Payroll Services in the Philippines
Processing payroll in the Philippines demands costly work hours and burdensome data entries. Accurate calculations on salaries and tax deductions have to be made. Appropriate compliance with government deadlines and requirements have to be met to avoid penalties. And in between these two processes are other complex tasks that require a well-trained staff to ensure they are conducted accordingly.
We at ITS believe that an efficient payroll process requires optimized resources and a payroll software system devised specifically to cater to local processing needs, aside from a detail-oriented and competent team of Payroll Specialists and Accountants. And we offer our clients the best of all these.
The huge burden of a miscalculation, missed deadline or incorrect filing of taxes can result in penalties various Philippine government agencies. These can be worsened by manual payroll computations which usually take days to complete compared to automated software processors that run payroll in just a few clicks. We can help you avoid these unwanted issues by managing your processing needs through the use of our automated software processors, as well as our supplementary cross-checking of traditional spreadsheets to ensure a seamless and errorless process.
All we require you to provide are the following:
- Employee details and a copy of the Contract of Employment for each employee
- BIR Form 2316 from previous employer
- Monthly timesheet details, including the number of hours worked, overtime hours, tardiness, and absences
- Payroll register showing individual salaries due to each employee with the corresponding payroll taxes withheld and deductions for SSS, Philhealth, and HDMF for each period
- Bank transmittal report reflecting the name of the employees, their corresponding net pay, and individual bank account number where the payroll amount shall be credited
Upon receipt of these requirements, we process your employee payroll in 5 easy steps:
1. We gather the monthly timesheets and other necessary documents that you provide
2. We conduct computations on the gross salary, attendance, withholding income tax, and government contributions due to each employee
3. We send payroll documents to your office for review and approval
4. Upon your approval, we finalize the payroll documents, generate your bank’s payroll files, and send your employees their individual payslips through e-mail
5. We produce the necessary government reports and send them to appropriate agencies on your behalf
We provide payroll processing services to companies in the prime business locations of Metro Manila, such as Makati City, Manila City, Bonifacio Global City (BGC), Quezon City, Ortigas Center, and Mandaluyong City.
Subject to certain conditions under local labor laws and standards, we can also provide special payroll services to businesses in major cities outside Metro Manila, in locations such as Bacolod City, Clark City, Subic Bay, Cebu City, Iloilo City, Baguio City, and Davao City.
Contact a ITS Payroll Specialist Now!
Focus on your core business objectives and let our payroll specialists and in-house accountants at ICG manage your payroll concerns for you.