Payroll
Managing payroll is a crucial yet time-consuming task for businesses. By outsourcing this responsibility, your staff can focus on more creative and productive endeavors. An increasing number of business owners and executives are opting for payroll outsourcing to ensure the confidentiality of sensitive payroll data, a level of security that might be challenging to maintain in-house.
At OMC, we specialize in tailoring payroll services to meet your unique needs while ensuring compliance with all local regulations. Our goal is to minimize the burden on your staff and streamline the payroll process efficiently.
Our comprehensive payroll outsourcing services encompass various tasks:
- Acquiring national tax numbers (NTN) for employees who do not possess them.
- Understanding the intricacies of your payroll and different wage types, and configuring them within the payroll software.
- Collaboratively establishing reporting mechanisms based on your specific requirements.
- Gathering monthly payroll information, including attendance records, deductions, salary changes, and other relevant data, in a standardized format from your management.
- Calculating employees' tax obligations accurately.
- Generating monthly payroll details, outlining salaries and deductions based on the information provided by your management.
- Submitting the payroll for management approval and transferring the necessary funds for salary payments and withholding tax payments.
- Post-approval, transferring salaries to individual employee accounts after deducting taxes and authorized deductions.
- Generating and dispatching monthly payroll pay slips to employees.
- Depositing monthly payroll withholding taxes into the Government Treasury.
- Maintaining meticulous records of monthly deductions and ensuring timely remittance of withholding taxes.
- Providing a copy of the monthly payroll report for your company's records.
