Currently, Payroll Services (Payroll Outsourcing) are considered an outsourcing trend that brings many advantages in the Vietnamese market. This service was created to support businesses in human resource policies, payroll calculation, salary management… When using the payroll calculation and management service, businesses will be supported in all aspects related to salaries, along with it, operations will take place very smoothly.
NIC Global is proud to be the leading enterprise providing payroll services in Vietnam. Coming to NIC Global, customers will be provided with a full package of services, committed to progress, deadlines, transparency and compliance with legal regulations.
Introducing Payroll Outsourcing Services
Payroll Outsourcing Services is when a business hires a third party company to perform the tasks of calculating and managing salaries, bonuses, actual salaries, deductions; payslips, performing social insurance and personal income tax for employees.
Payroll outsourcing service (Payroll service) is one of the current trends for businesses because calculating salaries and bonuses for employees requires a lot of time, procedures, ensuring compliance with legal regulations and countless other arising tasks. Therefore, businesses tend to use a professional third party to solve the problem quickly and accurately.
What is payroll service?
Payroll Services are also known as “C&B Services” or “Payroll Services”
Accordingly, payroll service is a service provided by an outsourced payroll company that specializes in handling the above payroll operations such as: performing timekeeping activities, performing procedures on salaries, policies and benefits, paying salaries, etc. for employees.
C&B is an abbreviation for (Compensation And Benefit Executive) or a department in the Human Resources department, primarily responsible for salary, bonus, policies and benefits for employees in the enterprise.
Payroll services are known for activities including:
Add a paragraph here. Click the text box to customize the content, font style, and color of your paragraph.
Add a paragraph here. Click the text box to customize the content, font style, and color of your paragraph.
Eliminate worries about risk and errors with payroll services
Calculating salary sounds simple, but in reality, to do it correctly, accurately, and in compliance with legal regulations is relatively complicated.
Especially for businesses that do not have a dedicated support team, calculating and managing salaries becomes even more difficult. Because if the business does not know how to do it effectively, it will take a lot of time and money , or worse, legal risks. Therefore, using C&B services, businesses can solve and avoid the following problems:
- Late payment of wages to employees;
- Encountering problems with salary, salary deductions, social insurance procedures for employees;
- Costly and time consuming compared to hiring or training a payroll accountant, purchasing software;
- Risk of errors in the process of calculating salaries or records for employees;
And many more……
Eliminate concerns about risk & errors with payroll services (CnB)
What does payroll service help businesses do?
Payroll Services help businesses perform many tasks from managing personnel records to calculating and managing salaries for employees. Below are the main tasks that a payroll service company needs to perform for its customers:
- Monthly employee attendance & management
- Calculate salaries, allowances, subsidies, bonuses, deductions, benefits and other income of employees
- Update salary changes/adjustments
- Report, confirm payroll pending payment
- Transfer money, pay salaries to employees, send online payslips, send payslips directly to factory workers
- Answer and respond to employees’ questions and concerns about wages
- Make monthly increase and decrease reports and participate in mandatory insurance
- Perform procedures to reconcile and close insurance books for employees as required
- Register to increase or adjust social insurance
- Implement sick leave, maternity, accident and death benefits for employees in case of arising cases.
- Manage the submission of mandatory insurance premiums to the Department of Labor
- Register Tax Code and Dependents for New Employees
- Declare and submit monthly personal income tax reports
- Monthly updates on personal income tax regulations for employers
- Managing relations between employees and businesses regarding labor contracts, salary, bonus, insurance and welfare benefits
- Consulting on salary, salary regime and allowances to improve
- Personal income tax settlement for people with 2 or more sources of income
- Monthly detailed fluctuation reports for customers
- Consulting on salary, insurance, and tax for clients (businesses), especially in the case of applying new regulations to limit errors for clients.
Payroll service operations
Benefits of using payroll services
Help businesses focus on core business, increase profits for the company. Regardless of the number of employees in your company, directly participating in the work of calculating and managing salaries requires a lot of time and concentration.
The direct cost of payroll calculations can be significantly reduced by working with a professional payroll management service provider. Businesses can handle the most complex cases at the fastest speed, minimizing time & effort.
Penalties for errors, omissions or late filing of tax returns can be very costly and can also affect the morale of the staff in charge. A professional service provider like NIC Global will help businesses minimize serious errors. In addition, government rules and regulations are always changing, a professional payroll and management service provider always keeps up with the latest changes in rules, regulations and tax rate changes, updating all changes that may affect your payroll management to ensure that your company is always in compliance with the law.
Is payroll data on a company server safe and secure? This is a question that plagues business owners. Payroll service companies have technologies that can detect and alert customers to payroll fraud. Additionally, online payroll solutions provide a “safe haven” for your company’s confidential payroll data.
Companies are spending a lot of time & money to do simple human resource management tasks. Outsourcing payroll management helps you cut costs & provide more information to employees faster & more effectively.
Add your title here
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.
Add your title here
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.
Add your title here
Add a paragraph here. Click the text box to customize the content, font style, and color of your paragraph.
Add a paragraph here. Click the text box to customize the content, font style, and color of your paragraph.
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.
Add your title here
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.
Add your title here
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.
