Did you know that you can access all your employee data via cloud computing whilst Pay Solutions process and manage your payroll? Access is controlled by User login details and passwords so its a safe and convenient way of accessing the information 24/7 which is just one of the benefits of cloud computing.
By using our based cloud software, the Outsource Agreement can be structured to enable you to have much more control over your payroll. You may choose full outsourcing (i.e. where Pay Solutions does everything) or choose to capture/maintain various data elements of the payroll. These include:
- Time and attendance capture
- New engagements
- Leave processing
- HR record maintenance
- Printing of payslips and/or reports
Pay Solutions your cloud computing off site payroll and HR specialists, keeping you updated every step of the way!
A few more changes were made this year which we want to share in order for you to keep up to date with general payroll news.
INTEREST RATE CHANGE
The South African Reserve bank announced on 22 July 2015 that the official interest rate has gone up by 25 basis points. The rates at which interest-free or low interest loans Fringe Benefits are taxed, will therefore change. The new rate is 7%.
On 30 March 2015 the maximum amount of earnings on which the assessment of the employer will be calculated was increased to R355 752 per annum. In addition the submission deadline was extended to 31 May 2015.
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