you free to focus on your core business. With minimal input from you, we can provide, with the aid of our dedicated payroll software, a comprehensive range of payroll services to your business, including:
- Maintaining and updating standing data in respect of all your employees.
- Calculation of overtime and other benefits.
- Calculation of statutory deductions (PAYE, NPF) and other deductions from the pay of your employees.
- Calculation of your statutory payroll-related contributions.
- Preparation of your payroll and calculation of the net pay of your employees.
- Preparation of cheques / bank transfers in respect of the net pay of your employees.
- Preparation of pay slips.
- Payment of monthly NPF, NSF and PAYE contributions and submission of related returns to the relevant Authorities.
- Submission of returns of employees and PAYE reconciliation statement on an annual basis.
- Dealing with the regulatory Authorities on any issues arising from the preparation of the payroll and the submission of payments and returns.
We guarantee our clients the utmost confidentiality when dealing with their payroll administration.
|
 |
|
|
|