PEO system exist to help employees such as direct deposits, taxes, reimbursement card, company card, and salary bonuses.

Direct deposits are made in Korea to abide Korean federal laws and its taxes. With the card usage, it will follow the protocol for each company and follow Korean traditional year-end tax report. Major penalties will follow not by following the tax administration. PEO will be the middleman for handling small details by professionals in Korea.

If payment adjustments are to be made each month, the company will notify us changing each payment by each case. Notifying and informing us beforehand, we will also help procced with the employment contracts of sick leaves and holidays.

Typically, Professional Payroll Services include:

• Registration of 4 mandatory Insurances and
• employee documentations (month / year)
• Monthly payroll to employees
• Employment training period and termination
• Year-end tax report for local employees
• Employee compliance
• Expense declarations (reimbursement, card use)
• Holidays (Company and Korean holidays)

The team at GHK manages each financial aspect associated with human resource management. We offer timely solutions to keep your organization ahead of its tax commitments, and commitments to your employees as specified by employment law in South Korea. This includes arranging insurance for employees on the client’s behalf, managing employment benefits and a wide range of other HR responsibility. Specifically, we follow:

• Set Up And Run Employee Payroll Calculations— Our accountants and payroll consultants will run all the necessary calculations pertaining to payroll finalization. Consolidated totals and final payrolls will be submitted in a timely manner.
• Expense Claim Declaration And Reimbursements— We will track and record employee expenses incurred during the course of employment, specifically those expenses incurred to fulfill employee responsibilities. Our team will also distribute reimbursements for any expense claim declarations.
• Benefits Management— We will ensure equal access to applicable benefits to employees. This also includes registration of 4 mandatory insurances, as well as the management of associated employee documentation.
• Leave And Holiday Management— We will keep track of attendance and maintain detailed accounts of holidays or leaves availed by employees.
• Insurance Registrations And Official Deductions— The PEO Korea team arranges mandatory insurance coverage for all employees and manages payments related to official deductions as required by law.
• Monthly Payroll Processing— PEO Korea handles all payroll processes include wage disbursals in the form of checks, account transfers, or whichever payment process is employed by the client organization.
• Annual Tax Declaration— Our team will use the information gathered in the course of performing our duties to file taxes and declare annual tax liability.