Payroll Outsourcing

Payroll outsourcing is the service when on the contract basis employees' pay-roll and other compensations are taken by a professional payroll outsourcing company.

As a professional payroll outsourcing company TalentPool offers the following services for payroll outsourcing:

Monthly pay-roll and compensations payments
Obligatory pension insurance statements issue
Payment of individual income tax and social tax
Payment of sick-leave allowance, vacation allowance, compensation for unused vacation time at resignation, business trip allowance
Reports to funds and tax authorities:
- quarterly reports to the Social Security Fund
- quarterly reports and annual declarations on consolidated social tax
- quarterly reports and annual declarations on pension fund payments
- personified reporting on pension fund payments
- annual personified reporting on individual income tax (1-NDFL, 2-NDFL)
- preparation of book-keeping reports and papers as required

Payroll outsourcing brings the following advantages and opportunities for TalentPool clients:

To minimise book-keeping processes
To reduce expenses due to reduction in staff numbers in Book-keeping office
To transfer expenses to the services expenditure item
To improve response to Human Resources and Finance services requests
To use best practices of an expert payroll outsourcing company
To concentrate on key business issues and to increase efficiency of the company

Pay-roll processing fully depends on frequency and quality of staff data renewal, therefore to enjoy additional benefits we would recommend to combine payroll outsourcing with personnel records management outsourcing.

More information:
10 Reasons to Outsource Payroll
Outsourcing: Payroll Services
Outsourcing Your Payroll Makes Perfect Sense
Will Outsourcing Payroll Make Your Life Easier?
Payroll Services