Hainan company payroll outsourcing is conducive to foreign investors doing business in this tropical island. Managing the payroll of your employees is one of the most demanding aspects of running a wholly foreign owned enterprise in China. China has an eight-hour workday, with a 44-hour work week. Salaries are paid on a monthly basis. The various payroll procedures and regulations in China can make it a complicated process. Tannet can guide you through every process, ensuring a smooth and hassle-free payroll calculation service for businesses.
Introduction to Payroll Outsourcing
Payroll outsourcing is the act of delegating payroll administration to third party having expertise in payroll processes. Generally companies outsource their payroll functions to cut costs, and to get better services. Even the most meticulous and experienced professionals find that payroll can be a headache, let alone those startups who set businesses in a new market. The benefits of payroll outsourcing are listed below:
1. Cost and time saving
Every pay period you must calculate wages; print, sign, and distribute checks; create reports; and prepare and pay payroll taxes. By outsourcing, you can spend time that would otherwise be consumed by these tasks on profit-generating activities.
2. Improved security
Most payroll providers offer secure systems for sensitive employee and company data. They employ redundant backup systems, multiple server locations, and the latest technology to protect client data.
3. Regulatory compliance
It can be challenging to keep up with payroll tax laws, and penalties for errors can be significant. Payroll providers know payroll backward and forward, and can help you stay compliant with payroll-related laws and regulations.
Tannet’s Payroll Services
1. Initial set-up of the payroll system;
2. Payroll calculation and net salary payment arrangement;
3. Payroll report for local accounting entry and HQ management;
4. Preparation and filing of employees’ PRC Individual Income Tax (IIT) returns and assistance in settling any related tax liability;
5. Assistance in the employer registration of social benefits and housing fund;
6. Monthly compliance work for social benefits and housing fund;
7. Annual assessment for local employees' statutory social benefits and housing fund contribution;
8. Assistance with external audits and inspection by social benefit authorities.
Tannet can design a humanized payroll service based on the characteristics and requirements of your unique business need to enhance. You will be provided with highly accurate payroll management services that are reliable and accurate.
Contact Us
If you have further inquiries, please do not hesitate to contact Tannet at anytime, anywhere by simply visiting Tannet’s website english.tannet-group.com, or calling Shenzhen hotline at 86-755-82143512 or Hong Kong hotline at 852-27826888, 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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