While conventional wisdom might dictate that payroll services are services that a small organisation can handle in-house at a far cheaper cost than if it were outsourced, the reverse is actually true. While one person may be capable of handling the payroll function, there are significant overheads involved in terms of legal fees and audits of payroll. By outsourcing payroll, you can delegate these functions to experts whose job it is to keep abreast of changes in the law, ensuring ongoing, timely compliance.
Outsourced Payroll Services
Affiniax’s outsourced payroll service is available to help manage your company’s payroll. Our payroll services include the tallying of your company’s pay cycle, the accounting of on-demand services, end-of-month services, and end-of-year services.
Further, your provider is obligated to learn the payroll management norms of your company, as well as what the just and timely standards are for your employees’ compensation, in order to ensure that they adhere to the same. This ensures that outsourcing such services leads to no change in your company’s payroll function, unless there are compliance issues.
Advantages of Outsourcing Payroll Services
Outsourcing your payroll services ensures that your company’s compliance with existing laws, as well as new laws, will never be a problem. It also ensures that your company pays all payroll-related dues in a timely manner and can plan for expenditures that are annual or quarterly in nature.