Third Party Payroll / Bodyshop
Third party payroll is defined as the outsourcing payroll responsibilities of an employer such as a part of their payroll, tax-related duties or legal issues to third-party payroll service providers. These service providers assure that the requirements are met so that business operations are carried out in an efficient way. An employer enters into a contract or agreement with a third party so that they agree to fulfill some of the duties of their employees. In general, payroll is defined as a total amount of expenditure spent by the employee towards their employees and also maintains a list of company’s employees.
People will work at your premises but hired by us and payroll will remain to us – that make your lean and easy to move. An agreement will be done between us and we will provide the right people with right talent according to your project or assignment remaining within the local laws. Any legal issues arises will be handled by us. The travel costs and travel invoices from the employees are usually processed together with payroll.
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- HR Outsources will do all standard payroll process & reports after each payroll period as follow:
- Basic SERVICES :
- Payroll summary with Salary Register
- Allowance and deduction process & reports
- Overtime process & reports
- Deduction- Absent/Lunch/others
- Leave encasement
- Bonus calculation
- Final Settlement
- Pay Slip
- Salary certificate
- Bank Advise
- Bank disbursement
- Tax (Treasury challan) Certificate
3. ADVANCED SERVICE :
- TAX Management – Tax calculation /Tax Challan /Investment calculation/ Tax deduction certificate / 108 income expenditure
- Salary reconciliation reports
- Perquisites /perk
- DPS
- Union Subscription
- Cooperative subscription
- Incentive
- Leave Fair Assistance
- Key executive Bonus – KEB
- Short term incentive bonus
- PF Management- confirmation certificate/ Calculation/ post audit certificate
- Gratuity
- Cost center wise report
- Any other report
List of services:
- HR Outsources will provide out pay slip for every payout monthly, sort and distribute directly to all locations with the Client’s employees.
- Quarterly HR Outsources will prepare TDS to submission NBR at the end every quarter.
- Annually, HR Outsources will prepare 108 to submission NBR at the end of the year and TDS.
- For any employment of new staff or resignation, HR Outsources will submit all relevant documentation to the relevant authorities on your behalf.
- On an ad hoc basis, HR Outsources will prepare necessary reports requested by the Client, but within the capability of payroll software. However, as and when there is a need for additional assistance in any payroll matters that will have to be accomplished as a project; then a formal quotation will be prepared for the Client.
- HR Outsources will function as a helpdesk for all the Client’s payroll matters, answering calls and emails daily. Our office hour are from 10.00am to 7.00pm Sunday to Fridays. Despite our office hours, HR Outsources is happy to provide you support via our on call service numbers for urgent matters during the weekends.
- HR Outsources will prepare the accounting journals for payroll cost and accounting journals for financial month end provisioning in the format required by Client.
- Compute leave balance based on financial month end and upload the information to Client’s accounting system for computation of leave accrual.
- HR Outsources will perform reconciliation on all payroll related accounts and prepare adjustment journals for the reconciliation on a monthly basis.
- SYSTEM FUNCTIONALITY
- HR Outsources proposed to provide the above services using MyJobs (GreenHR) Payroll software, an award winning software. This system is so user friendly which makes it powerful and reliable.
- The above applications will be hosted in our secured servers, workstations, networking equipment and operating systems with proper backup devices.
- All data sent to Client in relation to employees’ information will be encrypted to protect customers’ confidentiality.
- ENGAGEMENT PROCEDURES
Outlined below are procedures of outsourcing services engagement between HR Outsources and Company:
- HR Outsources provides the Official Outsourcing Service Quotation and Complete Scope of Work to SCompany
- Company shall agree and sign in an Outsourcing Service Contract with HR Outsources consented by both parties.
- CUSTOMER shall provide HR Outsources all information related to initial setup of its human resource, payroll, accounting and all other related information.
- HR Outsources shall proceed to setup all necessary systems and routines of its monthly outsourcing services.
- HR Outsources will prepare all authorized monthly payment cheques for CUSTOMER’s authorized signatories to sign before dispatching those cheques to all parties.
- Payments: Payment will be made before 3 working days of disbursement.
- PROJECT TASK MANAGEMENT
Our project management is comprised of the following phases:
- Project kick off meeting
- Detailed processes and requirements study
- Review meetings
- Internal training
- Parallel run
- Review meetings
- Live run
- Review meetings
- Project sign off
- SERVICE LEVEL GUARANTEE
Our utmost priority is to ensure prompt and accurate monthly salary payments and contributions to the statutory bodies in Bangladesh. In the event of errors proven to be committed by us, we will rectify within a reasonable timeframe. Failure to do so, we will obliged to absorb any penalty charges imposed on our Client.
- PAYROLL PROCESSING FLOW
1) START
- By 15th
- Receive data from Client
2) By 18th – 22nd
- Confirmation & approval of payroll > Approval of funds>Disbursement
- HR Outsources professional fees
3) By 26th
- HR Outsources confirms payment to employees bank account.
4) 26th – 1st week of next month
- HR Outsources submits month end report to client:
- Payroll summary, Payment receipt, Month end journal listing, Other reports
- Payroll Pricing and packages: Usual offer 2.5% – 10% on gross which can be can be varied depending on volume and other services.
Any above preferred service as per your requirement
- Payroll Automation: System
- Manual Payroll: MS Excel
- Full HR Automation : HRIS
- The offer rate can vary depending on other service.
- Pricing: with Basic Service according to clauses
A MOU will be signed with Company and the object of this agreement is to establish mutual rights and obligations of the Parties in connection with providing services by the HR Outsources, in favor of your organization exclusivity services within the scope of Payroll services for a period of 2 yrs which can be continued