Paramount may process the preparation of payroll for members and clients.
Depending on the agreement, the tasks that can generally be expected of just about all payroll service are as follows:
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Printing of member SOMA or client pay checks on time for payday
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Direct deposit of pay into member or client bank accounts, when desired
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Appropriate calculation and withholding of federal, state, and local taxes
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Calculation of government mandatories to be paid by member or client (such as Social Security and Philhealth and HDMF)
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Filing of quarterly and annual payroll reports
Additional services are also offered :
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Management of retirement and savings plans
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Timekeeping, either online or in the physical form of "time clocks"
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Producing export files containing payroll/general ledger data to be imported into a client's accounting software
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Human Resources (HR) tracking/reporting
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Direct reporting / filing and submission of government mandatory requirements.