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Processing employee pay checks can be a time consuming and tedious task. Computations can be a maze of paperwork, transfers of funds to different bank accounts, employee savings accounts, and different government agencies. All businesses are required by law to pay certain employee taxes, and to provide end-of-year wage reports. Filing late or error-filled documents will results in expensive penalties and fees.
Hiring a payroll company is the solution to many of these issues. A payroll service company is a business that handles a variety of payroll and pay check processing issues. A payroll company can calculate tax amounts, process employee pay checks, and even generate job and project cost reports. Using a payroll outsourcing company, you’ll save both the time it would take to process payroll documents and any costs associated with learning how to do it yourself.
Payroll service companies perform several functions, including employee wage calculation, tax withholding computations, and savings and account transfers. All of these amounts are paid by your business, so a payroll company will need access to employee wage information and access to funds for deposit.
Before you begin using the payroll service, you should become familiar with the procedure for “calling in” payroll information or relaying hours worked for each pay period. Some companies allow businesses to set up an automatic notification system (if you have salaried employees whose wages each pay periods will rarely change). This can be convenient if you are out of the office or unable to personally relay paycheck or wage information.
We also provide other services such as Immigration Malaysia, Malaysia My Second Home, Accounting Malaysia, Company Registration Malaysia, Business Registration Malaysia, Payroll in Malaysia. Call us now +603-20789990 or visit our website www.BeyondCorporateGroup.com for more information!