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Using payroll services – Comprehensive solutions for businesses

What is payroll service?

Payroll service for foreign enterprises in Vietnam are an outsourcing solution that helps international enterprises reduce the burden of managing and calculating salaries for their employees in Vietnam. Companies specializing in providing this service will take care of the entire process, from calculating salaries, deducting social insurance, declaring personal income tax to preparing reports related to human resources.

The role of payroll services for businesses

Ensure accuracy and timeliness in salary calculation and payment:

Correctly apply regulations on basic salary, allowances, bonuses, and deductions to accurately calculate the amount of salary that employees need to receive.

Handle special cases such as salary increases, salary reductions, vacations, sick leave, etc. quickly and accurately.

Pay salaries on time to avoid causing dissatisfaction among employees.

Compliance with the law:

Ensure that the calculation and declaration of personal income tax, social insurance and health insurance payments comply with legal regulations.

Avoid legal risks that may occur due to errors in the salary calculation process.

Risk Mitigation:

Timely detection and handling of errors in the payroll process, helping businesses avoid unnecessary losses.

Minimize disputes related to salaries and bonuses between businesses and employees.

Improve management efficiency:

Provide periodic human resource reports, helping businesses monitor and evaluate the human resource situation, thereby making effective management decisions.

Optimize the salary management process, reduce the time and effort of the human resource department.

Increase employee satisfaction:

Ensuring timely and accurate salary payments helps increase employee trust and satisfaction.

Contribute to building a professional and stable working environment.

Which businesses should use payroll services?

Small and medium-sized enterprises: With limited resources, hiring a dedicated HR department for payroll can be costly. Outsourcing payroll services helps reduce personnel costs, stationery and other fees.

Large enterprises: Despite having abundant resources, large enterprises often face a large workload, especially in the field of payroll. Outsourcing helps ensure accuracy, efficiency and saves time for the HR department.

Enterprises with many branches: With many scattered branches, managing and unifying the payroll process becomes complicated. Payroll services help simplify the process and ensure consistency.

Enterprises with many foreign employees: Calculating salaries for foreign employees requires extensive knowledge of labor laws, taxes and related regulations. Professional payroll services will help enterprises fully comply with legal regulations.

What does payroll service include?

Salary calculation:

• • Correctly apply regulations on basic salary, allowances, bonuses, and deductions to accurately calculate the amount of salary that employees need to receive.
  • Handle special cases such as salary increase, salary decrease, vacation, sick leave, etc.

Declaration of personal income tax:

• • Fully implement personal income tax declaration procedures for employees, ensuring compliance with legal regulations.
  • Calculate and deduct personal income tax according to regulations.

Social insurance payment:

• • Fully perform the obligations to pay social insurance and health insurance for employees according to regulations.
  • Calculate and pay insurance contributions on time.

Handling labor related issues:

• • Consulting and supporting businesses to resolve labor-related issues such as termination of labor contracts and payment of benefits.
  • Supporting businesses in developing regulations on salary, bonus, and discipline.

Human resource report:

• • Provide periodic human resource reports to businesses to monitor and evaluate the human resource situation.
  • Prepare tax reports and social insurance reports as required by authorities.

Human resource data management:

• • Build and manage a centralized human resource data system, ensuring information accuracy and security.

Advice on labor law:

• • Provide advice on labor-related legal issues, helping businesses comply with the law and avoid risks.

Benefits of using payroll services

Ensure high accuracy:

Payroll experts will use specialized software and tools to ensure absolute accuracy in all calculations, minimizing possible errors.

Strict compliance with the law:

Payroll service providers often have a specialized legal team, helping businesses stay updated and comply with all legal regulations related to labor, tax, insurance, etc. Avoid legal risks and unnecessary penalties.

Information security:

Employee salary information is sensitive information. Payroll service providers often have a strict information security system, ensuring the safety of business data.

Improve employee satisfaction:

When the payroll process is performed accurately, transparently and promptly, it will help employees feel respected and appreciated. This contributes to building a positive working environment and increasing labor productivity.

Improve risk management:

Payroll professionals will help businesses identify and assess potential risks related to compensation issues, thereby providing effective preventive solutions.

Payroll service at VINA BOOKKEEPING

VBK specializes in providing Payroll Services for businesses and customers with foreign capital investing in Vietnam (“FDI Customers”). Currently, our customers come from more than 22 countries around the world, including multinational companies and listed companies in the US and Japan.

With experience and a spirit of dedicated customer service, we are committed to providing accurate and timely reports that comply with the deadlines of our staff.

We regularly update the latest legal regulations and provide professional advice so that you can rest assured in managing and complying with the latest regulations.

We also provide professional advice and practical solutions to help customers minimize risks and save taxes.