Todays complex and continually changing employee compensation environment is not for the faint hearted.
The South African Revenue Service (SARS) is currently aggressively enforcing compliance with payroll tax legislation and has significantly increased the cost/penalties to the employer with regard to non compliance.
It therefore makes sense to outsource this critical business function in order to ensure compliance with tax and labour regulations. Furthermore the administrative burden on employers has steadily grown with the imposition of new systems by SARS. The most recent of these being the agent appointment system introduced to recover any outstanding employee’s debts owing
Unless these matters are handled correctly and timeously significant penalties and interest charges can be imposed by SARS.
By outsourcing your payroll function you not only ensure compliance (and avoid penalties) but you and your staff are able to focus on your core business.
SOME OF THE SERVICES WE PROVIDE
Monthly/fortnightly/weekly payroll processing.
Monthly statutory submissions to SARS/Department of labour.
Biannual employee reconciliations via e@syfile.
Annual IRP5 issue to employees.
Agent recovery management.
Compliance with current legislation.