HR and Payroll Outsourcing Services
PayrollBd’s 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, the employer needs to help its employees to pay Individual Income Tax as well as mandatory social welfare, including pension and housing fund contributions, medical insurance, unemployment insurance, work injury insurance and maternity insurance.
Managed HR and Payroll Processing.
Through our Employment Solutions, we enable companies without a legal entity in Bangladesh to hire and pay their employees in Dhaka or Chittagong. When a foreign firm is interested in starting a business activity locally, they often wish to keep their risks low and start off with a small investment during their market entry phase. By outsourcing payroll 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 Processing
Payroll isn’t just about paying your people. And let’s face it, you didn’t get into business to manage paperwork and keep track of payroll legislations. In Covers :
- 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.
We 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 on 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 the 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 following payroll regulation thus allowing you to focus on sales and growth. Our associates can help you with:
- Payroll Processing Setup
- Hiring Expatriate Employees
- Hiring Local Employees
- Accounting & Bookkeeping
Full and final settlements are the concluding formalities that need to be comprehensively addressed to ensure complete compliance with legal as well as established company policies.
Our operational specialists are also industry experts who understand all the intricacies involved in the full and final settlement process. We manage everything from –
- Calculating payable days
- Leave Encashment days/Notice Period recovery
- Investment proofs and reimbursement claims during final settlements
- 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-hour work week. Salaries are paid on a monthly basis. Due to labor agreements, employers usually run into trouble when it comes to managing the payroll of their employees. The services of Business can help you:
- Initial payroll setting up, which includes:
- Employer registration with statutory social benefits
- Applying for employee’s labour manual from relevant authorities (if applicable)
- Update your entity staff’s personal details
- Coordinate with bank of your China entity on proper payroll procedures (if applicable)
- Assistant in opening personal bank account for each employee
- Salary calculation and net salary payment arrangement
- Preparation of your staff’s pay slips
- 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 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 own operations
- Promote a spirit of teamwork that drives continuous improvement throughout the entire supply chain
From hiring to termination, we provide peace of mind by ensuring your compliance with local laws while you and your employees enjoy savings, benefits, and conveniences larger companies take for granted. . 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 Services
Payroll Managed Services
- 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
- Process bonuses or any ad-hoc payments
- Process no pay leave 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 and submit ad-hoc statutory claims such as national service, maternity, childcare and other related forms
We ensure timely and accurate salary disbursements to employees via our trust account so that organisations can streamline and increase the efficiency of the payroll process.
Secure Cloud-Based Payroll System
Your payroll will be hosted on our secure cloud-based HR system and employee self-service portal. It’s simple to use and always available so that you can access and update your data whenever you want. Then, there’s the simple workflow. 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. Then, with your approval, we’ll give your employees pay-slips, transfer money to their accounts and file the applicable government reports. The scopes of our work are :
- 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