Payroll services for FDI company in Vietnam

Navigating the complexities of payroll services is crucial for Foreign Direct Investment (FDI) companies in Vietnam, as it ensures compliance with local regulations and enhances operational efficiency. If your business has a personnel mechanism and salary policy that is not really reasonable. Let’s learn about payroll services for FDI company at Viet An tax agent to have a suitable solution for your type of business.

Which companies need to use payroll services

• Startups: Startups that focus on developing services to maximize profits, and at the same time produce beautiful financial statements to attract investment capital. Therefore, when their payroll is consulted by a team of experienced and professional accountants, business management costs will be optimized, while reducing risks related to labor laws.
• FDI enterprises: FDI enterprises are foreign-invested enterprises in Vietnam. Therefore, their labor will be widely distributed across countries around the world. Each country will have different salary, tax, and labor laws. Therefore, using payroll services for FDI company will increase professionalism to help ensure compliance with laws according to each country.
• The company often has fluctuations in personnel: Fluctuations in personnel often appear for manufacturing companies. Especially factory and workshop workers. Therefore, if the company’s payroll process is undertaken by a person who is not highly qualified, it will be easy to make mistakes.

What are the benefits of payroll services for FDI company?

Payroll services for FDI company are born to bring the following benefits:

Minimize legal risks

Vietnam’s labor law is always changing and there are many detailed regulations and provisions attached that enterprises employing and operating in the territory of Vietnam need to comply with. Therefore, if your business does not update in time, the applicable salary regulations and unreasonable social insurance policies will cause labor disputes, affecting the reputation of the business. Not to mention, your unit may be dealt with and pay certain administrative fines for those violations.

Ensuring accuracy

If your business has many departments, departments and businesses of various types, it is extremely necessary to use payroll services for FDI company. The salary fund of FDI enterprises will be built on the basis of balancing costs and profits of enterprises, and at the same time complying with regulations on participation in social insurance, PIT calculation and prescribed allowances applied to officials and employees working at the factory.

Increase resource efficiency

Your business won’t waste time and resources on calculating and accounting for monthly payroll. If using payroll services for FDI company at Viet An tax agency, businesses will only spend a very small amount of money to have a complete payroll with a basic salary allocation and reasonable allowances, complying with the law.

In addition, when using the service, Viet An will be responsible for explaining to the social insurance agency and the State tax agency about the payroll and attached labor contract.

Learn more about payroll services for FDI company at Viet An tax agent

Calculate salary costs

• Basic salary: Based on the labor contract provided by the enterprise and the salary coefficient, the actual number of working days of employees will help calculate the basic salary for departments.
• Attached allowances: There will be 2 types of attached allowances, which are taxable allowances and non-taxable allowances. This allowance for each unit will have its own policies.
• Calculation of deductions: 10.5% deduction for social insurance, personal income tax, deduction for family circumstances and dependents,…

HR Data Management

Viet An Tax Agent will be responsible for updating the information of each employee according to the contract, salary, bonus and allowance attached. Then, based on the actual timesheet, it will calculate the actual salary table of each person over a month. At the same time, we also support the management of insurance regimes such as new registrations, insurance increases, insurance decreases and solve arising problems.

Tax declaration

According to the declaration period, Viet An tax agent will be responsible for declaring personal income tax on a monthly or quarterly basis for each officer and employee if authorized to finalize.

Provide accurate and complete data for the accounting process

Every month, our unit will be responsible for sending detailed payrolls, timesheets and salary payment tables to the customer’s unit. At the same time, it is responsible for comparing C12 with the number of employees of the company in that month.

Providing consulting services

For newly established businesses, we will support your unit in developing salary and bonus regulations in accordance with business conditions. In addition, the preparation of labor contracts and consulting on tax policies related to salaries and welfare regimes for employees. If necessary, support will also be provided.

Please contact us – Viet An Tax Agent for further advice and support on payroll services for FDI company in Vietnam!