Payroll admin & processing
Payroll admin & processing service
Outsourcing your payroll to our professional team will relieve your concern about whether payroll is processed accurately and securely, and also employees are paid on time in a compliant and efficient manner.
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What We Offer
- Preparation of master payroll report which contains all pay & deduction items and net salary information
- Preparation of individual monthly payroll slips (i.e., pay stub) for distribution to each employee on a private & confidential basis
- Preparation and filing of the monthly withholding payroll income tax reports to the tax office
- Maintenance of the payroll income tax withholding register by each employee in compliance with the Korean Individual Income Tax Law
- Annual calculation and declaration of final payroll income taxes on employees' annual payroll in following February (“Year-end Settlement”)
- Declaration of annual salary information by each employee to social security tax authorities
- Compliance with all regulatory requirements
- Daily general consultation and advice on application and treatment of labour law, social taxes law and etc. in relation to payroll, overtime, maternity leave, retirement benefits, etc.
- Responses to employee/tax authorities/social tax authorities on payroll expense/taxes queries
- Net salary disbursement to individual employee’s bank account and payroll taxes/social taxes to the tax office/social security authorities on the client’s behalf
- Preparation of general ledger Report to post monthly payroll expenses, or preparation of payroll JV as required
- Application of social security tax exemptions for expat (national pension and/or national health insurance)
- Prompt notification of changes to social security and labor law issues
