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Managing the payroll of the firm may sometimes be the most challenging of all of the many activities that need to be completed. When we speak about payrolls, we are referring to payments, salaries, wages, overtime, double-time, commissions, taxes, bonuses, raises, salary deductions, and other aspects of compensation all at the same time.
Payroll administration is the difficult task of keeping track of your employees’ financial data, such as pay, benefits, taxes, and deductions. Calculating your employees’ salary, issuing payments, preserving payroll records, and collecting tax forms are all part of payroll management.
Outsourcedpayroll services: HIVE360’s outsourcedpayroll services are fully HMRC compliant. They are focused on delivering improved and alternative support to strategic payroll solutions, in step with evolving legislation such as IR35 and the Good Work Plan. For more information: www.hive360.com
And once your company employs more than 100 employees, you’re legally obligated to send workforce data to the Equal Employment Opportunity Commission (EEOC) in an EEO-1 report (although there are a few cases, too, where companies with less than 100 employees must file). Payrolltax. Recordkeeping. Anti-harassment training.
Consider hiring a company that specializes in payroll processing to ensure that requisite payrolltaxes and deductions are withheld. Your HR generalist should be capable of handling payroll, tactical HR duties (leave requests, new employee paperwork and files, etc.) and most associated tasks. Essential HR functions.
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