Payroll Outsourcing
Dominox Consultancy International is one of the most leading firms in payroll outsourcing sector in Bangladesh. With bounteous experience in the sector, we have the courage to state that our clients are 100 percent satisfied with the services that we provide. Payroll outsourcing is one of the most indispensable services that we offer to our clients. Dominox Consultancy International, from the experience of its service, has delineated few points which are crucial for the clients when it comes to take a decision pertaining to engaging a third party payroll service. The key facts are illustrated below.
What is Payroll Outsourcing Service?
Payroll outsourcing is a process of engaging a third party, for example Dominox Consultancy International, by a company, let’s say like yours, to pay the wages and the salaries of its employees either in the same country or in a different country, for instance in Bangladesh.
Who would require a payroll outsourcing service, especially in Bangladesh?
There is no hard and fast rule to say who would need a payroll outsourcing service and who would not. However, we could say that any company who wishes to cut down its monthly operational expenses be it a small startup, a mid-size company or a large Multi-National Enterprises (MNEs) could hire a payroll outsourcing service provider like Dominox Consultancy International.
Take advantage of or benefits of hiring or why would you hire Dominox Consultancy International as a payroll outsourcing service provider:
Dominox Consultancy International with its marvelous expertise in the payroll sector could provide its service to the complete satisfaction of your requirement. In simplest term, Dominox Consultancy International would replace your in-house payroll service and would provide you with better service at the fraction of your cost. Moreover, the payroll service is hard enough, tedious and time consuming because it has to deal with each and every single of your employee manually which requires a lot of paper work. Therefore, the attention and time you engage in payroll service, could be utilized in far better and productive ideas for instance, in business development just by hiring the assistance of Dominox Consultancy International. All of your employees would receive their monthly payments in time without you being worried.
Keeping and maintaining a separate wing just for conducting a payroll service in a bustling area, for instance in Dhaka, with a very limited workplace could be very expensive. With the service of Dominox Consultancy International, you could reduce your payroll personnel, your office space and related heavy software and accounting. On top of that, you could dwindle the professional developments of the payroll personnel and their increments every year. In gist, you could save up your time and hard earn monies, which are the most important things in the prevailing economy.
Dominox Consultancy International provides a meticulous calculation of withholding tax or the Advance Income Tax obligations, payment of the withholding Tax to the government, issuing pay checks at the required intervals and other related facilities along with its payroll outsourcing services. In a situation where you make a mistake inadvertently in the payroll inputs, Dominox Consultancy International would rectify the slip up in two working days by running the payroll service twice.
Dominox Consultancy International is always thriving for the best client support. If you are looking for a payroll outsourcing service provider whom you can rely on and trust, you should opt Dominox Consultancy International with your eyes shut. Contact our payroll outsourcing team.
Third-Party Payroll
In Bangladesh, Dominox Consultancy International offers the services required by a third party payroll. As a highly reputed third party payroll provider in Bangladesh, we make sure you receive the essential services you need from an employee without having to assume the risks and duties that come with hiring an employee.
In order to reduce risks and to get the best outcomes possible, Dominox Consultancy International will work in collaboration with you. The sphere of work covers the whole staff transfer process, including orientation, acclimatization, and integration, as well as the Human Resource administration, training, and payroll solution, with an emphasis on continuous improvement. Dominox Consultancy International third party payroll service would enable you to hire a resource without having to deal with the stress and needs of adding the resource to your payroll and the regulatory obligations associated with it. Since you will be in charge of determining how to reward employees, the advantage is that the employee receives the same as those received by employees working for you directly under the third party payroll. The enhanced possibilities from their end for the many employment marketplaces in which we are active would also motivate the employee to pursue career growth.
How Dominox Consultancy International provides third party payroll services:
The process Dominox Consultancy International undertake to offer third party payroll services in Bangladesh are listed below:
Step 1: Employee Transfer Agreement:
You would enter into an agreement with the Dominox Consultancy International to use our outstanding payroll services. The agreement would enable the Dominox Consultancy International to handle the withholding taxes, disbursements, reporting requirements and others of your employees, whilst they continue to engage in delivering the services to you.
Step 2: Rebadging and Communication:
The phrase re badging means the process of employees from one organisation to another organisation which would be supporting those employees from that point forward. in literal terms, it means to change the badge of an employee when he is transferred to a new company or business.
The following processes are included in this phase:
Resource Evaluations (Due Diligence): Dominox Consultancy International, in collaboration with its client will evaluate the criticality of the existing resources to provide utmost support to the client.
First Notification to the Employees: Dominox Consultancy International would notify all the affected employees of the change in their employment either through emails, conference calls or a group meeting whichever is convenient for all the parties.
Second Notification to the Employees: Dominox Consultancy International would email all the employees who are transitioning, as soon as the first notification has been sent out. The primary purpose of the second correspondence with the transferring employees is to form a line of communication, to settle points of contact and to illustrate and inform them the following procedures all need to undertake.
Conference or Group Meeting: Dominox Consultancy International would either arrange a group meeting or a conference call with the impacted workers within three working days after the second notification has been sent out. Employee representatives would be given the opportunity to participate in this meeting or call on their discretion. The objectives of this call or meeting would be to reiterate the points made in the previous two notifications and to outline the timetable and objectives for the remaining phases of the transition.
Individual Meetings/Calls: Within 24 hours after the conclusion of the group call, impacted workers will be scheduled for individual meetings and/or calls. One on one meetings will be held whenever feasible. A specialized team of Human Resource and Recruiting experts from Dominox Consultancy International would be on hand to conduct these conversations and meetings.
The duration of these individual meetings and calls would be an hour within which the specialized Dominox Consultancy International’s team would focus on:
- To respond to each person’s specific inquiries or concerns;
- To inquire about each person’s desire in keeping their present job;
- To discover individual objectives, skills, and interests;
- To provide the orientation package;
- To set a time when the employee may anticipate the next call or meeting.