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Payroll Processing

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Payroll Processing Outsourcing Services

Offshore Payroll Outsourcing Services Company

Payroll Process Outsourcing , primarily involves deploying a group of experts to canalize the work of managing payments, its calculation, also culminated with other co-related tasks, helping businesses take on higher standards. Effective payroll administration can be a catalyst for the transformation of your offshore / onshore company. When you don’t want to manage all payroll processes in-house, you can think of payroll outsourcing to an experienced provider. At HrReco Tax Experts, we take pride in delivering industry’s most comprehensive assortment of outsource payroll processing in Bangladesh while taking care of all your payroll management, enabling you to target more strategic facets of the company.

Our payroll processing solution includes the following services:

  • Online technology for employees to view salary slip, submit IT declaration, decide FBP, submit query.
  • Online Access to View/Print Salary Slip
  • Automated Attendance, Leave Import/Export Solution
  • Web-based Leave Solution
  • Reimbursement Management
  • Replace Excel to Web-based Processing of Payroll, Reimbursement, F&F,
  • Reports Generation, E-challan Generation
  • Fast turnaround
  • Assistance throughout the entire life-cycle of the employee, right from
  • the day of recruitment to exit
  • Streamlining of all payroll processes
  • Reduced investment in IT infrastructure
  • Well thought-out resource deployment
  • Strict adherence to compliance and statutory requirements
  • Error-free documentation and reports
  • Solid business intelligence that helps top management with their strategic initiatives
  • Low-risk of penalties due to non-compliance
  • Speedy and efficient resolution of all employee issues

Our Main Features

Time Reporting

The company or the employee sends HR Reco a worksheet or other forms reporting the working hours, salary, vacation days, sick days and benefits to be paid to the employee for a given month. Employee Self Service (ESS): Online technology for employees to view salary slip, submit IT declaration, decide FBP, submit query.

Payroll slips

Based on the time reporting document, HR Reco prepares an invoice for each employee outlining the employer costs for the month and an individual payroll slip for each employee. The invoice is e-mailed to the employer and the payroll slip is e-mailed to both the employer and the employee.

Payment Due Date

Payroll payments are due from the employer on the 15th of each month or on the 20th at the latest, except for December when the payroll payments are due on the 10th or on the 15th at the latest.

Offer Direct Deposit Monthly Employer Tax DeclarationEnd-of-the-Year Consolidation
The

25th of each Month
Once the wire transfer arrives in the designated HR Reco bank account, the employee payroll statement is processed and bank electronic transfer is scheduled for automatic payment on the 25th of each month except in December when it is scheduled for the 20th.

Preparation of department summaries on basis of month-to-date payroll data along with customized client reports

Tax

Employer Tax declarations are issued monthly and include the payroll taxes to be paid for a given Month. The payroll taxes are paid by the employer on the 15th of each Month and kept in escrow in HR Reco escrow account until the due date, which is the 12th of the following Month.

HR Reco processes the end-of-year payroll and tax forms and resolves any differences with the Bangladeshi tax authority (any amounts owed will be billed to the employer for the quarter or at the end of the year in December as applicable).

Payroll facilitates

Payroll facilitates to give an idea about the earnings that need to be targeted for upcoming years in order to survive in the market.

Exclusively Service

Most national payroll services provide a tax guarantee, ensuring that customers will incur no penalties because the providers take responsibility for penalties when they do occur. In many instances, this cost-saving immediately justifies outsourcing payroll.

Our team

You can rest assured that you are with one of the leading companies in all aspects of human resources management services, including payroll.

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From basic payroll management to HR, statutory compliance, complete benefits administration, leave management, and time tracking, we are here to help you.