China payroll service refers to the sum of all financial records of salaries for an employee, wages, bonuses and deductions. In accounting, payroll refers to the amount paid to employees for services they provided during a certain period of time. Payroll plays a major role in a company for several reasons. Tannet offers customized and cost effective end-to-end payroll management solutions for foreign SMEs or start-ups all over Mainland China and Hong Kong SAR.
Importance of China Payroll Management Service
After China's new labor contracts law came into force Jan. 1, 2008. Employing staff in China is becoming more and more complicated, more so if you operate a national wide business. Items such as mandatory welfare payments and employee’s education levels all have specific regional regulations regarding wages. China governments tend to revise minimum wage levels and welfare on an annual basis. In light of the new labor law, demand for professional, in-country Payroll servicess are growing.
In an increasingly competitive market for skilled labor, foreign-invested companies are restructuring their salary packages as a means of hiring and retaining quality staff. For this article, we outline the fundamental components of salary in China and introduce some of the structures being used by companies to increase retention and motivation levels in their staff. We also introduce the relatively new concept of outsourcing of payroll management services in China – a business that is becoming more popular as the operations of foreign invested enterprises in China become more diversified and complex.
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Tannet's Payroll Management Service
Our payroll service in China provides you with the ability to manage every key aspect of payroll – from payroll processing, salary payment to individual income tax deduction.
1. Payroll Processing
Manage multiple pay groups and pay schedules for clients’ various business entities;
Calculate gross and net pay, individual income tax, and social benefits;
Perform quality control check – itemized payroll processing;
Submit itemized payroll reports for clients’ confirmation.
2. Salary Payment
Deliver printed, online, or mobile phone pay slips for employees;
Transfer net pay electronically to employees’ bank accounts.
3. Individual Income Tax Administration
Deduct and pay individual income tax to designated government agencies for employees;
Handle individual income tax filings in compliance with government regulations.
4. Management Reports
We provides standard management reports that comply with local labor laws and regulations – and help employers to better manage their payroll-related business functions.
Contact us
If you have further enquire, please do not hesitate to contact Tannet at anytime, anywhere by simply visiting Tannet’s website english.tannet-group.com, or calling Hong Kong hotline at 852-27826888 or China hotline at 86-755-82143422, or emailing to tannet-solution@hotmail.com. You are also welcome to visit our office situated in 16/F, Taiyangdao Bldg 2020,Dongmen Rd South, Luohu, Shenzhen, China.
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