Payroll Management & Outsourcing Services
Payroll Management & Outsourcing Services
The enticing business-friendly atmosphere and tax exemptions have prompted numerous companies to either relocate or establish branches in the Middle East, particularly in Dubai. With a significant presence of major global corporations in the UAE, PnPC Group is strategically positioned to cater to their payroll processing needs.
Navigating the payroll process within a tax-free economy is far more complex than it may seem. The array of expatriate nationalities coupled with ever-evolving local regulations intricately weave the payroll landscape.
Moreover, a meticulously documented payroll procedure has become a necessity for all businesses operating in the UAE following the enforcement of the Wage Protection System (WPS) as directed by the UAE's Ministry of Labour. This significant shift has prompted numerous companies, whether based onshore or offshore, to seek specialized assistance from outsourced payroll service providers.
Our UAE payroll services encompass the following:
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Initial setup of payroll components.
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Configuration of holiday records, Leave & Attendance management for each employee
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Inclusion of pay and deduction components in the company payroll system to meet business needs.
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Refining the payroll system for seamless processing.
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Prepare standard reports e.g. gross to net, variance, gratuity accruals, and pay slips
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Provide systematic monitoring of employees’ loans, reimbursements, and advanced payments
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Crafting and offering expert advice on labor/employment contracts.
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Alignment of compulsory elements as per UAE legislation.
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Handling transfer orders to banking institutions.
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Ensuring pay slip accuracy and validity.
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Executing payroll, accounting for salary entitlements, benefits, and deductions.
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Scrutinizing bank transfer letters, salary cheques, and payment vouchers.
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Computing statutory gratuity payments.
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Compiling certificates and payroll records.
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Processing terminations based on client instructions.
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Be fully compliant with labour regulations including the Wage Protection System (WPS) in the United Arab Emirates
WPS – (Wages Protection System)
Key Points about the Wages Protection System (WPS):
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Development and Purpose:
The UAE Central Bank and Ministry of Labour collaborated to create the Wages Protection System (WPS), ensuring punctual and complete wage disbursements via a central database.
Enforcement and Consequences:
Companies that neglect compliance with the WPS protocol will face penalties and fines, potentially affecting their ability to secure work permits.
Bank Selection:
To participate, companies must choose one or more banks or Central Bank-licensed agents. Once salaries are deposited, the authorized bank informs the WPS.
Data Transmission:
The WPS transmits worker details, wages, and transfer instructions electronically to the Central Bank. This data is cross-referenced with Ministry of Labour records for accuracy.
Central Role:
The Central Bank validates the information before forwarding it to the Ministry of Labour's database, ensuring alignment between received and registered data.
Agent Facilitation:
Approved data is then sent to designated agents, initiating the wage disbursement process.
Comprehensive Coverage:
The WPS encompasses all registered employees across diverse sectors and industries, benefiting a wide spectrum of labor categories.
Whether you're seeking to optimize payroll processes, ensure regulatory compliance, or streamline your financial operations, our experts are here to guide you through every step of the way.
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Give us a call today to initiate this crucial conversation and embark on a journey toward seamless and efficient payroll management.