Payroll processing is a critical function for any business, ensuring that employees are paid accurately and on time, while also complying with relevant tax and employment laws. Armor Consultancy offers Payroll Processing Services designed to streamline and simplify the payroll process for businesses of all sizes. Our comprehensive payroll services not only save time but also reduce the risk of errors, ensuring compliance with legal requirements and fostering employee satisfaction.
Here’s a detailed look at our Payroll Processing service offerings:
1. Comprehensive Payroll Management Armor Consultancy provides end-to-end payroll management, covering all aspects of the payroll process. We ensure that your employees receive their salaries and benefits on time and in compliance with the applicable laws.
Key Features:
Payroll Calculation: We calculate gross wages, overtime, bonuses, and other compensation elements based on time worked and employment contracts. Deductions: We handle statutory deductions (such as income tax, social security contributions, and health insurance premiums) and voluntary deductions (such as pension contributions, loan repayments, etc.). Employee Benefits: Management of benefits such as paid time off (PTO), sick leave, retirement contributions, and other perks. 2. Tax Compliance and Filing Ensuring compliance with local, state, and federal tax regulations is a core component of payroll processing. Armor Consultancy handles the complexities of tax calculations, filings, and remittance, reducing the risk of non-compliance.
Key Features:
Tax Calculation: We calculate and deduct the appropriate income tax, social security, and other payroll-related taxes from employee salaries. Tax Filing: We handle tax filing and reporting for all applicable government authorities, ensuring your business stays compliant with regulations. Quarterly & Annual Returns: We prepare and file quarterly and annual tax returns, such as 941s (U.S. federal payroll tax filings) and W-2s/W-3s for employees. Employee Tax Reports: We provide employees with annual tax reports (e.g., W-2 forms) detailing the taxes withheld and paid. 3. Direct Deposit & Payment Processing Armor Consultancy offers direct deposit services to ensure that employees’ pay is transferred securely and promptly into their bank accounts. We also handle other forms of payment, such as checks, when required. Key Features: Direct Deposit: We set up secure direct deposit payments for all employees, reducing the need for paper checks and ensuring timely payments. Check Payments: We also provide check payment options for employees who prefer to receive paper checks. Payment Distribution: We ensure that all pay distributions are handled correctly, including bonuses, commissions, or other compensation types.
