Importance of Compliance & How ADS can help you to achieve Compliance in the Payroll field
Everyone knows that Compliance means to comply with a certain list of rules and regulations. What is important to know is, what is meant by compliance in the corporate world and how compliance helps companies around the world to operate successfully in a fully compliant environment.
I am Anisha Jhumun – Ubhee, Commercial & Compliance Manger at Africa Deployments (ADS). I will be giving an overview on the importance of corporate compliance and how ADS can help companies to achieve same in the field of payroll.
ADS is a Specialist Africa Employer of Record (EOR) solutions provider for International Clients operating on the African continent. We at ADS, practice corporate compliance religiously and we can help your company to be compliant in the 46 African Countries we operate in.
Corporate compliance is the process of making sure that your company and employees follow all laws, regulations, standards, and ethical practices that apply to your organization and industry in which it operates. In the payroll and EOR field, employees are employed in several countries across the globe and need to comply with the laws prevailing in that country. Corporate compliance is important as it helps a company prevent and detect violations of rules, which protects an organization from fines and lawsuits and at the same time helping you avoid waste, fraud and abuse.
Having been in the payroll field for many years, ADS can assist companies achieve compliance by:
- Employing the individual as per the legal framework in the country via the signature of a legal contract of employment.
- Following the employment laws and regulations of the country so that the individual is offered the relevant salary package which matches with the qualifications and skills of the individual being employed.
- Employment of local employees and expatriates according to the local employment laws in 46 African countries and assisting in the filing of the employment contracts with the labour office.
- Updating of contract details through Addendums to contract of employments to record salary increases/ extension of end date of contracts/change in salary details/etc..
- Filing and paying the taxes and statutory social contributions to the authorities in the country the employee is employed monthly/quarterly
- Ensuring that the receipts of filings done on a monthly/quarterly basis are received and checked to reflect the appropriate contributions amount paid to the authorities for each individual employed.
ADS promotes transparency through its compliance culture. All proof of filings are provided to the Client so that they are aware of the statutory filing status done for their employees. Periodic internal audits are conducted at ADS level to ensure the adherence to the monthly practices.
Please reach out to me on [email protected] for the above services/tailor-made compliance program in the payroll sector.
Thank you very much indeed for your time in reading this Article.