In any organization setting up a payroll system is very important. May it be 1 or 50 or 100 the number of employees in the organization a proper payroll system would be much beneficiary for both the employee and the employer. It is not a very major or difficult process setting up a payroll system.
It is very mandatory to get the employee identification number first. This can be obtained from the revenue service department when the employer submits the details of his employees.
This process can be simply done online also by getting enrolled in the revenue serviced website. It should be clearly mentioned that whether the employee is a contract based employee or a permanent one.
This is very important as the government rules and regulations are entirely different for the contract based employees and the regular employees. The next step essential in the setting up of payroll system is fixing the pay period. This may be monthly, bi monthly, quarterly or bi-annual. Mostly it is monthly basis payments which every company follows.
After finishing the above mentioned processes, the tax forms should be filled in by the employee and submitted to the revenue office so that the tax is withhold by the department automatically each month. The later can be claimed on submitting the necessary documents. Even here they deduct the amount paid for the insurance, medicals etc.
Now everything has become ready for preparing the payroll system in Malaysia. There are many types of payroll software system, the one which suits the organization and the needs of the organization the type of payroll system can be selected.
Then the documents and the details of the employee should be filed and recorded for future references. It is also mandatory to report the respected authorities about the income taxes and other taxes to which an employee is liable to.
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