PAYROLL OUTSOURCING SERVICES :
We know that running a business is not an easy task. That’s why we are here. By providing you a comprehensive service in payroll, you can say goodbye to extra time spent administering your payroll. So that you can focus on more important things, like, running your business! So let’s start with the most basic question:
Below are reasons why some companies outsource:
- Eliminates cost of initial hardware and software investment and its subsequent maintenance.
- Reduces spending on technology upgrades due to obsolete functionalities and changes in statutory requirements
- Control operating costs as fewer employees needed to perform these administrative tasks, thus maintaining low headcount.
Other indirect time/cost savings
- Reduces errors from manual handling of data
- Reduces risks involved in security and confidentiality issues
- Opportunity cost from redeploying HR resources and investments to other areas
- Reduce risk of fluctuating employee turnover and the need for recruitment and retraining, thus ensuring a stable operational environment
Change in company focus
- Reduce the time spent on administrative task and to refocus on strategic planning initiatives
- Reduces financial risks involved in non-compliance of legislative, corporate and technology changes
- Growing need for companies to leverage on established HR service providers for information and expertise that are not available internally
- Strategic partnership with HR service providers enable more flexibility and tailor-made solutions for ever- changing operational needs
- Increase employees satisfaction as a result of more timely and accurate response to their HR issues and queries
With outsourcing, all level of staff in your company will enjoy some form of benefits and convenience.
For the Management
- Real-time management reports
- Attain cost savings by reducing capital investments
- Strengthen internal control and planning
- Reduce turnover, rehiring and retraining
For the HR Department
- Reduce tedious and time consuming administrative work
- More time to focus on productive and strategic HR work
For the Line Managers
- Convenient and flexible reporting options
- Updated staff information for management decision making
For the Employees
Fast and accurate access to information
Why Our Payroll & HR Services
As your HR partner, we aim to offer you a flexibility and streamline payroll outsourcing services but at a competitive prices. Our goal is to help you achieve tangible benefits in the areas of cost savings as well as increase service level performances. We are proud to be a part of your great success. We take great pleasure in proposing our payroll outsourcing services to your company. First and foremost, we would like to thank you for the opportunity to extend this proposal to you and hope that we can work together in synergy to expand and grow together.
SCOPE OF SERVICES ‒ PAYROLL
➢ May Avenue Staffing (MAS) will input/capture, compute and finalise the Client’s payroll i.e. claims and monthly salary payouts. This will be carried out in strictest confidence by MAS based on all payroll related information provided to MAS by the Client.
➢ MAS will render the additional services of assisting the Client in capturing and screening the information provided by the Client to ensure that they are in accordance with the Client’s company’s policies and procedures and all government regulations.
➢ On monthly basis, MAS will make timely Payment request and funds requisition to the Client for the payment of salaries and wages via multiple bankers, statutory payments, namely, PF, ESIC, PT & LWF.
➢ MAS will remit all payments stipulated with the relevant documentation to the relevant bodies before their respective deadlines. This will include Salary Payouts into employees’ bank accounts. A time schedule will be agreed between MAS and the Client, stipulating the deadlines for:
➢ Submission of data (employees information / allowances / deductions / resignations / new hires, etc.) to MAS;
➢ Submission of reports to the Client for vetting before finalisation of payroll;
➢ Preparation of funds and payment of salary to employees via bank accounts or other means;
➢ Submission of reports to the Client for record keeping; ➢ Issuance of cheques by the Client as payment to
MAS will prepare all standard payroll reports, after each payroll period as follow:
➢ Payroll summary
➢ Allowance and deduction reports
➢ Overtime reports
➢ Salary reconciliation reports
➢ Bank listing
➢ All statutory forms (e.g. EPF, ESIC, PT & LWF etc.) Should you have many companies under one group of companies, MAS will prepare all reports for different entities as well as consolidated reports for management decision purposes.
- MAS will share soft copies of payslip for every payout monthly via email.
- On an ad hoc basis, MAS 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.
- MAS will function as a helpdesk for all the Client’s payroll matters, answering calls and emails daily. Our office hour are from 9.30 am to 6.30 pm Mondays to Fridays. Despite our office hours, MAS is happy to provide you support via our on call service numbers for urgent matters during the weekends.