COUNTRY
Malaysia
WE’RE HERE TO HELP – CONTACT US NOW!
PAYROLL SERVICES IN MALAYSIA
Relin Consultants’ payroll team can provide you with high-quality payroll services in Malaysia.
Please reach out to us if you are currently in the process of finding the right firm to outsource your Malaysia company’s payroll or if you would like to understand further about payroll obligations before hiring a local employee.
Benefits Of Outsourcing Your Payroll To Relin Consultants
Cost savings
Rather than spending on hiring one or a few full-time employees to manage the HR function, including payroll processing. You can instead engage our firm to manage all the payroll-related matters. Our team has extensive experience and the capability to process up to a headcount of 300 employees for each company. We provide payroll software for all our clients hence eliminating the need for our clients to purchase their software.
Contingency
Payroll is one of the most essential processes in any organization, yet a small group of people carries it out; if an unforeseen incident affects the small group of people, the payroll processes may be disrupted. Such contingencies would be eliminated if your payroll operation was outsourced.
Relin Consultants’ payroll team works in two separate locations, and our client’s data are stored in the cloud. Hence if there is any disaster, our team can still process your payroll on time.
Personal data protection
Payroll information, including all our client’s employee information, will be managed strictly, and our team will only release the information to the approved personnel. Hence our client can rest assured the employee data is protected.
Expertise
Our team of specialists will keep you up to speed on the most recent legislative developments and assure full compliance, reducing the risks and fines associated with noncompliance relating to payroll.
Time savings
Outsourcing payroll might result in significant time savings, as our team of payroll specialists can assist you from contract drafting to payroll processing, including monthly salary credit.
What Are The Payroll Services Offered By Relin Consultants?
Our payroll team can support you on a monthly and yearly basis. Some of our services are listed below.
| Monthly Services | Yearly Services | Other Services |
|---|---|---|
| Summary of payroll | Preparation and reconciliation of the annual payroll register | Employer registration with relevant authorities such as IRB, EPF, SOCSO, etc. |
| Reports on allowance and deductions | Preparation of Form E and Form EA | Handling new hires or terminations |
| Reports on salary reconciliation | Preparation of statutory forms such as EPF, SOCSO, Income Tax, HRDF, etc. | Application for individual income tax file number |
| Preparation of statutory forms such as EPF, SOCSO, Income Tax, HRDF, etc. | Reports on allowance and deductions | |
| PaySlip for staff salary |
What Is The Process Of Outsourcing My Company Payroll To Relin Consultants?
When you use Relin Consultants’ payroll service, you will be allocated a payroll specialist who will work with you individually on your payroll needs.
The payroll specialist will analyze and arrange the information you supply to us to construct and manage your payroll ledger and payroll calendar.
The payroll officer can make payments and file any required payroll declarations with the relevant authorities, depending on your business needs.
FAQs
Are bookkeeping and payroll the same in Malaysia?
Payroll and bookkeeping are part of the same financial circle, but they serve distinct purposes for firms at various points of the financial cycle. Bookkeeping is concerned with the entire transactions of a company, whereas payroll is mainly related to employee remuneration and benefits.
Can I do payrolls by myself?
Yes, a company may opt to process its payroll in-house. However, if the company does not have an experienced HR staff, it is strongly advised that you seek a professional and reputable payroll service provider such as Relin Consultants to assist with your payroll operations, to ensure the company is compliant with local regulations.
How do I process payrolls in Malaysia?
- Payday: Payments must be made by the 7th of each month.
- Method of Payment: Cash, cheque, or credit to a bank account.
- Salary calculation: Incorporating overtime, sick pay, and so on.
- Distribution of payslips: Manual or automated/computerized distribution.
How much does a payroll provider cost in Malaysia?
Payroll service generally varies depending on the number of employees involved in a pay cycle. You may refer to our table below for a fee estimate.
Services |
Fee (RM) |
|---|---|
Application for Employees Provident Fund (EPF) |
Starts from RM300 |
Application for “Pemotongan Cukai Bulanan” (PCB) |
Starts from RM300 |
Application for The Social Security Organization (SOCSO) |
Starts from RM300 |
Application for Employment Insurance System (EIS) |
Starts from RM300 |
Payroll setup fee |
Starts from RM300 |
Bank setup fee |
Starts from RM700 |
Monthly payroll processing services |
Starts from RM100 per staff |
Monthly salary payment assistance |
Starts from RM100 per staff |
Monthly EPF, SOCSO, and PCB submission assistance |
Out-of-pocket fees |
Form E preparation |
Starts from RM300 |
Form EA preparation |
Starts from RM200 per staff |
CP21 preparation |
Starts from RM200 per staff |
Application for Human Resources Development Fund (HRDF) |
Starts from RM400 |
Do accountants handle payroll in Malaysia?
It is common for small and medium businesses to combine accounting and payroll functions. A company will hire an accountant who is experienced in payroll matters to perform payroll-related tasks. Depending on your circumstances, it might be beneficial to appoint a qualified payroll team and segregate the duties.
Related Posts
For people and companies wishing to safeguard and manage their assets in a secure and structured way, setting up a trust in Malaysia offers a variety of alternatives. Malaysia offers the perfect environment for creating trusts that fulfill a variety of objectives, such as protecting wealth, organizing estates, supporting charitable organizations, and guaranteeing seamless corporate [...]
An investment holding company (IHC) is a business whose primary activities involve the holding of investments, and from which not less than 80% of its gross income, other than income from sources derived from conducting a business or holding investments (whether exempt or not), is derived. Refer to the investment holding company in Malaysia for [...]
The Malaysia Business Act mandates that every company have at least one director whose primary residence is in Malaysia. Foreigners may want to appoint a local nominee director to act on their behalf in regard to all compliance issues. A Malaysia yearly return must be submitted to The Companies Commission of Malaysia (SSM), and Malaysia [...]