Payroll compliance is a very important consideration that has to be taken by the payroll and HR departments. There is a need to ensure the payroll team is protected, and the company as a whole, against administrative fines and penalties that stem from noncompliance with relevant payroll legislation.
In addition, you want your employees happy and satisfied by distributing their wages on time while seeing that they have received the right amount in the process. In order to help you maintain payroll compliance for your business in Dubai, we’ve compiled tips from payroll outsourcing companies in UAE to direct you to the right track.
Manage the expectations of employees
It is absolutely vital that you ensure every single one of your staff understands what is needed from him/her, most especially in terms of helping your business remain compliant. A great example is ensuring employees stick to the expenses policy of the company. Another is keeping all payroll-related records accurate, especially on overtime.
In order to help your staff, you can subscribe to payroll services in Dubai that are provided by payroll outsourcing companies in UAE. Outsourced payroll and HR specialists can help your business put the necessary procedures in place. These procedures are for employees to know how to document their expenses and all their hours worked so they are not leaving you exposed.
Outsourced payroll in UAE can involve putting together a set of practices and policies for issues that affect the salaries of employees. As a result, the staff has a useful guide to follow and inquire from for queries surrounding deductions or additions to their earnings.
Keep accurate payroll records
This may seem obvious to you, but it is something that can’t be stressed enough. Remember that it is the responsibility of your business to maintain the records related to payroll accurately. Employees’ personal records, in particular, are to be maintained for at least five to six years. Employees’ personal information can also change regularly. There are changes to their info that can affect the payroll processing.
Regardless of whether the change has been a salary increase or promotion following a pay review, or reducing the time off for a paternity/maternity leave, it has to be processed correctly. While it can seem like you’re already juggling too many things, maintaining accurate payroll records should be on top of your priority list. Fortunately, there is a way for the responsibility to be taken from you. That is through payroll services in Dubai.
Request for an audit
Did you know that there is a concrete way for you to actually protect your business if there is an investigation? An audit is an answer. Try to consult with your shortlisted payroll outsourcing companies in UAE for an audit. Payroll professionals can help you link transactions that are made with the available supporting information e.g. invoices and purchase orders to validate payments that can look unusual.
- The other things which an audit can do are as follows:
- Provide insights on the performance and overall health of your business
- Ensure the corporate accounts contain accurate information
- Guard your business against fraud
Stay updated with the applicable legislation
One thing your business has to do is to stay up-to-date with the applicable payroll legislation. Government policies, both local and international, change regularly. How exactly can a business keep up with regulations? One way is retaining an in-house payroll team that comprises payroll specialists for processing the company payroll and ensuring payroll compliance. Another is through payroll services in Dubai/UAE which is the more cost-effective solution.
Payroll outsourcing companies in UAE typically offer webinars and seminars related to payroll to provide clients expert advice. You and your HR department can learn about the latest changes in the regulations, innovations around payroll, industry trends, and new payroll processes among others. All these have a significant impact on the processing of payroll.
Select the correct payroll processing option
The most important thing to do is find out the right option for you for payroll processing. There are myriads of choices for businesses. The right decision is different, depending on your needs, preferences, and how small or massive your business is.
If you’re running a company with more than fifty employees, it’s likely that your payroll-related tasks are getting out of hand. That being said, small businesses with five to twenty employees don’t really require the help that big companies need. So, make sure that you pick the correct option which is suitable for your business.
At Payroll Middle East, our payroll outsourcing solutions help businesses overcome all HR and payroll-related requirements in UAE. With the constantly changing regulations and business environment, we’re here to aid you on your business journey. To know more about payroll outsourcing in UAE, call us today!