The small business owner has a lot on his or her mind. You have to be able to do something of everything!
Once you have employees working for you, there comes yet another aspect of being a small business owner to your plate… payslips, employee taxes, monthly tax deadlines and if you are late and get behind, penalties and interest with SARS and the Department of Labour that will haunt you.
For the small business owner saving money and time, and focusing on your core business is crucial. You want to be able to focus and no extra stress is needed.
Due to the weekly and monthly tasks that needs to be completed and the deadlines that cannot be missed, most small business owners feel more at ease when an external party is taking care of this very important function of your business.
When the Payroll function is outsourced, the business owner can focus on what needs to be done in the business without concerns about the administration of the Payroll.
WHY OUTSOURCE YOUR PAYROLL?
- When the Payroll function is outsourced, the small business owner can focus on what needs to be done in the business without concerns about the administration of the Payroll.
- Keep salary information confidential
BENEFITS OF OUTSOURCING YOUR PAYROLL TO PAYROLL 4 SA:
- You don’t have to spend time and money on getting payroll education for yourself or an employee as it is a complex process and yearly the tax tables change, not to mention the laws you need to keep up with to be able to deal with payroll.
- You don’t have to spend money on a payroll software program which costs a few thousand rand.
- You don’t have to pay yearly license fees for this software to be up to date to the latest changes.
Therefore you will rather consider outsourcing the payroll function to someone who deals with it on a daily basis, who has the payroll software, who pays the yearly license fees and who can give you accurate and timely service.
WHAT HAPPENS WHEN I PAY AN EMPLOYEE A SALARY?
When a person works for you for 24 hours or more in a month, you need to register them for UIF. You as employer will first register a UIF reference number with the Department of Labour and then register your employees under your UIF reference number. We assist with these registrations, ask us how….
It doesn’t matter if they are permanent or not, has a contract or not. If they work for 24 hours or more in a month, you as employer by law must register them for UIF.
WHAT HAPPENS AFTER REGISTERRING MY EMPOYEES FOR UIF?
Both the employee and the employer pays 1% of the gross salary to the Department of Labour for UIF contributions. When the employee needs to claim UIF in the future when unemployed for a period, these UIF contributions needs to be up to date.
WHERE DOES PAYE (Pay as you earn) TAXES COME IN?
When the salary of an employee is more than a certain amount, PAYE taxes becomes payable by the employee. The employer are appointed by SARS to pay over these PAYE taxes of the employee each month. For the 2015 financial year, when a nett salary is more than R5833.00, the employee needs to pay PAYE on his salary. The employer needs to calculate what the taxes will be on the employee’s salary, subtract it, pay the taxes over to SARS and pay out the rest to the employee. We assist in registerring the employer for PAYE with SARS, ask us how….
WHAT IS INCLUDED WHEN PAYROLL 4 SA TAKES CARE OF MY PAYROLL ADMINISTRATION?
- We have different payroll packages depending on your specific needs, but here is a summary of what could be included:
- Creating professional payslips which shows the basic salary, leave available or taken, balances of staff loans, overtime, bonuses, money taken in advance
- Calculating the monthly/weekly taxes payable to SARS and the Department of Labour
- Providing various monthly/weekly reports (monthly analysis report, cost to company report, leave report)
- Creating the monthly EMP201 report which is a summary of the employee taxes
- Submitting the monthly EMP201 to SARS
- Confirming to you when to authorise the payment on your internet banking for employee taxes to SARS each month
- Creating the bi-annual EMP501 to SARS (which is a summary of the first six months and later of the 12 months of the financial year’s employee taxes declared and paid over)
- Submitting the bi-annual EMP501 to SARS
- Submitting monthly UIF declarations to the Department of Labour (confirming what amounts was paid over for UIF on each employees salary)
- Registering employees for income tax reference numbers
CONTACT US TODAY TO DISCUSS YOUR PAYROLL NEEDS!
Phone: 076 6544 854