Vietnam's pharmaceutical industry is entering a historic growth phase, aiming for a market size of USD 20 billion by 2026, yet it has attracted only a modest USD 1.8 billion in foreign direct investment (FDI) so far. This significant gap highlights a massive, untapped potential for pharmaceutical manufacturing. Global pharmaceutical giants like AstraZeneca, Sanofi, Roche, […]
Managing a company’s payroll internally can be quite daunting, especially in an emerging market like Indonesia where laws and regulations are often changing. Even the slightest mistakes in accounting can eventually cost a lot of money. This is where payroll outsourcing services from consulting firms such as Viettonkin come in handy.
Why You Need Payroll Outsourcing Services in Indonesia
Despite payroll being a non-core activity, this time consuming task is still very crucial to your company’s sustainability. For foreign business owners, administering payrolls can become more challenging because of Indonesia’s different and complex payroll rules, diverse language requirements, and distinctive in-country support.
Some investors may believe that handling payroll in-house is more cost-effective. However, in many cases and over time, getting payroll outsourcing services is actually more convenient and cost-effective. In order to maintain in-house payroll administration, businesses need to invest a lot of resources and time to not only hire and train payroll employees but also acquire an effective and secure payroll software.
By hiring a reliable agency that specializes in these kinds of services, you have a much higher chance of maintaining good results at a lower cost, not having to deal with legal problems personally, and keeping the salaries confidential to employees in your company. Furthermore, the time you save by outsourcing payroll services can be better spent on developing strategies, increasing sales, and expanding the business.
How Can Viettonkin Assist You in Payroll Administration
Viettonkin's payroll outsourcing services are flexible and comprehensive, allowing you to ensure that salaries, Jamsostek (the private sector's social insurance fund), and relevant taxes are calculated in accordance with applicable legislation and paid and remitted on time.
Our payroll services are as follows:
- Take-home pay calculation and transfer based on data provided;
- Monthly employee income tax preparation, payment, and submission, as well as monthly BP Jamsostek;
- Salary slips preparation and distribution;
- Social security contribution
- Preparation of withholding tax summaries and certificates of withholding tax;
- Annual income tax preparation, payment, and submission for employees, including the preparation of tax forms for each employee (1721-A1);
- Administering employee leave, loans, pensions, and other benefits.
Contact Viettonkin for Fast and Reliable Payroll Services in Indonesia Today
It is not easy to achieve consistent in-house payroll administration results in Indonesia. Therefore, when it comes to smooth payroll processing, having a trusted partner can be critically important.
At Viettonkin, we have a dedicated team of experts who can provide the best payroll system for your business. Rest assured that your accounting records for payroll and employee taxes are always up to date and in compliance with applicable local regulations.
Manage your business easily with the help of fast and reliable payroll services from Viettonkin. Contact us today.
