Payroll
Payroll services in Durban
Payroll is one of the most vital functions of any business. Regardless of the size of your workforce, payroll is a regular financial task that must be managed carefully – preferably by a trained accountant.
CBO Accounting and Tax offers payroll services in Durban. We process your weekly, bi-weekly or monthly payroll accurately and deliver them on time to ensure your staff are paid when required.
Professional South African payroll services
You might a multinational corporation seeking accounting professionals to manage the payroll functions of your South African branch, or a local concern needing to outsource your payroll administration to a third party in order to mitigate the cost and risk of internal payroll. In other case, among many others, CBO Accounting and Tax can provide the solution you need.
Accurate payroll management is often a complex task and it is so important that it is managed correctly and in a way that is compliant with SARS and the Department of Labour. In South Africa, payroll is governed by three laws:
- Income Tax Act: In terms of this act, tax is to be levied on everyone who is engaged in gainful employment or any business activities that generate income. There are two main ways of paying tax on monthly income. Pay-As-You-Earn (PAYE) ensures that the tax liability is collected at the same time the income is earned. It is generally the employer’s responsibility to withhold the tax from the employee and pay it over to SARS. Provisional tax allows taxpayers who earn additional income over and above their salaries to pay the tax on this income halfway through the year.
- Unemployment Insurance Fund Act (UIF): This act is aimed at reducing the social and economic strain caused by unemployment. According to the act, employers and employees must register for UIF and make monthly contributions to the fund.
- Skills Development Levies Act: When an employer’s cumulative salary obligations are expected to exceed R500,000 per year, that employer is required to register as a skills development levy payer. This levy is then paid to the National Skills Fund and used to develop skills among the country’s workforce.
CBO Accounting and Tax offers payroll services in Durban. We process your weekly, bi-weekly or monthly payroll accurately and deliver them on time to ensure your staff are paid when required.
Our services cover the full scope of payroll functions, including:
- Registration
- Issuing electronic payslips
- Annual leave calculations
- PAYE calculations
- UIF and SDL calculations
- Workman’s compensation
- Reconciliations
Flexible payroll and tax services
Our payroll services are flexible. We are able to process manual payrolls if you would like to prepare your own pay slips and reports or we make use of SAGE/VIP if you would like an automated payroll.
When we handle your payroll functions, we will also process and submit your monthly, bi-annual and annual PAYE, SITE and UIF obligations on your behalf.
Contact CBO Accounting and tax for payroll services and all related accounting services in Durban.
We Provide the Best Quality Service
Get hold of us today, and let us assist you to regain control of your business.