Payroll Services

  • Entering new employee records
  • Processing termination of employees
  • Maintaining employee master data
  • Inputting timesheet data
  • Processing salary increase or modification
  • Processing pay adjustments (bonus, allowances, deductions)
  • Preparation of pay slips
  • Provision of net salaries to be transferred
  • Provision of GL posting in a format to be agreed with Client
  • Data provisions (private pension funds, voluntary pension funds, reporting an insured employee to the authorities, reclaiming of other social security provision)Definition of monthly tax liabilities, contributions, deductions and fees (to the authorities, private and voluntary pension funds)
  • Handling of sick leave and maternity administration as required
  • Preparation of annual forms and returns
  • Performing payroll system’s year-end close
  • Preparing social security contribution and personal income return, where it is compulsory to be submitted by the employer (on behalf of the employee)
  • Opening and operating a dedicated bank account (payroll treasury account) to execute Client approved bank transfers of net salaries, payroll taxes and social charges on behalf of the Client to the employees respective bank accounts and to the Czech Treasury (OPTIONAL)

Contact:
Michal Kratochvil
Chief Financial Officer
T: +420 775 854 943
E: mkratochvil@tvoeurope.com