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Payroll in China

Tannet Group Limited
Tannet Group Limited
City: Nanchang
Province/State: Jiangxi
Tel: 86-0791-88167848
Contact Person:
Wendy

Payroll in China

Brand Name : Tannet
Email : 2355725160@qq.com
Website : www.ono-bbb.net
Contact : Wendy
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China payroll serviceis one of Tannet's China company follow-up services. As China continues to emerge as the largest contributor to global growth, many companies have sought to set a foothold in this rapidly expanding market. While there are many benefits for multi-national organizations that establish operations in the country, there are a number of challenges as well. Aside from the difficulties of hiring employees in a foreign land, such as language barriers and cultural differences, one of the most daunting aspects of expanding into China is successfully navigating the nation’s complex payroll policies.

Payroll is a critical function for business operations all over the world, and China is no exception. As the country has numerous statutory regulations regarding payroll and associated processes like income tax and social security contributions, understanding these policies can be difficult for any company. With serious fines and penalties for employers who fail to adhere to these regulations properly, a solid understanding of China’s payroll laws is the first step to compensating employees properly. To ensure success, consider the following areas of most importance when administering payroll in China.

Payroll in China – Obey the Related Regulations
One of the biggest risks employers face when hiring staff in China is not fully complying with the nation’s employment regulations. To ensure compliance and mitigate risk, it is crucial that employers understand their responsibilities, such as:
For each new employee hired in China, the employer must file the appropriate social insurance paper work on the employee’s first day.
The employer is also responsible for withholding income tax from employee salaries and paying those taxes to China’s tax bureau before the 15th of each month. The rate of income tax varies based on the amount of the employee’s taxable salary and on any potential tax exemption status.
Both the employer and employees are required to contribute to the Social Insurance and Housing Funds. These contributions must be paid to the Bureau of Labor Insurance, National Health Insurance Council and the Employee Pension Board before the 15th of the following month.


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