If you have employees, you must compute payroll and payroll taxes and remit them to the proper agencies. This is compounded further if your business operates in multiple states. A PEO, ASO or Payroll Service will calculate your payroll and payroll taxes, remit them to the proper agencies, report new hires as regulated, and make the necessary updates to tax calculations.
Employee Benefits are key to attracting and retaining the talent you need to be successful. PEO's and ASO's can provide a wider range of benefits at significantly lower rates through their group buying power. Health, Dental, Vision, Disability, Life, Accident and Critical Illness insurance along with 401-K and IRA options are available, so you can compete with Fortune 500 companies for talent.
There are hundreds of federal, state and local regulations that a small business must understand and manage, and they are constantly changing. PEO's and ASO's can help manage these regulations and provide professional advice and expertise at a fraction of the cost of hiring a complete HR department. They will provide you with a legally compliant handbook and help perform background checks on new hires.
Pay-As-You-Go Workers Compensation Insurance, Safety Manuals and Training, Back to Work Programs, and Claims Management are all services a PEO and ASO can provide. Employer Practices Liability Insurance (EPLI) and Cyber Insurance are often available at discounted rates.
Now you can manage the complete employee lifecycle from hire to retire that links your payroll, employee documentation and employee benefits in an easy to manage cloud application. Save valuable time and resources by using a Cloud Based System to keep your employee's information safe and secure.
PEO's use their federal identification to report taxes, provide workers compensation insurance, and provide benefits using Co-Employment. ASO's function similar to a PEO, but report everything under the client's federal identification. Payroll Services provide basic payroll function like calculating and remitting taxes.
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