Payroll Services in Bangladesh: Features, Benefits & Costs

Payroll Services in Bangladesh

There are many things to consider when operating a business of any size and payroll is just one of those concerns. As a business grows it becomes increasingly important to track and pay all employees appropriately and to ensure they are paid on time and fairly. This becomes more complicated as more employees are added, taxes need to be deducted or tracked, and seasoned employees get raises and promotions. Information is confidential and sensitive, making professionalism and extensive knowledge key to the payroll system.

Whether you are a small business that is just growing and developing your employee and payroll systems, or you are an accomplished business with growing needs, we are here to help you keep up with the demands of your business and give you more time for other tasks. Hiring a payroll management company is both time and expense efficient, saving you both time and money with confident, experienced payroll managers. Our managers are fully informed and certified so that you don’t have to worry about knowing everything about how your payroll system works or the small details of entering any changes, maintaining the information, and double checking each step of the way.

In order to avoid mistakes, follow all payroll laws, and ensure all record keeping is exact, hiring a payroll service in Bangladesh can be a great choice. Employees are an important part of any business and become the face of the business, making them the best possible investment for success. Let us help with full payroll services to keep you and your employees content and paid.

Features of Payroll Management Services:

As payroll is an impersonal and exact part of the business, without the need for creative solutions or direct involvement in the day to day, it is an easy part of the business to delegate to a professional. We offer full payroll services in Bangladesh and are able to manage your full payroll and all taxes, regulations, and employee relationships regarding pay. We offer many services and features to our packages, so that you can ensure all of you payroll needs are met and that things will be done correctly and on time every time.

New Employees:

Registering new employees and including their pay so it is tracked from the moment they begin to work is key to remaining in compliance with all payroll laws. It also provides confidence in the company. Pay is the main reason that anyone works and ensuring that their pay is provided correctly and on time is key to employee retention and satisfaction.

Weekly Payroll:

Each week hours must be tracked and pay submitted for the hours worked or for the salary earned. The larger the company and the more employees there are, the more corrections, updates, and follow ups will be necessary when gathering the information and confirming it is accurate. This is the first step to providing accurate and efficient payroll services and our payroll management services in Bangladesh take care of all these small details for local companies.

In addition, all pay rates must be recorded and paid correctly with no room for mistakes in the small details. This requires ongoing knowledge of all employees and their pay rates, their time working, and their information for submitting pay. Whether it is paid to the bank account directly or if a cheque is being written it must be correct each time with no room for mistakes. This is best done by a professional who is comfortable with the software and programs that track hours and pay and the information on the staff for their pay to be released. This job is sensitive and has access to private and protected information so all staff with access should be fully vetted and informed about privacy regulations. We ensure that all staff are properly trained and will follow all restrictions on information exactly.

Taxes:

Tracking business taxes is a lot of work but tracking and filing taxes every payroll is just as important and time consuming, if not more. This is a great task to delegate to our company where all employees are fully trained in tax laws and regulation for Bangladesh and will ensure that your company is compliant with all requirements. We follow all local tax laws and others that apply to the business, and regulations that are specific to your industry.

Create Payroll Systems and Procedures:

If you are a new business, you may not have a system in place to manage your payroll or have chosen a program to manage all your payroll needs. Not only are we able to help manage your payroll but we can develop a system that works for your business and its specific needs. We adapt it as your company grows and you hire more employees, keeping it seamless regardless of the size of your business or the speed of your growth. Old paper methods of tracking payroll are time consuming and easy to misplace or damage, so we help to set up a program that will work for your needs and keep it paper free, password protected, and easy to use. Our payroll management services in Bangladesh are here to not only help you build a payroll and employee system but also to manage it long term.

Operate Payroll Systems and Programs:

From onboarding paperwork to final pay cheques, payroll can be complicated and time consuming. We provide support services for any payroll programs that we install and can help to train an employee to operate it as well. We can provide ongoing support services, or we can provide ongoing operation of your entire payroll system. There are several benefits to hiring an outside company or person to operate your payroll and to maintain the programs and systems that keep your employees paid including time and money savings. We can complete all updates and inputs, check payroll before it is released, and ensure that all pay is released and delivered on time. This may include keeping employee files up to date and inputting promotions and raises as they occur.

Benefits to Payroll Management Services:

There are several benefits to having professionals manage your payroll. Having a person in house who is responsible for the payroll system can be costly, especially for small business with few employees as you will require a full-time salary employee to manage payroll and related topics. Our company offers you an opportunity to pay a professional only for the time that they need to work to complete your payroll needs without having an office, benefits, or full-time salary. As we work for many companies we cover most of the overhead and you pay only for the hours worked and the tasks completed.

Professionals are also less likely to make mistakes, and better able to correct them quickly if they do occur. They are well experienced but offer services at a more affordable rate as they would work with you only for the hours needed. This provides you higher value and higher quality work from a more experienced professional than you may be able to find through other services. By working with several companies, we are able to work full time hours and gain the experience of different industries and provide a more

Cost of Payroll Management Services:

The cost of payroll management services in Bangladesh, like anywhere else, will vary depending upon the size of your business and the number of employees, as well as the industry that you are in. Small companies will require less time to operate and upkeep the payroll and are able to pay for fewer hours, while a larger business will require more hours each week and therefore cost more, but may have the benefit of economy of scale with the cost per employee being less.
Our cost structure considers how complicated your payroll is, which of our services you require, and the size of your employee base. We will provide a quote based upon your specific situation for the best value to you. This includes any programs or systems that you use, and the operation of those programs, the hours spent on maintaining your system and ensuring all updates are completed efficiently, and both checking and releasing employee pay.

When you are preparing to launch or upgrade your business there are many considerations and tasks to take care of. Let us help with your payroll management so you can focus on the other areas of your business and know that your employees will be paid correctly on time, and following all of the laws and regulations. Hiring a full-time payroll manager is expensive and may require training in your industry, and beginning payroll managers will be inexperienced and more likely to make mistakes or to need additional coaching. Our company provides only fully trained and experienced managers for your payroll. We retain employees from a wide range of industries so we can provide the best experience for each company we work with.

Frequently Asked Questions (FAQs)