Juslaws & Consult provides a pay slip creation service for clients as part of our overall payroll management package. We aim to meet our foreign clients’ payroll administration requirements and ensure compliance with Thai labor and tax laws and other government regulations.
Payroll is calculated at a frequency that is based on the company’s pay period, which could be monthly or twice-monthly, for example. The process involves preparing records for individual employees on their total income for that period and the various amounts that are deducted from that income.
An employee’s gross income is the total of salary or wages plus bonuses paid during a pay period. Amounts that are typically withheld from an employee’s total or gross income include personal income tax, Social Security, Provident Fund, and other agreed deductions. Net income is the amount of pay actually received by the employee after the gross income is reduced by the deducted amounts.
Income and deduction amounts appear on the employee’s pay slip, which is a document that is provided to employees on the pay date. The pay slip shows salary or wages earned for that period and details of all taxes withheld and deductions made.
Businesses that choose to outsource their payroll function find that they save time and money. By letting a professional services group handle payroll and other accounting requirements, companies do not need to hire specialist staff or acquire expensive software programs to manage payroll.