Payroll Outsourcing Services & HR Administration
Payroll Outsourcing Services & HR Administration
Payroll refers to the list of employees that receive compensation from their employer for their services rendered. In Hong Kong, payroll is typically processed on a monthly basis and takes into consideration various factors of an employee’s employment to determine the total compensation they are entitled to receive – with the process often taking more than a week to process.
Unfortunately, matters relating to payroll and HR administration are time-consuming tasks that require a significant amount of the company’s resources. Instead of performing these tasks in-house, outsourcing it to a professional HR service provider who can provide payroll services is a common alternative for start-ups and SMEs.
FastLane HR can manage your essential payroll-related activities on your behalf, thus letting your staff focus on revenue-driving activities. We also provide top-of-the-line payroll advisory services to companies. Regardless of the extent of your outsourcing needs, FastLane HR will provide you with top-quality, fully managed payroll and HR administration services in a professional manner.
We offer the following comprehensive range of HR services:
Payroll Services
- Payroll calculation
- Salary arrangement
- Employees’ expenses reimbursement
- MPF contribution calculation for employer and employees
- Payslips creation and distribution
- Monthly payroll report
Human Resources Administration and Support
- Employee Compensation Insurance (ECI) enrolment
- Mandatory Provident Fund (MPF) enrolments
- Employees’ medical insurance schemes enrolments
- Maintenance of employees’ personal records
- Leave records management
- Employees’ onboarding and offboarding
- Employment regulatory advisory
Hong Kong Salaries Tax Advisory
- Prepare and submit Employer’s Tax Returns
- Prepare and submit Employee’s Individual Tax Returns
Time-Saving
Payroll accounting is a long and arduous process. Firms that do not have a dedicated payroll system will find this process complicated when considering factors such as benefit deductions, garnishments and leave management. By taking advantage of our payroll outsourcing services, it frees up the internal resources of a business, allowing them to work on more strategic tasks that could ultimately affect their bottom line.
Repetitive tasks will no longer require hours being taken away from a company’s key management. Instead, employers only need to contact their payroll services provider one time each pay period!
Cost Reduction
Unlike start-ups and SMEs, big businesses can afford to maintain robust payroll departments. As such, the direct costs associated with managing a payroll system can be greatly reduced by outsourcing it to a professional firm that will manage all payroll services. If your business has fewer than 30 employees, there’s a strong chance that you can save money by engaging our Hong Kong payroll team!
To understand the scale of how FastLane HR’s payroll services can help your business minimise expenses, we recommend examining your payroll software to determine how many labour hours your business is devoting to payroll-related activities and compare it to the plans offered by FastLane HR and other payroll service providers.
Innovation
Our team at FastLane HR are experts when it comes to the use of cloud-based HR systems to enhance a company’s operational efficiency. With the ability to utilise our intuitive HR systems from anywhere in the world, our clients are able to seamlessly manage their numerous cloud-based HR solutions, such as E-payslip generation and distribution, expense systems, and talent management.
Expertise
To the extent that a company’s HR team is not familiar with local employer regulations, they run the risk of non-compliance. Unfortunately, most business owners and HR staff don’t have the time to research and study Hong Kong’s constantly evolving business regulations. By engaging FastLane HR’s payroll services, a small business can take advantage of the resources and expertise that was previously available only to big companies.
Outsourcing payroll services to a professional team well-versed in these matters can alleviate concerns and provide greater peace of mind. Confidentiality may also play a role when it is preferred that payroll details are not disclosed to internal staff members associated with HR.
