Employers guide to payroll-Legal aspects
The job of Employer in payroll processing doesn't end just by handing over the paychecks. The REAL job involves Year-Round preparation of federal, state, and local tax returns, deposits, and extensive record keeping.
Apart from having expert knowledge in designing pay package for the benefit of both employer and employee, employer has many other legal obligations with regard to the employees, which forms part of payroll processing. You need to have the knowledge of
You have number of obligations under each legislationís mentioned above which requires lot of time and records apart from expert knowledge.
Using an outsourced payroll solution is typically more efficient for a business than processing payroll internally. Leaving payroll to experts frees up hours that you can devote to other important parts of your business. Whether it is your time, staff time, or a combination, chances are the hours could be better spent wining more business, improving customer service, fine-tuning business operations or launching a new product line