Employers in Saudi Arabia have commitments to be met during the payroll process in order to remain compliant and to keep their business operations running smoothly.
The General Organization for Social Insurance (GOSI) requires employers to make contributions on behalf of their employees. GOSI, is focused on social insurance and implements social insurance rules, collects employer contributions and pays benefits. It offers contributors compensation due to work-related injury or illness, payment for retirement or having to leave work temporarily or permanently due to work-related physical incidents. It is applicable to all private sector employees, both Saudi national and expats, and a group of public sector employees.
Employers also need to pay salaries through the Wage Protection System (WPS), which is in place to ensure that private sector employees, both Saudi nationals and expats, receive their wages as agreed. The WPS ensures that private sector employees are paid their wages on time and the amount that was agreed in the initial contract. Salary must correlate with what has been registered in the GOSI system.
We provide will companies with payroll management reports including a payroll register, compensation and salary analysis report, pay-run variance report, payroll accrual, paid leave summary and status reports, G/L reports and paid leave trial accrual reports.
Our services include:
- Full payroll cycle
- Wage protection system (WPS)
- GOSI calculations
- Pay slips
- Bonus, overtime and incentive management
- Benefits administration
- Reimbursement processing
- Leave management
Our in house finance team have extensive local knowledge and provide companies with security and experience. We ensure the data that our clients give us is protected and confidential whilst ensuring that all local regulations are met.
We keep the payroll process simple while ensuring your compliance at every level. Our services ensure that your employees receive their salaries on time, reduces operating costs, supports your administrative functions, reduces the risk of fraudulent activities and provides 100% transparency throughout the process.