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Payroll

Our payroll outsourcing services will lead you to manage your company’s payroll process according to your internal requirements and Turkish tax and labor law. Employees’ taxes are withheld from their salaries according to rates specified by local regulations and reverse charge mechanism applies in employer side. In other words, employers are responsible to pay their employers’ income taxes and social security premiums to relevant government offices on behalf of their employees.

  • Preparing and managing payrolls
  • Making required payroll accounting entries
  • Sending pay slips electronically to employees’ emails
  • Calculating severance and notice payments in case of resignation or dismission
  • Preparing required documents to be signed by employees in terms of resignation or dismission
  • Preparing monthly social security declarations and accruals according to payrolls
  • Making electronic submission to the social security institution’s information system in case of any terminations or new hires
  • Preparing detailed employee cost analysis reports according to your company’s needs.
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What Are Payroll Services?

Payroll services involve the management and processing of a company's payroll, ensuring that employees are paid accurately and on time. These services include calculating wages, withholding taxes, managing deductions, and ensuring compliance with local tax and labor laws. Payroll services can be outsourced to specialized providers who handle all aspects of payroll administration, from generating pay slips to submitting necessary documentation to government agencies.

How Can Payroll Services Benefit Your Business?

  • Compliance with Laws: Payroll services ensure that your company adheres to local tax and labor laws, reducing the risk of legal issues and penalties.
  • Accuracy and Timeliness: Professional payroll management ensures that employees are paid accurately and on time, which helps maintain employee satisfaction and trust.
  • Time and Cost Savings: Outsourcing payroll reduces the time and resources needed to manage payroll internally, allowing your business to focus on core activities and potentially reducing costs.
  • Confidentiality and Security: Payroll providers use secure systems to manage sensitive employee data, ensuring confidentiality and protection against data breaches.
  • Error Reduction: Expert payroll services minimize the risk of errors in salary calculations, tax withholdings, and other payroll-related processes.
  • Flexibility and Scalability: Outsourced payroll services can easily adapt to changes in your workforce size, seasonal variations, and business growth without the need for additional in-house resources.
  • Comprehensive Reporting: Detailed payroll reports and employee cost analysis help in financial planning and budgeting, providing valuable insights into labor costs.

What Is the Process for Setting Up Payroll?

  • Needs Assessment: Evaluate your company’s payroll requirements, including the number of employees, pay frequency, types of compensation, and compliance needs.
  • Selecting a Payroll Service Provider: Choose a reliable payroll service provider that offers the services and support your business needs, ensuring they have expertise in local tax and labor laws.
  • Gathering Employee Information: Collect necessary employee information, such as personal details, salary rates, tax statuses, benefits information, and bank account details for direct deposits.
  • Configuring Payroll System: Set up the payroll system with all relevant employee information, pay schedules, and compliance parameters. Ensure the system is configured to handle tax withholdings, deductions, and benefits accurately.
  • Establishing Payroll Procedures: Define and document payroll procedures, including timelines for submitting hours worked, approving payroll, and handling payroll queries or discrepancies.
  • Calculating Payroll: Calculate gross wages, deduct taxes and other withholdings, and determine net pay for each employee. Ensure calculations are accurate and comply with local regulations.
  • Capital Markets: Advising on securities law, initial public offerings (IPOs), and compliance with capital market regulations.
  • Distributing Pay Slips: Prepare and distribute electronic pay slips to employees, providing them with detailed information about their earnings, deductions, and net pay.
  • Filing and Reporting: Prepare and submit required payroll reports and declarations to relevant government agencies, such as social security contributions and income tax withholdings.
  • Handling Terminations and New Hires: Manage payroll-related tasks for new hires and terminations, including preparing severance payments, notice payments, and updating employee records.
  • Ongoing Support and Review: Provide continuous support to address any payroll-related issues and regularly review payroll processes to ensure compliance and efficiency.

By offering comprehensive payroll services, we help businesses manage their payroll processes efficiently and in compliance with Turkish tax and labor laws, ensuring accurate and timely payments while reducing administrative burdens.