VIRTUAL HR GUIDE ON PAYROLL PROCESSING.
Virtual Human Resource (VHR), a Human Resource Outsourcing firm, dealing with variety of products such as; Outsourced Human Resource Manager, Human Resource Audits, Performance Management Systems, Human Resource Administration, Talent search and Competency Assessment Tests, has been at the forefront of excellence when it comes to customer satisfaction. The company is passionate about its payroll operations and delivers a client-oriented approach. It works in partnership with clients to find and create an exceptionally talented workforce. For many years, VHR has continued to offer excellent services to its clients, and while we boast many products and services, payroll management remains at the heart of what we do. The company manages and administers financial records like salaries, deductions, and bonuses. It also offers outstanding review and verification of payroll documentation and scrutinization of transactions for accuracy and compliance with laws, regulations, and agreements.
Our team, consists of Human Resource Professionals who are versatile with payroll services, we offer efficient and highly valuable payroll services that have proven to be a less expensive alternative to in-housing processing. The payroll services include monitoring employee time and attendance, ensuring correct deductions, making deposit adjustments, and calculating payroll and tax obligations. To address gaps that come with payrolls, VHR has invested in high-quality outsourced payroll services through partnerships with service providers who offer tailored solutions to specific client needs. Through these providers, we have developed a web-based connection that eases management and request of the company’s accruals on employee pay, including filing returns on one’s behalf. VHR has invested in a software to perfect payroll calculation processes. The system we use contains payroll systems with a self-service portal that aids in tracking employees’ working hours, calculate salaries and deductions, and generating pay slips.
As a payroll statutory requirement, VHR is tasked to deduct payroll taxes for example, PAYE from employees and submitting relevant data, such as payment schedules and e-slip to KRA on behalf of employees. It is compulsory for organizations and employees to sign up for government deductions like NHIF and NSSF which we can advise on for start-ups and reach out to relevant stakeholders. We provide employees with an effective collection of pension benefits and periodic income streams once retired.
VHR expedites payroll processing and management of wage payments to its employees. Payroll processing assists in identifying total payroll costs in terms of factoring in payroll gross income, payroll net income, and collecting pensions. It is crucial that a company’s payroll taxes are catered for on time and correctly because there is risk of attracting tax penalties. Our payroll processing map ensures accuracy in calculations including correct amount of taxes, company benefits, and deductions.