SFI Management Consultancy > Services > Business Consulting > Payroll Services Outsourcing
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Payroll Services Outsourcing

Leave your worries to us, we will take care of the timely distribution and accurate calculation of your staff payroll.

Payroll is definitely more than just writing and signing paychecks. There are deposits to make, taxes to withhold, requirements to comply with and yearend taxes to assess. It is considered a critical function because aside from being highly confidential, it is also a very sensitive matter to each and every employee.

Creating a separate department to handle payroll and benefits administration entails unnecessary costs especially for small and fledging companies. But even then, there is no guarantee that an efficient payroll could be in force once issues like vacation time and staff attrition are to be dealt with.

The service package includes the following:

A. Payroll Processing

The process effectively commence when the employee starts the day at work all the way to the calculation up to the crediting of payroll to the respective employee’s bank account.

Payroll Processing covers all the tasks involved in calculating employee compensation to ensure that employees receive the correct amount of salaries at the right time. It includes computation of basic salary, overtime pay, tardiness, taxable and non-taxable remunerations such as 13th month pay, allowances, bonuses, government mandated benefits such as the SSS contribution, Philhealth contribution, PAG-IBIG contribution and salary deductions such as withholding tax on compensation, salary loans and cash advances.

B. Benefit Management

This will assure that promises are not broken and that commitments of the company to its employees are met right on time. High employee retention can be ensured if employees are confident that the company gives them due importance by being consistent in the implementation of its obligations to the employees.

Benefit Management ensures the proper implementation and timely distribution of the company’s employee benefits. Benefits could be given in varying terms such as monthly, quarterly, semi-annual, annual or may be dependent on a production quota. It is therefore not unusual that delays do happen but then the effect on the employees’ morale could lead to many things and foremost concern should keep the employees protected from entertaining negative thoughts.

Employee benefits are important components of the employees’ salary package but then we cannot underestimate its significant financial impact on the company’s cash flow. Being an obligation to the employees, employee benefits constitute a significant part in employee retention and productivity enhancement. 

C. Time and Attendance

This will ensure that timeliness of employees’ attendance is constantly on check and staffs are constantly reminded accordingly.

Time and Attendance Report is a customized report showing the summary of the quantity of time employees spend on the job. The report can be used (1) to keep track of the time and attendance of the employees (2) to measure productivity as against attendance, and (3) to streamline processes. Monitoring time and attendance could lead to reduced payroll costs and improve employee compliance and efficiency in the long run.

D. Remittance to Government Agencies

This will guarantee timely and above board compliance with mandated benefits.

All business establishments are mandated to provide for the social security protection of the employees and their dependents against contingencies resulting to loss of income. These benefits include social health insurance coverage, financial access, health care services, and disability and retirement benefits among others.

The premium contributions to be remitted are shared by the employer and employee and paid to the government agency or accredited banks every month. The employee's share is being deducted from the payroll. Withholding tax on compensation is taken from the payroll and remitted to BIR via the accredited banks every month and annualization is done as mandated at year end.

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  SFI Management Consultancy Inc.
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  853 Edsa Corner Panay Avenue South Triangle, Quezon City 1103
  Tel: (+632) 3553110  
  Email: info@sfimanagementconsultancy.com

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