HR and Payroll Outsourcing

HR and Payroll Services & Outsourcing

Payroll is an essential function of any business, Oscoworks provides professional services and advisory in full accordance with HR, work visa, payroll processing and tax compliance to save time in HR process, reduction in payroll errors, improvements in employees satisfaction and retention and cost savings from streamlined and operations.

Our payroll service includes payroll management such as managing salaries, incentives, bonus, overtime and other payroll functions, tax services and reporting as well as keeping a record of your employee salaries efficiently.

You just submit your workers data and OSCOWORKS will handle the rest. Our team will calculate the correct amount your employees should be paid, process your payroll, and generate agreed reports and payslips

How Oscoworks can help ?

Our services are available for all sizes of businesses, provide expert support to help you solve problems and make sure you stay compliant with all applicable labor laws and regulations while letting you focus on growing your business.

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How Outsourcing payroll services can save your business time and money.

Time Savings

Payroll processing is costly and a time-consuming task. By outsourcing payroll, you can rest assured knowing your payroll is in expert hands. You can reclaim this time and resources to focus on other important tasks while we handle payroll processing efficiently.

Cost Effectiveness

Instead of investing in payroll infrastructure, we eliminate the needed for this expense, providing a cost-effective solution that aligns with your budget. This can help you avoid costly mistakes and penalties by ensuring payroll taxes are filed correctly and on time.

Compliance&Accuracy

Managing payroll is quite complex due to regulatory changes, statutory requirements and compliance obligations. To avoid costly errors, we are always up to date with the latest tax rules, ensuring payroll calculation accuracy and statutory compliance.

Data Security

Your employee’s payroll data is sensitive, we robust protect your confidential information containing their personal details such as identity, salary information, social security numbers, bank account details and this securely helps prevent data breaches.

Ready to enhance your payroll operations?

Importance of payroll in a business

With Oscoworks fully managing payroll, you save productive hours and resources while ensuring full compliance and reduces the risk of errors, on-time payments. Additionally, you’ll receive dedicated support from our payroll experts with years of industry experience.

Let us streamline your payroll process and give you peace of mind, contact us here:

Making payroll work for you and your team without any hassle, without any delay

Improved employees satisfaction

Informing employees about statutory deductions ensures they understand legal obligations, demonstrating the business follows labor laws
Outsourcing payroll can also lead to happier employees. When payroll is handled efficiently, employees receive their pay on time and without errors. This can help improve morale and retention.

Overall, outsourcing payroll can be a cost-effective solution for businesses looking to streamline their payroll processes.

Navigating the local regulations is key to ensuring a smooth and confident operation.

Here is a simplified guide to Payroll Management in Thailand.

1: Set Up a Payroll Schedule

Just as in any country, paying your employees on time is paramount. In Thailand, while a monthly pay cycle is common, businesses have the flexibility to choose a weekly or bi-weekly schedule as well. Your company’s specific pay date should be clearly outlined in the employment contract. The Labour Protection Act ensures that all employees are paid at least once a month unless otherwise agreed upon.

2: Data Collection and Employee Information

Accurate payroll begins with thorough data collection. For each employee, you must gather essential information, including:

Full Name and ID Card Number (or passport/work permit details for foreign employee)
Residential Address/Current address
Social Security Office registration details
Bank account information for direct deposit
Working hours, overtime, bonuses, benefits and any authorized deductions

In essence, you must register new employees with the Social Security Office (SSO) within 30 days of their start date to ensure they are covered.

Regularly update this information to reflect changes such as new hires, terminations, or adjustments in compensation. Keeping this data current ensures accurate payroll calculations and compliance.

3: Calculate and Record Payroll Transactions

Calculating net pay in Thailand involves mandatory deductions and contributions. The key components of the calculation are:

Gross Pay: This includes the employee’s base salary and any additional earnings like overtime or bonuses. Overtime pay is regulated by law, with standard overtime at 1.5 times the hourly rate and holiday overtime at 2 or 3 times the rate.
Personal Income Tax (PIT): This is withheld from the employee’s gross salary and is based on a progressive tax scale, ranging from 0% to 35%.
Social Security Contributions: Both the employer and the employee must contribute to the Social Security Fund (SSF). The standard rate is 5% of the employee’s monthly salary, with a minimum base of THB 1,650 and a maximum cap of THB 15,000. This means the maximum monthly contribution for both the employer and employee is THB 750 each.

Record all transactions meticulously to maintain transparency and prepare for audits or reporting.

4: Create Payslips and Process Payments

Once all calculations are finalized, you must provide employees with a detailed payslip. This document serves as proof of payment and must clearly show their gross salary, all deductions such as PIT and social security contributions and the final net pay. Timely payment to employees is typically done via direct deposit on the scheduled pay date to ensure employees receive their funds promptly and securely.

5: Statutory Compliance Maintains Filing and Reporting

Compliance is a critical aspect of Thai payroll. The Businesses are responsible for submitting employee and employer contributions to Social Security and tax authorities.

Social Security Fund (SSF): Employer and employee contributions must be remitted to the Social Security Office by the 15th of the following month.
Personal Income Tax (PIT): Withheld income tax must be filed and paid to the Revenue Department on a monthly basis using the P.N.D. 1 form.

These submissions must be done accurately and on time to avoid penalties and surcharges, ensuring your business remains in good standing with Thai law.

Simplify Payroll with Oscoworks

Managing payroll can be time-consuming and complex, but it doesn’t have to be. At Oscoworks, our HR and payroll outsourcing services take the burden off your shoulders. From setting up schedules to ensuring compliance, we handle every detail so you can focus on growing your business. Contact us today to learn how we can streamline your payroll process and keep your employees happy.

Are you looking for an easier way to do estimating and job costing for your business?

Let’s connect if Oscoworks’d help!

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You Find the Talent

You maintain complete control over the talent acquisition process, identifying and selecting the candidate for your organization.

Get a Transparent Price Guarantee

You provide us with the candidate’s details to receive an accurate and comprehensive upfront cost estimate. Our pricing model is transparent, ensuring you have a clear understanding of all associated costs.

Let Us Handle the Rest

Once the candidate is selected, we take over all administrative functions; onboarding, payroll processing, managing social security contributions and administering employee benefits. For foreign employees, we also provide assistance with securing work permits and visas to ensure full compliance.

Focus on What Matters

With these critical functions expertly managed by our team, you are free to concentrate on your core business growth and the strategic direction of your new team member’s success.