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Payroll Services

Overview of Labor Cost in Mexico

In the year of 2015, the average labor cost of manufacturing industry in Mexico is 5.9 dollars. And it declines 12.7% compared with the last year. For the industry of motor vehicle, the average labor cost is 8.1 dollars. In the past years, the average labor cost of motor vehicle industry has increased 0.25%.

The background of low increasing of labor cost in Mexico is the deprecation of peso against to dollars. After the Lehman Shock, the market value of peso is declining in the past two years. The average labor increase rate is 4.45% from 2011 to 2015 for who is registered to IMSS (Social Insurance Office). According to the research of JETRO, the general level of salary in Mexico is lower than China and Thailand because of the increasing of the labor cost in Asia.

 

Our Payroll Services in Mexico

The benefits of our services are as follows. First, we can reduce the work of payroll calculation. Second, we can keep the information of salary not known by employees. Third, we can ensure the employers and employees to be feeling secure after the retirement of employees. Fourth, we can calculate the insurance fees exactly with the change of insurance rate.

The basic services of payroll services include the making of payroll table and payment table of taxation at source.

   The payroll table services include managing the necessary master information, totaling the time cards and making the payment payroll.

   The payment table of taxation at source will be made and sent to clients before the date of tax payment

   We must deliver the goods within three days.

   We will send the basic accounting books and the payment details to your companies.

   We can response to multi-payment dates multi time limit.

To learn more about our incorporation assistance and a range of services of payroll in Mexico, send us a message or call us at +81-3-5369-2930.

 

Select List of Mexico Payroll Processing Services(but not limited to the following):

・Weekly payroll processing; generation of weekly reports

・Payroll is paid electronically through the bank the company chooses

・Generation of monthly, bi-monthly or annual reports for external auditors (depending on client’s specifications)

・Calculation of the monthly and bi-monthly amounts for SUA (Sistema Unico de Autodeterminacion), in compliance with the Mexican Social Security Institute. Generation of an electronic file for payment of these amounts.

・Calculation and preparation of all fluctuating expenses on a bi-monthly basis.

・Calculation and reconciliation of the monthly Fonacot quotas. Fonacot is a fund that supports workers in the acquisition of goods and services. Fonacot receives contributions from 3 sources: the Federal government, the employer and the worker

・Payroll processing for Aguinaldo (Bonus Payment), the savings fund, holidays and PTU (profit sharing), as well as any other special payroll requests on behalf of the client.

・Generation of the annual statement for wages and salaries

To learn more about our incorporation assistance and a range of services of payroll in Mexico, send us a message or call us at +81-3-5369-2930.