Fairway sa
Professional Accountants & Tax Practitioners
Fairway sa Professional Accountants & Tax Practitioners
Payroll Services
What Are Payroll Services?
Payroll Services:
All activities performed which provide for the processing and reporting necessary to handle employee compensation, such as computing earnings, withholding taxes, preparing payment, and preparing reports to various relevant government agencies.
Key Functions of Payroll Services
Encompass a wide array of core areas, which include:
- Processing of Employee information: Calculate gross pay from work hours or salaries and then deduct any withholdings or deductions.
- Processing of Pay: Calculate gross pay from work hours or basic salaries and deduct any withholdings or deductions.
- Calculation and Withholding of Payroll Tax: Using cloud-based payroll systems will automatically calculate and remit statutory taxes and mandatory deductions. All payroll-related calculations shall be performed by the services using the most recent tax rates.
- Fringe Benefits, Allowances, Deductions and Contributions: Manage employer contributions to medical aid, pension, provident and other funds. Manage employee benefits such as medical aid, motor vehicle, housing and other allowances, retirement fund contributions, ensuring accurate calculation and record keeping of each pay period.
- Record Keeping and Compliance Reporting: Keep accurate comprehensive records for compliance purposes and report in such a way that businesses remain compliant with local government requirements and labour laws.
How Payroll Increase Employee Satisfaction
Timely and accurate payment is very important for maintaining good morale among employees. These services avoid delays and errors in the payments; hence, they provide a comfortable and healthy atmosphere to the workplace, which helps retain productive workers.
Scaling with Business Growth
Cloud-based payroll subscriptions are regularly updated to ensure compliance with the latest tax changes, tax laws and regulations. This helps insure that your business remain compliant as it grows and stays competitive in active markets.
Tailored Financial Solutions
At Fairway SA, we understand that every business is unique, which is why our accounting solutions are meticulously crafted to meet your specific needs and goals, ensuring that you receive personalized, professional assistance that drives your success and fosters growth.
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Kleinzee, Northern Cape, South Africa
Open Monday to Friday from 8h30am to 16h00pm
