Outsourcing your payroll function allows you to focus your time and effort on managing your business. Our dedicated team of payroll processing specialists can help you handle your payroll requirements professionally and in compliance with Thai laws.
Whether you’re a local or foreign entrepreneur in Thailand, you absolutely want to establish and run a business that will reap success. In today’s competitive business environment, though, it is no easy feat to manage a company, especially in such a dynamic landscape as Thailand. Focusing on internal operations and at the same time, developing new business strategies to generate more income can be a big challenge for any business owner.
Entrepreneurs in Thailand need all the help they can get to make their business operations as smooth-sailing as it should be. Partnering with Reliance Consulting for payroll outsourcing service is a wise move, as it takes the responsibility off the hands of the company and have a professional firm handle all payroll concerns in a timely, more efficient manner.
WHY OUTSOURCE YOUR PAYROLL FUNCTION
Payroll processing demands time and effort, not to mention a clear understanding of Thai rules and regulations to ensure that all processes are performed with full compliance to avoid corresponding penalties.
It is for this reason that outsourcing payroll processing has become more and more popular amongst today’s companies. Outsourcing this task to Reliance Consulting allows companies of all shapes and sizes to enjoy the following advantages:
Payroll rules and regulations in Thailand can be difficult to navigate, which any in-house employee may find confusing. A company needs the services of a true professional who knows the ins and outs of Thai laws and can make sure that it always conforms to existing and new laws to avoid being fined for non-compliance.
Any error or omission in processing the payroll can be met with penalties, which can damage the reputation of any company. With a professional firm handling payroll processing, the whole task is done with speed and accuracy yet performed in strict compliance with industry standards. This means professional payroll processing that is precise, reliable, and secure.
Payroll processing is both time-consuming and labour-intensive. Having a specialised firm handle the job affords companies the opportunity to lessen the workload internally and concentrate better on core business tasks.
Processing of payroll
We provide accurate processing of net salary payment, which includes computation of your employees’ monthly personal withholding taxes, contributions to the Social Security Fund, monthly deductions, as well as overtime payments and other benefits.
Creation of payslips
We take care of producing employee payslips that are accurate and secure, and provide complete payroll details for each employee.
Payroll submission to your bank
We provide complete payroll instructions and submit these to your bank to ensure automatic payment release to your employees.
Preparation of Social Security contributions
We accomplish the filing form (SPS 1-10) for you, detailing the monthly contributions of each employee and submit this to the Social Security Fund office every within the 15th of the following month.
Computation of Provident Fund deductions
We compute the contributions for provident fund of each employee.
Preparation of withholding tax form (PND 1)
We prepare the monthly personal withholding tax filing form of your directors and employees and submit this to the Revenue Department every within the 7th of the following month.
Preparation and issuance of withholding tax certificates (BIS 50)
We oversee the preparation and issuance of each of your employee’s withholding tax certificate, which details the employee’s total earning salary, tax deductions, contributions to the Social Security Fund, and contributions to the provident fund (if there is any), for the whole calendar year. Issuance of certificate is important to meet the requirements for personal income tax returns filing.
Preparation of Workmen’s Compensation deductions
We take care of accomplishing the filing form for annual Workmen’s Compensation contributions and submit this to the Social Security Fund office.
Submission of payments to government agencies
We handle the submission of corresponding fees to every government department.
Preparation of electronic report
We provide an electronic report of your monthly payroll subject to your management’s approval.
Payroll Outsourcing Service That Meets Every Budget
At Reliance Consulting, we believe that every business deserves to experience efficiency and top-quality service to enable them to perform beyond expectations. We have made our payroll outsourcing service flexible, so we can tailor our service based on your company’s requirements and budget. Small- and medium-sized companies enjoy the following payroll packages that suit their need:
2.2 - Preparation of employee Withholding Taxes certificate
2.3 - Preparation of social security reports and submission to Social Security Office as followings:
SPS 1-01 - Company's social security registration report
SPS 1-03, 1-03/1 - New employee registration report
SPS 6-09 - Resigned employee registration report
SPS 1-10 - Monthly social security report
2.4 - KT.20 K - Annual employee's salary report