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PROFESSIONAL PAYROLL SERVICES AND COMPLIANCE WITH VIETNAMESE LAW

The use of Payroll Services  is one of the appropriate options and brings many benefits to enterprises in the process of operation, especially for small and medium enterprises.

Salary calculation is one of the required monthly tasks. However, if the person-in-charge in this field does not have experience and knowledge about Labor Law, Personal Income Tax, Corporate Income Tax, Social Insurance, Trade Union Funds, Periodic Labor Reports, Terms contract… the salary calculation will have many potential risks. In addition, the superiors will have to take a long time to check.

To overcome these problems, the use of payroll services provided by a professional company is an effective solution brings many benefits to enterprises.

1. Benefits of outsourcing payroll services of VNC Consulting

For foreign enterprises newly established and operating in Vietnam, in order to be able to fully understand and implement the legal provisions on the employment of workers (domestic and foreign workers), and tax code registration procedures, social insurance registration and declaration, compliance with labor reporting, social insurance obligations … is an extremely difficult issue. This takes a lot of time and will lead to reduce work efficiency as well as increase unnecessary costs for enterprises.

With the experienced and well-trained staff of VNC Consulting, the issues of compliance with regulations related to the payroll of newly established foreign enterprises and small and medium enterprises will be resolved promptly in accordance with Vietnamese law. In addition, the procedures and regulations related to the salary calculation will also be complied with in the most complete and accurate manner.

Outsourcing payroll services brings enterprises many benefits as follows:

a. Compliance with legal regulations

Not really understanding Vietnam’s labor regulations is a common problem not only for foreign enterprises but also for small and medium domestic enterprises when they are newly established in Vietnam. VNC Consulting will offer and advise enterprises on high quality payroll services, ensuring that enterprises fulfill their obligations under the labor laws in Vietnam. Enterprises will avoid unfortunate law violations that lead to unnecessary costs of paying penalties or bear other legal liabilities.

b. Limit the risks

Risks in the wage calculation process will be minimized with a team of highly specialized and experienced in working with state agencies as well as experience in handling and management of wages. Enterprises can be completely assured and trust the payroll service of VNC Consulting.

c. Cost savings

Hiring a full-time employee for the HR department will make an enterprise should spending a large expense, and it is also very complex. Therefore, outsourcing payroll services will be the most suitable solution for the financial situation of the enterprise. Enterprises do not need to worry about recruiting or converting personnel for this job but only need to pay a reasonable cost periodically.

d. Make sure it’s accurate and on time

The professional and reliable payroll service of VNC Consulting has strict procedures and always complies with customer information confidentiality policies. Besides, the calculation of the salary and monthly salary of the enterprise will always be confidential, completed on time and most accurately.

2. The process of VNC Consulting’s payroll services

  • Prepare and check payroll on monthly basis.
  • Prepare and submit periodic Labor Reports.
  • Calculate and instruct how to pay union fees.
  • Comply with labor regulations and declare personal income tax.
  • Comply with regulations and procedures for social insurance, health insurance and unemployment insurance.
  • Create Payslips for employees; and VNC will generate a password for these Payslips when issuing via email according to customer request (if any).

Above are the reasons why enterprises should outsource payroll services, and the article also outlines the advantages when choosing to use VNC Consulting services.

If your enterprise needs to use the Payroll Service or have any questions related to the payroll, please contact VNC Consulting via Website: https://vnc-os.com/ or Hotline: (+84) 28 6670 3100 – (+84) 902 595 171 for the support and advice.

Best regards!