
Payroll is an important part of a business as staff are assets and if their salaries are not paid on time
and correctly it can cause numerous problems in the business.
Reasons to Outsource Payroll
- Payroll systems hold confidential information that should not be accessed by staff members. Storing the information offsite improves data security.
- The statutory requirements in respect of PAYE, UIF and SDL needs to be done correctly to avoid penalties and interest from SARS.
- IRP 5s need to be produced annually
- Takes the hassle away from the businesses and allows the them to focus on bringing in revenue rather than dealing with staff issues relating to payroll.
- Gives the Employer peace of mind that the payroll and deductions are correctly reflected on staff members payslips.
- Shifts the accountability to the outsourced partner.