Payroll services for businesses in Vietnam

Human resource management, payroll calculation and salary deductions are important jobs of every accountant at the company. Thus, how to build a reasonable salary scale to ensure the interests of employees as well as optimize personnel costs in the production and business process? Please refer to the payroll service for businesses at Viet An tax agent.

What is Payroll Accounting

In the organizational chart of the internal accounting apparatus, payroll accounting is an important and indispensable part. Salary accounting determines the interests of employees through recording, timekeeping and calculation of salary funds and allowances. If a company has a large number of employees, the process and requirements set for payroll accounting must be more professional and strict.

Who should use payroll accounting

Subjects who should use payroll services for businesses at Viet An tax agent include:

• The enterprise has just been established and has not been able to complete the accounting apparatus.
• Newly established enterprises and directors have not yet recruited payroll accountants.
• The business operates with a small staff, so hiring an external payroll service will help business owners save costs.
• Enterprises have accountants but need advice and support from experts related to salaries and salary deductions before finalizing and preparing annual financial statements.

Payroll services for businesses

Viet An Tax Agent provides payroll services for businesses to optimize costs and ensure the interests of employees. The main tasks of payroll services for businesses include:

Manage HR records and calculate payroll

• Timekeeping for employees as a basis for paying reasonable income.
• Deduct compulsory social insurance and allowances under labor contracts.
• Stay up-to-date on payroll policy changes, make reports, and confirm payroll monthly.
• Transfer and pay salaries to employees in the form of direct line or direct cash receipt.

Manage compulsory social insurance and other welfare policies

• Examining and managing salary funds, social insurance, health insurance and trade union funds to ensure the calculation and allocation of reasonable costs as a basis for calculating cost prices for production and business activities.
• Make reports on increases, decreases, and finalize monthly social insurance numbers for employees if needed.
• Manage the payment of compulsory insurance and properly implement the sickness, maternity, and survivorship regimes for officials and employees.

Manage salary advances

• Responsible for managing monthly salary advances for employees.
• Calculation and regulation of advance salary for employees or for each department.

Give legal advice and support for businesses

• Advising businesses on issues to optimize salary costs while still ensuring the rights of employees as well as related legal procedures.
• Ensure to update and proactively comply with the latest legal regulations on labor and salary fund management.
• Provide flexible and effective solutions to help businesses reduce financial burdens, promote production and business activities.

PIT finalization support for individuals and businesses

Based on the actual payroll built in 12 months, Viet An tax agent will be responsible for completing the PIT finalization declaration for cases where the employee authorizes the finalization. Our unit will also accompany you if there are any requests for explanation from the social insurance agency or the tax authority directly managing it.

Information to be provided to use payroll services for businesses

To use the payroll service at Viet An, the customer needs to provide some specific information to ensure that the payroll calculation takes place throughout. Here is some information that customers need to note:

• Enterprise tax identification number.
• C12 relates to workers’ insurance.
• Information related to the enterprise’s labor as a basis for drafting labor contracts and finalizing PIT.
• Information related to dependents of company employees.
• Information related to PIT deductions, social insurance payments.
• Information related to the bank account used to pay the salaries of employees as well as the business.

Above is all the details related to payroll services for businesses in Vietnam. Please contact Viet An tax agent if your company has not established a reasonable salary regulation as well as does not have a salary accounting department! We are ready to accompany customers to bring the best solutions throughout the production and business process!