Outsourcing Payrolls, a new concept?
Outsourcing your company’s payroll sounds like a relatively new concept, but it has been tried and tested for at least the last decade. Over the years this practice has been more widely acknowledged as a cost-effective way to manage the payrolls of companies.
By outsourcing payrolls, companies have the leverage to focus on managing their companies, instead of being side-tracked by the legal compliance of payrolls.
A few reasons your company should consider outsourcing Payroll:
• Cost Effectiveness – Outsourced companies have the leverage of paying lower rates for payroll systems, therefore they can provide the service to you at a lower rate.
• Legal Compliance – These outsourcing companies, who live and breathe legislation, are always on top-of compliancy and are experts in their field.
• Ad-hoc Advisory Services – They will also advise you on the best practices in payroll.
• Market Related Trends – Knowledge of the newest trends in benefits and salary structures.
• Reliability – Wages and salaries are processed and paid effectively, employees are paid on time.
• No holidays – These companies function every day, sometimes 24/7 and there is no down time for your payroll.
• Structured for your individual needs – The payrolls will be structured according to your needs i.e., monthly, fortnightly, weekly, and daily salary or wage payments.
• Important dates and submissions – Yearly and bi-annually EMP501’s (IRP5&IT3’s) to SARS are always in their calendars, as well as monthly remittance of UIF declarations.
The above mentioned, are only a few of the reasons companies should consider the services of outsourcing companies to manage their payrolls. No more sleepless nights about complicated salary calculations, paying employees timeously and deducting the correct PAYE.
At Ubuntu, Payroll is our passion and we will give you the peace of mind that it’s taken care of.
©Ubuntu HR Services 10 February 2021