When you own a company in Dubai, it is easy to realise that managing financial responsibilities such as accounting, auditing, and payroll is time-consuming.
This is besides the fact that you are prone to errors. As a business owner, you would want to enjoy focusing your attention on the core activities of your business and realise considerable cost savings. And, of course, you would also like the reduced threat to your company's security.
These are why payroll outsourcing services in Dubai are tailored to meet your needs, no matter the size of your company, the large number of your employees, and how complex the payroll is. Many companies in Dubai are outsourcing their services because of efficiency in data management, confidentiality in employee salaries, reduced labour costs and risks of computation mistakes. They hire payroll experts instead of employing an internal finance team. These experts can easily manage payroll documentation, processing pay slips, and expense claim disbursements.
What is Payroll Outsourcing?
Payroll outsourcing involves contracting a third-party service provider to handle your business's payroll management needs and the administrative and compliance tasks concerning employees' salaries. Outsourcing this function to experts will greatly simplify the payroll process and allow you to concentrate on the revenue-generating activities of your business.
Compared to in-house payroll management, payroll outsourcing delivers increased accuracy; because payroll is prepared, evaluated, and analysed by qualified professionals.
Benefits of Outsourcing Payroll Services in Dubai
You can avail of several benefits through outsourcing your payroll services, as listed below.
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Cost reduction
Opting to outsource your payroll services is a cost-effective solution compared to hiring an in-house payroll team where you tend to spend more because of maintenance charges, labour costs and adapting new technologies.
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Timely and accurate results
Outsourcing your payroll to an expert team brings you results that are not only accurate but timely, too. It also ensures employee satisfaction as they get their salaries on time.
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You can focus on core business activities
You can devote more time to activities focused on growing your company as a business owner. This will reduce your burden and stress.
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100% high security and confidentiality
Getting your payroll services outsourced ensures high security. When in-house personnel carry out the payroll management, there can be chances of leakage of confidentiality.
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Compliance with laws and regulations
Getting outsourced payroll services will ensure that your company complies with UAE laws, as should always be the case. You need to get updated on data protection regulations, changes made to the labour laws of the UAE, and the MPS (Wages Protection System)
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Industry expertise
Your company will get the expertise of tax professionals, and they can handle the payroll activities smoothly and professionally.
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Sophisticated technology
Your company's payroll function gets automated through specialised payroll software to benefit your data security and accurate payroll processing.
What is Involved in Payroll Outsourcing Services?
Payroll experts are not only into cutting checks and handling direct deposits.
These are only a fraction of the things that they can do. Also involved in payroll outsourcing services are the following.
- Handling all payroll compliance matters at the federal and state levels.
- Checking and recording employee attendance, as well as their on-the-clock time.
- Ensuring accurate payroll and tax deductions
- by generating and distributing electronic payroll records to relevant parties
- overseeing new and existing direct deposit accounts
- applying any employee 401 k plan. The 401k plan allows the employer (as permitted by the employee) to contribute a portion of the employee's wages to an individual account under the plan.
Why Choose Jaxa for Outsourcing Payroll in Dubai, UAE
If you want to outsource your payroll management services in Dubai, you should not look past Jaxa Auditors. We know how important it is to maintain payroll, so we commit ourselves to providing you with the needed services. We have a team of experienced and qualified professionals to ensure that your payroll needs are taken care of and that the desired results will be delivered to you. Outsourcing your payroll services to us will lessen, if not eradicate, the risk of information leakage, staff identity, and possible misuse of company funds.
Jaxa Auditors are popular among the best accounting consultants in Dubai. We offer payroll outsourcing and a wide range of services, including accounting and auditing services. Our accountants and auditors are responsible for delivering quality-driven services to all of our clients.
Please call us at 971 4 2207355 and speak with our experts if you have questions that need to be answered immediately. You can also drop us a line at jiby@jaxaauditors.com.We will be delighted to discuss how we can help you with your payroll management or any accounting-related functions.