Payroll Processing
Ensure your team is paid in compliance with local regulations—no in-house payroll team needed. We manage mandatory benefits, social insurance, and employee taxes for you.
What is Payroll Processing Service?
Payroll Processing Service is a comprehensive solution that manages all aspects of payroll administration for businesses. This includes calculating salaries, withholding taxes, and managing social insurance contributions. By outsourcing payroll processing, businesses can ensure that their employees are paid accurately and on time, and that all legal and regulatory requirements are met.
In Which Situations Clients Need a
Payroll Processing Service
- Compliance Requirements: To ensure adherence to local labor laws, tax regulations, and mandatory social insurance contributions.
- Resource Optimization: When businesses want to allocate more resources to core operations rather than administrative tasks.
- Scalability: For businesses experiencing growth and needing scalable payroll solutions.
- Cost Efficiency: To reduce costs associated with maintaining an in-house payroll team and related technologies.
- Accuracy and Timeliness: To avoid errors and delays in salary payments, tax withholdings, and benefit contributions.
How Payroll Processing Service Works?
Gathering employee information, work hours, deductions, and benefits details.
Calculating gross pay, deductions, net pay, taxes, and social insurance contributions.
Ensuring all payroll processes adhere to local laws and regulations.
Providing detailed payroll reports, including payslips and tax filings.
Maintaining accurate records of all payroll transactions for auditing and reporting purposes.
Benefits of Using a Payroll Processing Service
Compliance Assurance
Ensures adherence to local employment laws, reducing the risk of penalties and legal issues.
Cost Efficiency
Avoids the high costs and complexities associated with setting up and maintaining a legal entity in a foreign country.
Time Savings
Frees up time for HR and management teams to focus on strategic initiatives rather than administrative tasks.
Accuracy
Minimizes errors in payroll calculations, tax withholdings, and benefit contributions.
Scalability
Offers flexible solutions that can scale with the business as it grows.
Benefits of Using a Payroll Processing Service in China
In China, each city has its own policies that are involved regarding payroll calculation and processing (image China has 670+ cities). Even if your business operates in just one city, there are still 160+ policies that may impact payroll calculation and processing. Working with a professional payroll company is the best option if you don’t want to invest a lot on payroll capability.
Mandatory contributions in China includes pension insurance, medical insurance, maternity insurance, unemployment insurance, work-related injury insurance (together, they are called social insurance), housing fund, individual income tax, disability fund and union fee (not 100% but almost mandatory).
Navigating Complex Regulations
China has intricate labor laws and tax regulations. A payroll processing service ensures compliance with these regulations, including payroll taxes, social insurance, and housing fund contributions.
Cost and Time Savings
Setting up and maintaining a payroll system in China can be costly and time-consuming. Outsourcing to a payroll service provider saves both time and money.
Local Expertise
Payroll service providers in China have deep knowledge of local business practices, regulatory requirements, and cultural nuances.
Efficient Payroll and Benefits Management
Ensures timely and accurate salary payments, tax withholdings, and benefit contributions according to Chinese regulations.
Risk Reduction
By managing compliance and regulatory requirements, a payroll processing service reduces the risk of legal issues and financial penalties.
Focus on Core Operations
Allows businesses to focus on their primary activities and strategic goals while the service provider handles payroll complexities.
Key Services Details of Payroll Processing Service Provided by HROne in China
Using HROne’s payroll processing service in China provides businesses with a reliable and compliant payroll solution that simplifies HR operations, ensures accurate and timely payments, and allows companies to focus on their core competencies.
- Payroll Setup and Configuration: Initial setup of payroll systems, including data migration and configuration according to client requirements.
- Data Collection and Entry: Collecting and entering payroll-related data, including employee details, work hours, and benefits.
- Salary Calculation: Calculating gross pay, deductions, net pay, taxes, and social insurance contributions.
- Tax Filing and Compliance: Ensuring compliance with local tax laws, filing taxes on behalf of the client, and managing social insurance and housing fund contributions.
- Employee Accounts Management: Managing employee accounts within the payroll system, ensuring accurate record-keeping and compliance.
- Payslips and Reporting: Generating detailed payslips for employees and comprehensive payroll reports for the client.
- Online Portal Access: Providing clients and employees with access to an online portal for viewing payroll information, payslips, and reports.
- Support and Consultation: Offering ongoing support and consultation to address any payroll-related queries or issues.
Key Processes of HROne Payroll Processing Service
#1: Onboard Client
- Initial Meeting: The client meets with the Account Manager.
- Information Collection: HROne collects the required materials and information from the client.
- Policy Introduction: HROne introduces relevant policies and provides a guide to using the online portal.
- Process and Template Confirmation: Client and HROne confirm the work calendar, processes (monthly, year-end, onboarding, offboarding, service termination), templates (information exchange form, payment notice), other benefits, and salary structure.
- System Setup: HROne sets up the client’s policies and templates in the system.
- Employee Details Submission: The client provides personal and payroll details of each employee.
- Data Upload: HROne uploads the client’s employees’ information into the HROne system.
- Portal Access: HROne grants online portal access to the client and its employees.
- Service Commencement: The service officially starts.
#2: Monthly Processing
- Policy Updates: HROne communicates any changes in government policies to the client. Information
- Submission: The client provides payroll-related information. Payroll
- Preparation: HROne prepares detailed payroll information, including salary, social insurance, housing fund, individual income tax, service fees, and other payments.
- Client Confirmation: The client reviews and confirms the payroll details. Service Fee
- Payment: The client pays the service fee.
- Portal Update: HROne updates the online portal, grants access to new employees, and removes access for offboarded employees if required.
#3. Year-end Processing
- Calendar Confirmation: The client and HROne confirm the work calendar for the upcoming year.
- Annual Salary Report: HROne prepares the annual salary report, including data on offboarded employees.
- Report Confirmation: The client reviews and confirms the annual salary report.
- Policy Announcements: The government announces new policies.
- Policy Briefing: HROne briefs the client on updates to government policies.
- System Updates: HROne implements the updated policies into the system.
#4. Offboard Client
- Service Termination Confirmation: The client and/or HROne confirm the termination of services.
- Handover Process: Client and HROne confirm the handover process, including accounts, materials, and information.
- Final Payment Notice: HROne prepares the last payment notice, including any historical balance.
- Payment Confirmation: The client reviews and pays the final payment notice.
- Final Handover: HROne hands over all accounts, materials, and information to the client.
By following these processes, HROne ensures that payroll processing is handled efficiently, accurately, and in compliance with all relevant regulations, providing peace of mind and allowing businesses to focus on their core activities.
