Payroll Outsourcing

We acknowledge the importance of running and managing your business’ core activities. Certainly, as an employer, you do not need to also be a payroll expert. Therefore StaffMatters offers comprehensive payroll services, for both local and international companies, and ensures that all your Company’s payroll needs and requirements are satisfied on time.

Payroll Outsourcing and Registration Services

• Payroll set up
• Processing the Company’s monthly payroll
• Issue of payroll analysis, income tax, social insurance, pay slips, bank transfer reports and other payroll reports
• Arranging for the settlement of the Company’s monthly Social Insurance, PAYE liabilities and salaries
• Net to gross calculation of salaries
• Processing of multi-currency payroll calculations
• Maintain vacation and sick leave information
• Processing of employees’ Claim for Allowances (TD59) forms and preparation of tax computations for employees
• Issue of employees’ Annual Certificate of Emoluments (TD63)
• Assistance with the preparation and submission of the Annual Employer’s return (TD7)
• Preparation and submission of employees’ Annual Personal Income Tax Returns (TD1)
• Registration of the employer and employees with Social Insurance Service and the Social Insurance Services Online Payment system
• Registration of the employer and the employees with the Department of Taxation and TAXISnet registration

Immigration

• Issue of Registration Certificates to EU Nationals and their dependants
• Issue/Renewal of Temporary Residence and Employment Permits to Third Country Nationals and their dependants
• Issue of Immigration Permits (Permanent Residence) to Third Country Nationals and their dependants
• Issues/Renewal of Long Term Residence Permits to Third Country Nationals

Payroll Advisory Services

• Advisory services in relation to Social Insurance, Personal Tax Compliance and Payroll matters
• Assistance in case of PAYE investigation by Department of Taxation or Social Insurance investigation
• Review of employer’s payroll records, policies and procedures and provision of constructive feedback and effective solutions

Provident Fund Services

• Set up of Provident Fund including assistance with the preparation of the Fund’s Rules and Regulations (Memorandum), registering the Provident Fund with the Income Tax Authorities in Cyprus and assistance with registration of the Fund with the Registrar of Provident Funds in Cyprus
• Assisting the Fund’s Administrative Committee in safeguarding its compliance with applicable Provident Fund legislation
• Assistance with conducting Members’ Meeting and documenting the relevant Minutes of Meetings
• Present the Provident Fund’s financial performance and preparation of management accounts
• Assisting with the preparation of the Fund’s statutory financial statements (in accordance with IFRS)
• Complete accounting outsourcing services including liaising with external investment managers and auditors, preparing financial reports for management meetings and arranging periodic distribution calculations to members and circulating Member Statements

Benefits of engaging StaffMatters for providing Outsourced Payroll Services

• Cost effective solution to safeguard the accurate and effective processing of payroll calculations in line with income tax and social insurance legislation
• Ensure accurate and timely payment of salaries to employees
• Effective management of payroll costs via the implementation of new advanced technology for both Payroll and Time & Attendance records”
• Safeguarding the confidentiality of payroll details
• Avoid missing statutory filing deadlines or perform incorrect calculations
• Dedicated point of contact to manage all payroll enquiries

Time and Attendance Management System – Every minute counts
As an employer making use of the StaffMatters Payroll service, we offer a new, market leading Time and Attendance Management System, should you wish to make use of it. This system tracks your employees’ working hours, has a built-in approval system, real-time analytics and a focus on ease of use. You as an employer will be able to view real-time employee attendance information, accessible online at any time, from anywhere. StaffMatters offers this system at no additional cost if you use our Payroll service.

Flexibility and Transparency
Our services are flexible and you can choose which services you wish to use:

• You might wish to make use of only our Recruitment team, to source the best possible candidates for either permanent or contract positions

• Or you might wish to use only our Payroll service to manage your company’s full payroll function

StaffMatters will discuss your exact needs and provide you with an exact cost. When you entrust us with your Recruitment │ Payroll needs, we supply you with an upfront cost of all our services. The StaffMatters service is a completely transparent process with no hidden costs.

Let’s talk
Please contact us via email tony@smstaffmatters.com or phone +357 25341383.