Payroll
Monthly Payroll
- Computation and payment of withholding taxes
- File withholding tax and payment
- Net payment transfer to each employee’s bank account
- Output monthly payroll list by department and cost center, together with payment slips
- Issue certificates
![img-payroll-monthly img-payroll-monthly](https://korea.tricorglobal.com/hubfs/korea/img/solutions/payroll/img-payroll-monthly.jpg)
Year-end Individual Income Tax
- Provide guidelines for year-end individual income tax settlement
- Review each employee’s individual income tax deduction form
- Perform year-end individual income tax settlement
- Prepare electronic return of withholding tax
- Prepare withholding tax payment certificates for annual income
![img-payroll-year-end-individual img-payroll-year-end-individual](https://korea.tricorglobal.com/hubfs/korea/img/solutions/payroll/img-payroll-year-end-individual.jpg)
Final Settlement for Terminated Employees
- Perform interim income tax settlement
- File severance payment return with tax office
- Computation of severance income tax and resident tax
- File all required returns for interim income tax settlement
- Computation of severance payment according to client’s regulations (including interim severance payment) and reconcile severance payment with monthly severance accrual
- Pay net severance to terminated employees
![img-payroll-final-settlement img-payroll-final-settlement](https://korea.tricorglobal.com/hubfs/korea/img/solutions/payroll/img-payroll-final-settlement.jpg)
Administration of Statutory Insurance
- Notify institutions of terminated employees
- Deduct and pay insurance premiums
- Annual settlement with the social insurance institutions
- Upon hiring new employees, register with four different social insurance institutions
![img-payroll-statutory-insurance img-payroll-statutory-insurance](https://korea.tricorglobal.com/hubfs/korea/img/solutions/payroll/img-payroll-statutory-insurance.jpg)
Web Services
Tricor South Korea’s Human Resources Information System is a modular system that empowers human resource personnel and employees to manage their personal data, including but not limited to, education, career and family background; possession of certificates, licenses and training; health status; military service status; and business travel and promotion history.
Tricor South Korea’s web platform provides employees with easy access to important documents, such as receipts for wages & salaries; tax clearance certificate of Class A wages & salaries; report of exemptions & deductions from wages & salaries; and certificates of employment & career.
Our advanced system can perform statistical analysis of payroll data by cost center, by division, by position and by time. Examples include average salary analysis, variance analysis, and budget simulation.
![img-payroll-web-services img-payroll-web-services](https://korea.tricorglobal.com/hubfs/korea/img/solutions/payroll/img-payroll-web-services.jpg)