for South Korea
Our blend of software and services ensures clients receive a flexible response to their needs, both domestically and internationally.
fiber_manual_record We automate and manage your complete payroll cycle. Payroll Module being a part of our unified system is built integrated with other modules. All HR transactions go straight to payroll so you can stop reconciling data or waiting for integrations to run.
fiber_manual_record No matter how complex your payroll cycle is, we can activiate existing or customize modules in our platform to automate and auto-consolidate all payroll respective data for payroll processing.
fiber_manual_record If there are any unavoidable manual bits left, our payroll accountants can also manage on your behalf.
fiber_manual_record We are equally comfortable to provide payroll services if you already have HR System running. our IT team can quickly integrate with your systems so you keep benefiting from your existing investments and procedures.
Having mature and clearly defined processes means that we can be consistent, thorough, efficient and keep your costs down.
Keeping inview weekends & public holidays we draw an annual payroll calender with client & publish it online ...
If configured, payroll associated data in other modules is locked for payroll processing e.g. benefits, expense claims, loans, attendance etc ...
If country tax regime allows tax reducers that can offset with payroll tax, employees will submit online form by specified date ...
Updates either coming through interface with client's HR system, Promenics system or sent manually by client are locked ...
Payroll processed & after detailed review shared with client for comments ...
If there are any late adjustment, errors or omission indentified in first run, 2nd run is initiated for rectifications ...
Upon receiving client approval on payroll results, filling with Income Tax & other departments is executed ...
Depending upon arrangement, Promenics manages complete banking payment or provide bank upload file to client for payments to employees & tax authorities ...
As soon as salary is credited, payslips or periodic certificates are issued online & employees receive alerts ...
Promenics prepares journals as per client specification and provide upload file to client ...
Respective period payroll documents e.g. tax fillings, payment receipts, approved reports are uploaded online for future reference ...
Promenics fully manage if client has any reporting requirements inaddition to our online system's Dashboards & standard reports ...
Associated with South Korea Payroll Services we provide all services related to NTS and Social Security compliance, including:
1. Manage all your Income Tax and Social Insurance Calculations
2. Provide Class A Certificates, Form 25, Employment Certificates, Experience Certificates
3. Provide Final Settlement Calculations along with Form 24
4. Manage on boarding and off boarding of Joiners and Leavers respectively with Social Insurance
5. Report Annual Income change for employees with variation of 20% or more in earnings
6. Report employees on longer unpaid and maternity leavesReinstate employees upon their return to work from leaves
7. Manage dependent enrollements with Social Insurances
8. Report employees temporary departure from South Korea and reinstatement of the same
9. Prepare and submit Monthly WHT and BPT Returns
10. Prepare and submit Part Timers Returns
11. Manage Year End Settlement Calculations and Submissions
12. Report Annual Income to NHIS
13. Prepare and submit Employment and Industrial Insurance Return (Annual)
14. Help submit Annual BPT returns
15. Help reviewing and advise on action of NTS, NPS and NHIS notices
In addition to above there are numerous Tax Credits and Deductions allowed in South Korea Income Tax laws that employees can set-off through Year End Settlement forms. Within employees self-service portal, employees can declare amounts to set-off under respective category and upload the evidence. While processing payroll Promenics team will review these declarations and if amount qualifies will adjust employees tax deductions.
Our system powerful Payroll Admin access provides you all your payroll related information just a click away.
Payroll Dashboard provides you all information required for instant analysis & decision making:
fiber_manual_record Visual presentation of data for quick overview
fiber_manual_record Comparative datasets for trend analysis with drill-down of each balance.
A centrailzed place for all payroll related documents in your easy access, including:
fiber_manual_record Approved Payroll Reports
fiber_manual_record Out of system calculations, working papers, spreadsheets etc
fiber_manual_record Submitted returns and Statutory Fillings
fiber_manual_record Proof of payment of taxes and other statutory dues
fiber_manual_record Payslips, certificates and tax declaration of all employees
Leverage our services and expertise to extend your own. Our administrative services leverage best-practice processes and innovative technology solutions that enable employees, managers and HR professionals to acquire, develop, reward and manage their workforce effectively.
fiber_manual_record Update Personal Information
fiber_manual_record Download Payslips
fiber_manual_record Payslip Details
fiber_manual_record Salary Certificates
fiber_manual_record Tax credit declarations