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Payroll Services and employment law 

Payroll processing in Israel, require deep knowledge with the Israeli labor law, and employment taxation and many local industry standards.

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Payroll Services 

  • Payroll accounting is the recording and management of employees’ compensation and taxation. This information includes salaries, gross wages, bonuses, commissions, fringe benefits, holiday pay, and other types of paid time off. Payroll accounting also includes withholdings for social  security and health care, wage garnishment, , contributions to savings plans and income tax

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  • The employer being an Israeli resident or company , a foreign entity or branch or local subsidiary;

 

 

 The service includes:

  • Monthly production of pay slips.

  • Gross wages, salaries, bonuses and commissions

  • Overtime pay

  • Payroll accounting taxes and withholding:

    • Social Security

    • Health care

    • income tax

    • Federal/state unemployment tax

    • Worker compensation insurance

  • Employer paid benefits and other compensation

    • Holidays

    • Sick days

    • Vacations

    • Insurance

    • Retirement plans

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  • Monthly reports, wage orders, reports to institutions for deductions (Form 102), social payments

  • costing and custom reports.

  • Production of relevant annual reports: Forms 106, Reports 126.

  • Account handling for departing and dismissed employees, including Form 161.

  • Absorption of new employees and updating of the wage system under the terms of their employment.

  • Treatment of reserve payments.

  • Coordinating wages with insurance agents in all matters related to managers' insurance policies, study funds and provident funds, updating collection tables, etc.

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