Payroll outsourcing
Payroll outsourcing involves transferring salary calculations, payroll taxes, and employee insurance contributions to a specialised third-party provider. This function is required at least twice monthly under Article 136 of the Russian Labour Code. Additional interim payments (e.g., employee terminations) may necessitate near-daily processing.
FBK handles all payroll operations related to salary calculations and payments, tax withholdings, and payroll reporting for government agencies.
Outsourcing payroll processing eliminates the need for dedicated in-house accounting staff in this functional area, as these positions often remain underutilised. Meanwhile, outsourced accountants handle multiple payroll clients concurrently, maintaining full workload efficiency. This delivers cost savings on internal accounting salaries while transferring the function to accounting professionals.
- Calculations of salary, taxes, and insurance contributions for each employee based on staffing schedules, local regulatory acts, and other supporting documents.
- Accruals for vacations, business trips, benefits, and other off-cycle payments, as well as termination settlements.
- Payslip generation and distribution to staff members.
- Monthly/quarterly/annual filings for Russian Federal Tax Service, Social Fund of Russia, Rosstat (Federal State Statistics Service), etc.
- Preparation of all required payroll documentation and accounting entries (including payroll registers, calculation worksheets, payroll sheets, etc.).
- File preparation (including or excluding payroll card programmes).
- Automated posting of payroll entries to your accounting system.
- Calculation of labour-related provisions and estimated liabilities.
- Assistance during regulatory inspections related to payroll calculation for the service provision period.
- Preparation of management reports detailing workforce expenditures, insurance contributions, and payroll taxes to support strategic business management and growth planning.
- Accurate payroll processing:
- precise calculation of all compensation: base salary, bonuses, allowances and other benefits;
- correct withholdings: deductions, alimony, and other mandatory withholdings;
- acсurate special-case payments: overtime, vacations, sick pay and other instances;
- compliant payroll tax and insurance contribution calculations.
- Timely salary disbursement: strict adherence to statutory, employment contract terms, and company local regulatory acts.
- Compliant reporting:
- submission of all tax declarations (PIT, insurance contributions and other mandatory payments);
- full compliance with tax legislation and accounting standards.
- Transparent data access:
- 24/7 access to payroll system data for clients to review accruals, deductions, and payments;
- regular operational reports upon requests.
- Data protection guarantee:
- employee personal data secured per Federal Law “On Personal Data”;
- access restricted to authorised personnel specified in contracts.
- Risk mitigation: minimised errors through professional expertise and the use of cutting-edge technologies.
- Continuous support: clients are updated on payroll, insurance contributions, taxation, and legislation.
