In a business, one of the factors of production is labour whilst the other factors are land and capital. For a business to thrive, the entrepreneur has to invest in the labour force which entails hiring employees and remunerating them salaries. In Kenya, a business is required by Law to deduct and remit employment tax and other statutory on employee’s salaries. This includes Pay As You Earn (PAYE) tax, Social Insurance (NHIF transitioning to SHIF), Social Protection (NSSF), training levy (NITA) , and Housing Levy. Amidst the statutory requirement for a business to remit these taxes, levies and social welfare benefits, it is often a challenge for small businesses that do not have the expertise in terms of human resource managers or qualified accountants to guide them on the computation and remittances. It is against this backdrop that as a business owner, it is eminent to consider payroll processing outsourcing services to a firm that offers such services as Anziano Consultants.

Table of Contents

1. About Payroll Processing
2. Our Payroll Processing Services
3. Why Outsource Payroll Processing

Payroll Processing

As per the Law, Income Tax Act, there are provisions that provide and make it mandatory for an employer to deduct and remit tax to the government. Where the gross pay is above the minimum threshold, Paye As You Earn (PAYE) tax should be deducted.

On the other hand, NSSF, NHIF, NITA and Housing Levy should also be deducted and employees paid net pay by the employer.

The process entails some computations factoring the tax rates which often change after every financial year. This makes it a challenge to start-ups, SME and Foreign companies who may not have the experience, exposure or personnel to keep up with the trends hence payroll processing outsourcing being the optimal route to take.

Our Payroll Processing Outsourcing Services

 At Anziano Consultants we offer professional services where our seasoned team of tax and payroll experts will handle your payroll processing burden.

We have a payroll system that will help in the processing of your organization’s payroll. Basically we will keep track of your employee’s pay, compute the taxes and benefits and deductions then issue to your organization a schedule to do the actual payment. We also can have an MOU where we hold the funds in trust and remit on your organization’s behalf for payments such as Statutory and taxes that have deadlines to be paid to avoid penalties.

Payroll Outsourcing Package:

1. Payroll Computations
2. Statutory deductions: PAYE, NHIF, NSSF, NITA, Housing Levy
3. Statuaries filing and generating Payment Slips
4. Statutory Payment is where the client entrusts the fund with our firm.
5. Processing of Employee’s Pay slips
6. Processing of Monthly Payroll Report.
7. Advisory and value ads to ensure Compliance on employee welfare including; Pension, Medical Insurance, Work Injury Benefit Act (WIBA)
8. Issuance of P9 form for employee to file their Income tax at the end of the year.
9. Tax planning.

Why Outsource your Payroll Processing Service to Anziano

As highlighted earlier payroll processing is a complex process that require an expert to compute and as well be compliant with the applicable laws. Failure or late filing and remittance of payroll tax and dedications attract higher penalties which may be detrimental to a company’s compliance and as well add a financial burden that was not budgeted for.

By outsourcing your payroll function you enjoy:

• We help you increase the NSSF benefits of your employees by facilitating contracting out NSSF Tier 11 contributions to private pension schemes that offer more competitive rates.
• We help you improve your employees’ welfare by providing them with medical insurance and work injury benefits (WIBA) facilitated through our subsidiary, Anziano Insurance Agency.
• We provide Payroll audit support and iTax PAYE reconciliations.
• Dedicated Support. Our team is available to provide ongoing support and address any payroll-related concerns.
• Benefit from our automated advanced payroll software that guarantees accuracy and efficiency.
• Compliance Assurance. We stay updated with the latest tax laws and regulations to ensure your business remains compliant.

Wrap up

With our payroll processing outsourcing services, you are assured compliance, your employees get value and as an employer, you get value for your money as we offer complimentary employee training. We provide recommendations and facilitate pension transfers to fund managers where you get the best return on your fund. Our team has experts and abides to the highest degree on the code of ethics and conduct ensuring confidentiality and professionalism.

Get in touch with our team to request a quotation on getting Payroll Outsourcing Services. You may also be interested in a more enhanced outsourcing service; Bookkeeping where we also offer accountancy services and help with the preparation of the books of accounts and filing of Income tax reruns.