Roots provides fully managed Payroll Outsourcing service for companies in Egypt. This is a part of our human resources management consultancy cutting edge services offerings.
Our Payroll services covers all types and sizes of companies. We provide our clients a smooth payroll service delivery to their employees. Also, our payroll services will help you mitigate the risk of Egypt’s legislation changes.
Payroll Outsourcing definition is “Hiring an external firm to handle all your payroll functions“.
They would do all the payroll treatment in their own premises instead of in-house payroll preparation. They as well ensure payroll compliance with legislations.
Accordingly, companies use it to save time and money. Also, it reduces the need for in-house dedicated trained payroll staff. Additionally, the company will not need to buy and maintain payroll software packages. Let’s not forget, the burden of staying compliant with updated governmental legislation.
In Roots, we have a team of dedicated payroll experts. The team works under the management of a payroll expert consultant. It includes ex-employees of the Egyptian Tax Authority. It also includes ex-employees of the Public Authority for Social Insurance.
Combined, this team would provide your company with more than 97 man-year of expertise.
The team handles; Firstly, keeping a hawk-eye on Egypt’s tax laws and regulations changes. Secondly, acquiring, understanding and digesting any social insurance laws and regulations changes. Thirdly, liaising with Egypt’s governmental agencies for all the paper work, payments…etc.
Egypt imposes income tax on the worldwide income of Egyptian residents. Non-residents are subject to tax on income earned or realized in Egypt. While, imposes Social Insurance on all workers both Egyptians and foreigners.
How Payroll Outsourcing Works?
Our capable team will take care of all your payroll related treatments. Starting from calculating the employees related payments.
The calculation includes income elements such as, basic salary, overtime, bonuses, incentives, profit share, vacations. We can use any payroll scheme you are currently using.
Next, they calculate various deductions such as, social insurance, taxes, governmental stamps and similar deductions. Finally, we provide you a report including the required total amounts.
Based on the report, you would transfer the required amount to Roots’ bank account. Roots will then start bank wire transfers to credit each employee’s account. You will be able to identify the bank of your choice to handle your employees accounts if you have one.
We can use your existing payroll bank account, in the case you have a payroll bank account. In case you don’t have it, we will take care of opening bank accounts for your employees.
This will include finishing all the required formalities with the bank. We would fill all suitable forms and start the process for social insurance and tax submission as well.
Besides, we will carry out the deposit process and get the constitutional settlement documentation.
Payment receipts, reports and invoices for all the services are available through e-mails. Additionally, If you need original hard copies, we will provide it.
Roots keeps all payroll documents, files, reports and invoices in a secure scheme. Mainly, in a digital filing scheme and are obtainable for client examination upon discretion.