Corporate Management
Get comprehensively integrated information of management and personnel needs, multi-dimensional analysis, index evaluation, and multi-dimensional decision-making information to back your planning your corporate strategic goals.
The basics
Why Is Payroll Management More Challenging?
Payroll management is a difficult problem for almost any organization, mainly because the salary management system of an enterprise needs to maintain the balance between fairness, effectiveness, and legality.
There are growing numbers of factors to consider when deciding on a payroll system. In addition to the basic economic affordability of the enterprise and government laws and regulations, it also involves the strategy of the enterprise in different periods, internal talent positioning, external talent market and field competition, and the employer’s strategy.
Payroll management refers to the process an organization applies to determine the bonuses, welfare structures, and forms of compensation that all employees should receive for the services they provide.
Is it right for you?
Who Should Consider Outsourcing Their Payroll Management?
There are many reasons that a company chooses to outsource their payroll management and even the whole Human Resources department to third-party professional service providers.
In general, the following types of companies will prefer to partner with payroll service agencies than building their own in-house team.
Scope
What Hongda Handles in Payroll Management
Hongda can help you handle the daily work of managing your employees and the payroll system on your behalf to save your time and budget.
- Calculate monthly salary, including basic salary, performance pays and other benefits
- Provides payroll details, variance analysis reports and payroll accounting entries
- Pay monthly salary to employees to their bank accounts
- Bank statement and transfer history recording
- Provide detailed list of monthly salary to employees
- Provide annual statements and appendices
- Calculation of statutory benefits remuneration under related laws and regulations
- Preparation and filing of employer tax returns
In general cases, the service fee is charged ‘per person per month’ and may vary based on the numbers of employees and contents of services.
How it works
How payroll outsourcing works, step by step.
Quick answer: a payroll cycle runs in four stages: employee information, calculation, payment and filing. Select a stage for detail.
Stage 1 of 4
Provide employee information
You provide the payroll service with necessary employee information, such as hours worked and wage rates.
- Employee information such as hours worked and wage rates.
Stage 2 of 4
Calculate pay and deductions
The service provider calculates salaries, taxes, and deductions.
- Calculate monthly salary, including basic salary, performance pays and other benefits.
- Calculation of statutory benefits remuneration under related laws and regulations.
Stage 3 of 4
Pay salaries
Monthly salary is paid to employees’ bank accounts.
- Pay monthly salary to employees to their bank accounts.
- Bank statement and transfer history recording.
- Provide detailed list of monthly salary to employees.
Stage 4 of 4
File and report
Payroll tax reports are prepared and filed with the relevant authorities.
- Preparation and filing of employer tax returns.
- Provide annual statements and appendices.
Hongda can help you handle the daily work of managing your employees and the payroll system on your behalf to save your time and budget.
Benefits
What Are the Benefits of Outsourcing Payroll Management?
When you choose to outsource payroll management, you will find out that you not only save a great amount of money to hire in-house staff to handle the whole system, but also the valuable time and energy to operate your business and pursue your success.
Human Resource
Access to full-scale management of personnel, salary, attendance, shift scheduling, and other related matters, which can assist the enterprises to construct management mechanisms according to their business objectives and formulate talent development strategies.
Staff Performance
Individual information and related statistics data are available anytime, including attendance, performance track, and development path of your employees, and help you design the suitable improvement path for your staffs.
Data and fees
Data Security and Service Fees
Personal information protection
Hongda has established a system to store the data of your company and keep it safe.
How the service fee is charged
In general cases, the service fee is charged ‘per person per month’ and may vary based on the numbers of employees and contents of services.
Why Hongda
Why Choose Hongda for China Payroll?
Coordinate payroll with the accounting and people work around it, with one China-based service team.
Since 2007
Serving foreign companies in China since 2007, with client relationships that go back to 2008.
One team, end to end
Company setup, banking, tax, payroll and work permits coordinated by one team.
In English, on the ground
English-language project management with a China-based team in seven locations.
Clear scope and limits
We confirm the scope before work begins and say which decisions rest with authorities or banks.
Trusted by companies including
Client voices
Clients who have stayed with us for years.
Travis Perkins
David Finch BA ACMA CMIIA CAMA
Director of Group Business Risk & Assurance, Travis Perkins PLC
With Hongda since 2008
Travis Perkins PLC (a leading builders merchant in the UK) has been using Hongda Business Services since 2008 for accounting and professional services. Throughout this time, we have found the team at Hongda to be very helpful and professional in their dealings with us. We look forward to working with the company in the future.
Sound United
Jack Peng
Vice President, Asia Pacific, Sound United
With Hongda since 2013
Sound United (a leading designer and manufacturer of consumer audio products in the US) has been using Hongda Business Services since 2013. Moving one’s operations to China is not a small task, but Hongda’s expert services helped us set up a company and deal with tax issues so we could get on with growing our business in no time at all, and that’s why we continue to use them today.
Tulip Pacific Ltd.
Erik de Waard
Director, Tulip Pacific Ltd.
With Hongda since 2012
Tulip Pacific Ltd. (Business planning and interim financial management services) has been using Hongda Business Services since 2012. Hongda has helped us set up legal entities in China/HK and takes care of our annual company audits. They are the most efficient business service provider I have worked with to-date, and their professional advice has helped me better advise my own clients and provide greater value to my overall business.
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Your team
The people you will work with.
Meet the three chief consultants at Hongda, including founder Angel Ho and co-founder Bobby Lee.
Angel Ho
Chief Consultant, CEO
Founder of Hongda in 2007. Holds Chinese Tax Agent, IPA (Australia) and IFA (UK) certificates. Provides one-stop services covering market access, company establishment, financial settlement, financial and tax consultation, and human resources management.
Bobby Lee
Chief Consultant
Co-founder of Hongda. Many years of corporate legal consultancy and involvement in managing client enterprises. Familiar with tax, personnel and project management work across Guangdong, Hong Kong and Macau. Excellent English communication skills.
Strong Song
Chief Consultant
24 years in enterprise management, business development, and financial and tax compliance. Has provided financial and tax advisory services for hundreds of companies. In-depth learning and practical experience in IFRS (International Financial Reporting Standards), Generally Accepted Auditing Standards and International Taxation.
How does Hongda charge payroll management service fee?
In general cases, the service fee is charged ‘per person per month’ and may vary based on the numbers of employees and contents of services.
How is the security of personal information protection of my employees?
Hongda has established a system to store the data of your company and keep it safe.
How does a payroll service work?
You provide the payroll service with necessary employee information, such as hours worked and wage rates. The service provider then calculates salaries, taxes, and deductions, generates paychecks or direct deposits, and files payroll taxes with relevant authorities.
How often should I run payroll updates?
Payroll can typically be modified on a weekly, biweekly, semimonthly, or monthly basis, depending on your business’s pay schedule.
How are taxes handled with a payroll service?
The payroll service will calculate and withhold local taxes from employee paychecks. They will also prepare and file payroll tax reports and deposits to ensure compliance with tax regulations.
Contact our team
Still Have a Question? Get in Touch Today!
Share your plans, structure and timing. We confirm the scope with you before any work starts.