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Evaluating the Costs involved with Payroll in the Philippines

http://www.payrollhero.ph - Evaluating the Costs involved with Payroll in the Philippines. Check out PayrollHero for your Philippine payroll needs.

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Evaluating the Costs involved with Payroll in the Philippines

  1. 1. Evaluating the cost involved with Payroll Acquire a biometric system ≈ ₱ 18,000 - ₱ 25,000 Create your own HR team ≈ ₱ 50,000-300,000 / year Hire an accountant/benefits manager to compute your payroll & benefits ≈ ₱ 20,000-60,000 / Month Buy an HRIS software system ≈ ₱ 75,000 Acquire training support for your HRIS software system ≈ ₱ 10,000 / User Buy a server for your HRIS software system ≈ ₱ 50,000 Buy workstations for your HR staff ≈ ₱ 25,000 / Workstation Acquire IT troubleshooting & support ≈ ₱ 20,000 / Month Allocate office space for your HR department ≈ ₱ 15,000-50,000 / Month ≈ is the Estimation Cost Cost of an employee who is 5 minutes late and leaves 4 minutes early every day : 9 minutes x 260 days in a working year = Total of 39 hours This undeserved paid time really adds up when multiplied by the number of employees you have that get away with this. How much is buddy punching costing you? Cost of Errors What would be the repercussions if your payroll records for a few days, weeks, or months data were destroyed or lost in an accident? Is someone on your team checking every change that DOLE releases on payroll specifics on a continual basis? How confident are you that you’re government compliant? What is the cost associated for the hours it takes your HR team counting and processing manually made excel timesheets? How much could be saved eliminating this? How long does it take to resolve missing punch cards or errors in time data? How much time is required to create and maintain your employees schedule that is hand written and checked by employees? How do employees see the frequent changes? How much time is allocated to filling monthly government remittance forms of employees and bank details for payslips? ELIMINATE THE COSTS PayrollHero ensures none of these errors cost your company time and money. Everything listed above is done under your paid plan at a fraction of the cost. Total annual cost estimation for completing all payroll functions without our service can range between P400,000 to 900,000 a year for companies of smaller size. P1,000,000-4,000,000 a year for companies of bigger size. Better Insight, Better Decisions An employee that makes P80/hour who is late only 1 hr a week times 50 weeks that gets away with it = P4,000 a year or P334 a month per employee