HR and Payroll Outsourcing Services
PayrollBD is one of the leading payroll outsourcing companies in Dhaka. Payroll services are not as straight forward as in other countries. Challenges include the calculation of the termination payment, which can be sensitive under the new labor law. In addition to that, the employer needs to encourage employees to pay mandatory Individual income tax. Many employers also ensure pension and housing fund contributions, medical insurance, unemployment insurance, work injury insurance and maternity insurance.
Managed HR and Payroll Outsourcing
Through our Employment Solutions, we enable companies in Bangladesh to hire and pay their employees in Dhaka and Chittagong. Foreign companies often start slow with small investments. They start with low profile in local industries to minimize risk factors. By outsourcing payroll management services and employment requirements to an employer of record, along with other administrative tasks such as acquiring visas for foreign employees, companies are free to pursue the core of their business in China without having to manage technicalities and accumulating legal risks.
Our Core Service features
- Ensure accurate payments worry-free
- Reduce HR costs and admin burden
- Get payroll and stat reports, bank payment files and online payslips for your employees
- Gain access to a dedicated team of payroll experts
- Labor contract signature
- Monthly payroll
- Staff visa processing
- Personnel tax compliance
- Statutory benefits compliance
- Medical insurance
- Expense claim
- Benefits & bonus
End-to-End Payroll Outsourcing Process
Payroll isn’t just about paying your people. Let’s face it, you didn’t get into business to manage paperwork and keep track of payroll legislations. Our Services Cover :
- Consolidated, error-free documents & reports with sharper business intelligence.
- Decreased IT infrastructure investment.
- Speedy resolution of employee queries.
- Support your entire employee payroll life-cycle, from their date of joining to exit.
PayrollBD summarize the payroll processing scope of work as an amalgamation of 3 key activities segmented as
- Monthly Payroll Processing Activity.
- Quarterly Payroll processing Activity.
- Yearly Payroll processing Activity.
We pride ourselves in delivering the highest possible standards in payroll processing and this has been possible due to our high levels of automation. Our Internet-based portal allows quick approvals and disbursements while maintaining security, accuracy, and confidentiality. We understand and appreciate the importance of confidentiality of employee data. Our Payroll processing system meets the height standard for adherence to the payroll process and IT controls. Some of the measures that we take to ensure data security are:
Access to payroll system is only through terminals that cannot store or copy data.Payroll processing system is not accessible through unauthorized means such as portable devices, printers, email or any other means.Breach of data security through unauthorized means triggers notification immediately
Customized Payroll Outsourcing Solutions
Adding another layer of complexity is the constant revision of the minimum wage level and welfare by the Bangladeshi Government on an almost yearly basis. In light of the new labour law, the demand for professional, in-country payroll services is growing. We are here to help you with this. We offer professional, quick and highly reliable accounting practices to take away the stress of payroll regulation. This allows you to focus on sales and growth. Our associates can help you with:
- Payroll Processing Setup
- Hiring Expatriate Employees
- Hiring Local Employees
- Accounting & Bookkeeping
The company comprehensively addresses full and final settlements to ensure complete compliance with legal company policies.
Our specialists can understand all the intricacies involved in the full and final settlement process.
We range of relevant management facilities are–
- Calculating payable days
- Leave Encashment days/Notice Period recovery
- Other payments/deductions
- Consolidated reports on net payable/recoverable, final tax workings, journal voucher etc.
Offshore Payroll & HR Services
Bangladesh has an eight-hour workday, with a 44-hours work week. Here salaries are payable at a monthly basis. Labor agreements often causes complexities among employers.
Our business services on the go
- Initial payroll setting up, which includes:
- Employer registration with statutory social benefits
- Applying for employee’s labor manual from relevant authorities (if applicable)
- Update your entity staff’s details
- Coordinate with a bank of your choice entity on proper payroll procedures (if applicable)
- Assistance in opening a personal bank account for each employee
- Salary calculation and net salary payment arrangement
- Preparation of your staff’s payslips
- Payroll report for your local accountant
- Assistant with external audits and inspection by social benefit authorities
- Assistance in payroll system set up.
- Define and communicate your requirements in a local language, establishing vendors’ roles and responsibilities
- Ensure compliance with processes and procedures
- Create open and seamless communications that link your vendors, PayrollBD and your operations
- Promote a spirit of teamwork that drives continuous improvement throughout the entire supply chain
We have a demonstrable track record in handling large volume, complex payroll. With 10 years of payroll experience servicing world class organizations, a regional delivery network, a single instance regional proprietary payroll platform, PayrollBD is uniquely positioned to help you eliminate your payroll headaches.
Managed HR and Payroll Outsourcing Services
Our Wide Array of Payroll Managed Services include
- Maintain payroll file for each employee
- Salary calculation on bi-monthly or monthly basis
- Process gross to net salary and applicable PF, TIN, BIN, or insurance contributions
- We process bonuses or any ad-hoc payments
- Develop no pay leaves and expense claims
- Salary disbursement to employees via Bank BFTN transfer
- Publish secure online payslips via Pay Advice portal
- Provide detailed payroll report for management’s review
- Prepare ad-hoc statutory claims like national service, maternity, childcare etc.
We ensure timely and accurate salary disbursements to employees via our trusty account. By this organisations can streamline and increase the efficiency of the payroll process.
Secure Cloud-Based Payroll Outsourcing System
We hosts your payroll records in a secured cloud-based HR system and employee self-service portal. All you have to do is send your data to us using your choice of our cloud-based portal or email. From there, we’ll do our calculations and report them back to you.
We have multiple scopes to work with
- Salary and Tax Services
- Salary and tax policy consultation in various local governments
- Monthly wage calculation and delivering
- Income tax declaration
- Leave management
- Reimbursement management
- Customized Pay Slip
- Cloud-based payroll system
- Social Insurance Services
- Social insurance policy consultation in various local governments
- Company social insurance account and individual account
- Personal account management
- Account merging and transfer
- Welfare Management and Distribution
- Commercial insurance management
- Medical insurance management
- Accident insurance management
- Foreigner insurance management
- Employee Entry and Settlement
- Employment work and residence permits
- E-Visa and Work-Permit Processing