MANAGED PAYROLL SERVICES
Payroll Master Process Inc. provides a Managed Payroll Solution wherein skilled and experienced staffunder the supervision of an overall head of Firm’s Payroll services handles the entire complex payroll operation from computation, on-time release and regulatory compliance.
Personal profile of each employee is set up in the payroll system for easy reference, new hire registration with Social Security System, Philhealth and Home Development Mutual Fund is submitted on a timely manner either manual, or online through the company’s individual accounts.
Comprehensive management reports are prepared before the scheduled pay-out, it is either on an excel or PDF format which includes the computations of withholding taxes, night differential pay, overtime pay and mandatory contributions to Social Security system (SSS), Home development mutual fund (HDMF), and Philippine Health Insurance Corporation (PHIC).
All regulations on labor standards e.g. sickness benefits, overtime and other areas are understood, implemented and calculated correctly; and Payslips are transmitted at client option; either through electronic mail or printed copy in a sealed envelope.
The payroll summary is updated monthly to support the tax annualization usually before the end of the taxable year.
PAYROLL SET UP
Newly hired employees are asked to fill up a payroll set up form which includes their personal data, salary details and their personal government numbers that would be use in their registration. To ensure the accuracy of the data given by the employees, We also need to have all the pertinent documents related to their job acceptance.
ROUTINE PAYROLL SERVICES
Preparation and processing of your payroll depending on your preferred pay out schedule. Including the remittance of employees net pay through their individual accounts and sending the payslips either through electronic mail or in an individually sealed envelope.
MONTHLY PAYROLL COMPLIANCE
Preparation and summarization of the corresponding government forms for the monthly withholding taxes and premium contributions to SSS, PHIC and HDMF.
ANNUAL PAYROLL COMPLIANCE
Preparation and filing of BIR form 1604 – CF (Alphabetical list of employees and their compensation) and BIR form 2316 (Annual Compensation and withholding taxes of each employee.
OFF CYCLE PAYROLL SERVICES
- - Final Pay computation for resigned/terminated employees.
- - Maternity Benefit Claims.
- - Updating of BIR related documents for tax purposes.
- - Leave Conversion.
- - Settlement of overdue statutory contributions.
- - Benefit claim related documentation in compliance with PHIC/ SSS/HDMF.
HR MATTERS THAT IMPACT ON COMPENSATION
- - Development of Employees Manual
- - Employees Manual Review
- - Payroll Related Policy Making
PAYROLL DATA MANAGEMENT
Check and validate employee information from hiring (appointment letters and related documents) to payroll processing to ensure all the figures are accurate and as per agreed terms and conditions as well as in compliance with local laws.
- - 201 file Set Up and Management
- - Monthly payroll expense
- - Leave Credits Monitoring
- - Loan Monitoring