Sovereign Corporate Services Dubai can provide a complete payroll management and processing services to our clients. Regardless of the size of the client, number of employees and complexities of the payroll, we can tailor our offers as per the client’s need.
While some clients choose our service in order to reduce their operational cost by outsourcing their non-core activities, some clients prefer to keep payroll related information confidential from the internal employees. More importantly, there are list of administrative and legal requirements that comes along with having an employee in a company, on all of which Sovereign can assist clients either on advisory or execution basis. Below are the list of services covered under our Payroll management package.
- Issuance of monthly payslips, Salary Certificates and Bank transfer letters.
- Leave management for the employees example Holidays, Absences, Paid Leaves
- Issuance of No Objection Certificates (NOC) for employees
- Preparation of Offer letters
- Assistance with application and selection of suitable Health/medical insurance
- Assistance with the setup of Wages Protection System (WPS)
- Calculation of Statutory gratuity payments as per the UAE labour law.
- Calculation of the end of settlement in the case of termination during probation or after probation period as per the UAE labour law.
Benefits of choosing our Payroll Services in UAE:
- Cost Effectiveness: Hiring a dedicated accountant in UAE comes with various obligations and costs related to monthly salary, annual air tickets, visa, emirates ID & labour contract fees, mandatory medical insurance, gratuity provisions, annual leaves, training costs and overtime costs. Our fixed monthly fees tailored as per your requirement will be far more affordable than the total cost of hiring an in-house accountant.
- Access to Expert Knowledge: Our experienced professionals will be able to advise you on extensive issues related to UAE labour law ensuring compliance with any latest updates. Furthermore, outsourcing of these non-core activities will provide operational efficiency to the organisation.
- Enhanced Security and Confidentiality: Outsourcing the payroll function will mitigate the risks of leakage of sensitive information, employees’ identities and potential misuse of company funds.
Payroll Services – FAQs
- What is the cost for payroll services in Dubai/UAE?
Our Payroll management is offered as a complimentary service to our clients outsourcing the book-keeping services to Sovereign Dubai. If you are also interested in Book-keeping services However, if you are only interested in payroll services for now, please feel free to contact us so we can discuss your current need and tailor our services accordingly.
- What is WPS?
Wages Protection System (WPS) is an electronic salary transfer system that allows institutions to pay workers’ wages via banks, bureaux de change and financial institutions approved and authorized to provide the service. The system developed by the Central Bank of UAE, allows the Ministry of Labor to create a database that records wage payments in the private sector to guarantee the timely and full payment of agreed-upon-wages. The WPS covers all institutions registered with the Ministry across all sectors and industries and will benefit different categories of labor. (Source: Ministry of Labor)
- What is end of service gratuity?
End of service gratuity in UAE is an amount every employee is entitled to receive from his/her employer once the employment comes to an end. This is governed by the UAE labour law.
- How is the end of service calculated in Dubai/UAE?
This depends upon variety of factors. The total salary, basic wages, and duration of employment, type of labour contract, dismissal or resignation – all will have to be considered while calculating the End of Service gratuity. Please contact us for further details.
- Do you provide HR Services?
In addition to the Payroll services, our in-house Human Resources specialist can provide a complete guidance on the UAE labour law, employment contracts, recruitment of employees, preparation of staff handbooks, dismissal managements, redundancies, arrangement of visas, labour contracts and more. Please get in touch with us if you wish to know further about this services.