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

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

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

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

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.

Monthly Payroll

Year-end Individual Income Tax

Final Settlement for Terminated Employees

Administration of Statutory Insurance

Web Services

Other Services