Payline Payroll is a system available to use in Zimbabwe that companies, large or small can use for their compliance requirements for tax and other regulatory obligations. Payroll processing in Zimbabwe requires that one complies with different statutory bodies such as ZIMRA, NSSA, NEC and other bodies with respect to company industry and labour requirements.
With Payline Payroll, the business can be rest assured that it in the right system to be able to consider the different various requirements that come with running a payroll in Zimbabwe.
Tax Tables in Zimbabwe
Tax tables change as according to the ministry of finance directive where by the Minister of Finance may make the appropriate announcement thereby directing employers and the regulatory authorities to begin using the tax tables. The calculation of tax from the employees earnings is thus through the tax tables considering the other factors such as allowable deductions and the tax credits that need to be applied. Zimbabwe applies a additional levy on the final tax which is 3% of the initial calculated tax.
Payline allows for calculation of tax using the Final Deduction system or the PAYE method ensuring that you are compliant as required.
The Zimbabwe tax regime as of 2020 also includes processing of foreign currency incomes in USD, and hence tax table sin USD are available.
Employee Data
Payline payroll ensures that you have a minimum of Human Resource Data which varies from employee personal data, contract and much more. This enables the payroll administrator to stay in touch with records within their system as to who they are processing for. Like in any other country, people may change jobs in Zimbabwe and you many need to get their personal data as quickly as possible and Payline Payroll affords the user to able to achieve that.
Zimbabwe Payroll Compliance
As there are different compliance requirements needed to be compliance with in Zimbabwe. This mean producing such reports as P2, NSSA P4, NEC, Zimbabwe Development Fund reports. Payline Payroll ensures that the business can compile different reports for their business in time with good speed.
The system, allows for different reports with different sets of information and there is room for more reports to be made as well.
Leave Management
Other important facets of a payroll processing in Zimbabwe is being able to account for leave days for the employees. Employee leave days are governed by the Labour Act of Zimbabwe and must be observed as such. There are situations where the leave days affect the payroll processing which include selling of leave days, leave amounts owed to employees and much more. When processing the payroll there must be consideration of how leave days will affect the tax processing for earnings or deductions.
Benefits/Allowances
Zimbabwe allows for its employees to receive different cash benefits and non-cash benefits or fringe benefits. Benefits can accrue from use of company cars, holiday packages, interest on loans benefits and such. Some benefits can be the Cost of Living Adjustments (COLA) that employers may allocate to their employees over time. Payline Payroll allows for the processing of these in time and their creation where new forms of benefits are noted.
Regular allowances such as transportation allowances or housing allowances are covered in the system with options for more. In Zimbabwe employers have the option to apply different allowances as long as they are within the labour act and income tax context.
Payroll in Zimbabwe Processing Traning
There is more to processing a payroll in Zimbabwe and it is always good to have training on things to consider. Allowable deductions, pensions and tax credits are all just examples of setting that need to be allowed in the processing of a payroll. Suitable training is available such as the Certified Payroll Administrator Course in Zimbabwe provided by Payline Payroll distributors.