9 out of 10 companies are affiliated to a payroll services provider. But which services does it actually provide? And what are the advantages? The answers are summed up below.
What does a payroll services provider do?
A payroll services provider handles a number of administrative tasks for companies with employees: from payroll administration to HR policy and social-legal advice. For example:
payroll calculations (including withholding tax, holiday pay, bonuses and allowances)
the collection and payment of social security contributions and withholding taxes
administrative tasks dealing with absenteeism, incapacity for work, time credit, etc.
advice on recruitment, absences and dismissal
Not to be confused with the enterprise counter and social insurance fund
The enterprise counter is the office where you register your business and obtain a company number, permits and such. The social insurance fund collects the social contributions paid in by self-employed professionals. Many organisations have the dual role of enterprise counter and social insurance fund.
What are the advantages of a payroll services provider?
Even though enterprises are not obliged to get affiliated with a payroll services provider, 90% of Belgian companies have opted for this solution. This can be attributed to a number of factors:
Not only are payroll processing and filing tax returns specialist work, but they are also repetitive chores. Entrusting those tasks to experts frees up more time for your core business.
It goes without saying that your employees should be paid correctly and on time. A payroll services provider gives you such peace of mind.
You get advice on your rights and obligations to make sure you remain legally compliant. This allows you to avoid fines or other financial sanctions.
We’ve convinced you? Check out the different rates
Brussels has several recognised payroll services providers, each with its own rate. There are various options: you pay a fixed monthly amount for all services or a (low) basic amount with extra costs if you request additional service. You should therefore ask about the costs before you start working with a payroll services provider.