MONTHLY PAYROLL SERVICES

Accurate payroll services at fixed monthly prices

The importance of accurate payroll services in South Africa

Payroll services and processing refers to the systematic and organised process of implementing employee compensation. It involves managing various financial aspects of employee salaries, deductions, benefits, and statutory contributions. Payroll processing includes calculating employee wages, withholding taxes, deducting contributions, and issuing accurate employee payments.

Payroll processing is critical to any organisation’s operations, ensuring employees receive accurate and timely compensation. South Africa’s legal and regulatory framework governing payroll processing makes it essential for organisations to comply with these laws to avoid legal repercussions.

Accurate payroll processing contributes to fair and ethical employment practices while meeting the financial obligations of both employers and employees. Key legislation and regulations related to payroll processing in South Africa include:

Payroll Services

  • Basic conditions of employment act (BCEA): The minimum employment standards in South Africa for working hours, leave entitlements, overtime pay, and public holidays must be adhered to.

  • Income tax act: Tax calculations, deduction from salaries, tax return submission to SARS, and payment of tax liabilities per each employee’s salary must be calculated correctly.

  • Unemployment insurance act: UIF requires employers to deduct UIF contributions from employees’ salaries and remit them to the UIF.

  • Skills development levies act: Mandates employers to contribute to the SDL by deducting from employees’ salaries and submitting it to SARS.

  • Employment equity act: Comply and report on employment equity to ensure non-discriminatory practices during payroll processing.

  • Basic guide to annual leave: Calculate minimum leave entitlements for employees, including granting annual leave, sick leave, and family responsibility leave.

  • Protection of personal information act (POPIA): Employers must ensure compliance with this law when handling employee data during payroll processing.

HTCO Group specialist payroll services

At HTCO Group, we take immense pride in delivering exceptional expertise in professional cloud-based monthly payroll services throughout South Africa. Our management team comprises highly qualified chartered accountants and payroll specialists with extensive experience. Our services include the following:

  • Running entire payroll systems for companies.

  • Employee salary calculations, payslip generation and payment processing.

  • Payroll reporting and record keeping.

  • Tax, statutory deductions and contributions.

  • Benefits administration.

Monthly payroll services

At HTCO Group, we proudly present our Classic and Premium payroll packages tailored to meet your business needs. Our cost-effective service fee options allow you to enjoy exceptional value for your payroll processing needs.

  • Monthly payslips to employees

  • Monthly EMP201 submissions to SARS

  • Bi-monthly EMP501 reconciliation submissions to SARS

  • Annual IRP5 certificates for employees

  • Monthly UIF declarations to the Department of Labour

  • Payroll data integration with accounting software (if monthly accounting is applicable) or payroll journals

  • Salary reconciliations

  • Leave reconciliations

Require professional monthly payroll services?

Contact HTCO accountants in South Africa for expert payroll processing services.