Tuokko — Praxity’s local payroll service provider in Finland
Have you founded a company in Finland, or are you hiring employees in Finland for a company that is registered abroad? Are you looking for a reliable payroll partner in the region? We have several years’ experience of international assignments for organizations of all sizes. Come to us for payroll services, whether you are a single entrepreneur or large organization.
Outsourcing payroll services to a local provider often makes sense for companies operating abroad. Provision of high-quality services requires knowledge of local legislation and collective agreements, and smooth interaction with the authorities. So leave your payroll issues to us, while you focus on your core business.
Online payroll services
We use Netvisor by Visma to provide services and handle the entire payroll process. Netvisor is a modern financial management and payroll application, which can combine payroll and employer processes in a single, cloud-based service. In addition to Netvisor, we can use a common archival database for data sharing in compliance with the current data security legislation.
Netvisor enables the maintenance of a simple employee register, with each payroll run being stored in the system data. Wages can be paid directly from the application for companies with a Finnish bank account. Netvisor can also report statutory data directly to the Incomes Register and Tax Administration, via a turnkey software interface.
If wages are paid by the hour, working time can be monitored electronically, directly providing payroll clerks with logged hours as a basis for salary calculation — no separate hour-lists are needed.
If Netvisor is used to handle the company’s accounting, payroll accounting vouchers are booked directly in the ledger. If another accounting system is used, vouchers can be forwarded directly to the accountant.
Are you an employer in Finland?
An employer that pays wages regularly must register with the Tax Administration’s Employer Register, if the company has a permanent establishment subject to income tax in Finland. It must also sign agreements for statutory accident and group life insurance taken out on behalf of its employees.
In Finland, employers have a legal obligation to arrange pension insurance and book pension contributions. This obligation also applies to foreign companies operating in Finland. Employers tend to take out statutory pension insurance from an employee pension insurance company.
In addition, they must pay unemployment insurance contributions for wages amounting to more than EUR 1,300 in a single calendar year. Both employee and employer must make unemployment insurance contributions, although the employer books the payment.
The employer’s responsibilities include deducting income tax and statutory pension and insurance contributions from wages.
- Health insurance is paid to the tax authorities.
- Earnings-related pension insurance contributions are paid to a pension insurance company.
- Accident insurance is paid to an insurance company.
- Unemployment insurance is paid to the Unemployment Insurance Fund.
- Group life insurance is paid to an insurance company.
At Tuokko, we ensure that all legal obligations and deductions are fulfilled as part of the process, that statutory reporting is done on schedule, and that employees’ net pay is correct. If you need help with employer registration or insurer contracts, our payroll service will be delighted to assist you.
Our payroll and HR services in a nutshell
- Production of payslips
- Payment of salaries
- Accounting and payments for statutory vacations
- Reporting of vouchers for payroll accounting
- Statutory reporting (to the Tax Administration and Incomes Register)
- Preparation of salary certificates
- Calculation and collection of trade union dues
- Submission of payroll data for KELA (Social Insurance Institution) reimbursements
- Reporting of statutory statistical data
- Local contact person for payroll matters
High-quality, personal service in payroll and HR matters is guaranteed by a expert designated for your company. We are here to help you — contact us to explore your service needs in more detail!