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Outsourcing the payroll function is increasingly seen as leading practice. Choosing the right payroll provider is crucial due to the number of highly confidential administrative functions involved.

 

Introduction

The demand for payroll outsourcing services is growing rapidly as legislative requirements increase and administrative demands become more intense. Many leading companies are outsourcing  administrative functions to a payroll services provider, allowing key decision makers to concentrate on core business activities and promote growth.

 

Our accurate and comprehensive payroll management services save valuable resources and maintain confidentiality. We handle payrolls from industry sectors including banking, insurance, telecommunications, investments, government, construction, heavy engineering and oil & gas.

 

Our qualified and dedicated team deliver effective payroll services to meet client expectations based on generally accepted accounting principles in line with legislative requirements.

 

Why outsource payroll services?

Outsourcing payroll services:

  • Decreases payroll document trails
  • Enables accurate reporting
  • Ensures compliance with local legislation
  • Reduces the administrative load on your HR function
  • Improves data accuracy and policy adherence
  • Protects employee compensation confidentiality

 

As a professional payroll services provider, our payroll functions include:

  • Processing payrolls
  • Preparing and forwarding payroll registers
  • Opening bank accounts on clients’ behalf to receive funds and pay salaries and other expenses
  • Transferring salaries and payroll-related expenses to employees’ accounts
  • Processing pay slips and emailing them to employees
  • Preparing, reconciling and sending payroll break-downs
  • Filing payments with government authorities, such as the Social Insurance Organisation
  • Advising on employers’ and employees’ obligations and contributions
  • Advising on processes and procedures relating to the Labour Markets Regulatory Authority (LMRA), as well as work permits, resident permits and immigration matters

 

Payroll administration

We offer a range of payroll administration services including:

  • Preparing salary certificates
  • Calculating leave pay based on leave balances provided by clients
  • Calculating leaving indemnities
  • Calculating final settlements

 

Payroll systems

Security and confidentiality of data is of paramount importance at Keypoint. Our payroll system is set up so that only key personnel have your business profile. We utilise the latest technologies to deliver an accurate, highly secure and quality-oriented service.

 

Our payroll software is upgraded regularly and we invest heavily in our technology. Clients benefit from our extensive contingency plans, with regular system upgrades and enhancements carried out by our experienced technical staff.

Payroll regulatory requirements

Social Insurance Organisation

All foreign and local staff in the Kingdom of Bahrain must register with the Social Insurance Organisation (SIO).

 

Keypoint can:

  • Provide the required information to register clients with the SIO
  • Arrange formalities
  • Advise on information required to register and terminate employees
  • Process payments of SIO invoices on a monthly basis
  • Annually update staff remuneration details

Labour Market Regulatory Authority

All foreign staff in the Kingdom of Bahrain must register with the Labour Market Regulatory Authority (LMRA).

 

Keypoint can:

  • Provide the required information to register clients with the LMRA
  • Arrange formalities relating to work visas, residence permits and immigration matters
  • Process payments of LMRA invoices on a monthly basis

Overlooking legislative requirements or making inaccurate payments is a significant business risk. We constantly update clients on payroll-related matters and make it our priority to be at the forefront of all aspects of payroll management functions.

Shanta Venkitachalam
Executive Manager
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