Payroll solutions

Payroll offers individuals and companies versatile payroll services and contractor accounting along with long awaited tips and tricks for contractors who prefer classical salary payments.

Payment service

Payroll’s payment service includes everything with regards to salaries and if requested Payroll can also undertake payment of VAT, withholding tax etc. as well as general financial statements and other things that are considered appropriate to outsource.

Consultation

Payroll’s employees give the customer consultation regarding anything in regards to salaries, and compensation of employees, collective agreements and other. Also the specialists of Payroll are familiar with the contracting environment.

Payroll Calculator

Here employees and employers can calculate anything regarding salaries and compensations of employees. You can put the criteria into one of the three boxes below.

kr.
kr.
kr.
Wage components Employed person Employer
Statutory pension fund ? 0 kr. 0 kr.
Employee’s premium
%
0 kr.
Employers matching grant
%
0 kr.
Private pension fund ? 0 kr. 0 kr.
Employee’s premium
%
0 kr.
Employers matching grant
%
0 kr.
Insurance fee ? 0 kr.
General insurance fee
%
0 kr.
Unemployment insurance fee
%
0 kr.
Fee to the guaranty fund for bankruptcy
%
0 kr.
Marketing fee
%
0 kr.
Rehabilitation fund
%
0 kr.
%
0 kr.
Accounting tax ? 0 kr.
%
0 kr.
Union ?
0 kr. 0 kr.
Sub union
Membership fee
0 kr.
Health fund
%
0 kr.
Holiday fund
%
0 kr.
Continuing education fund
%
0 kr.
Holiday ? 0 kr.
?
%
0 kr.
?
%
0 kr.
?
%
0 kr.
?
%
0 kr.
?
%
0 kr.
Income tax and municipal tax ? 0 kr.
Step 1 ?
%
0 kr.
Step 2 ?
%
0 kr.
%
0 kr.
Personal tax allowance ? 0 kr.
Your personal tax allowance
%
52.907 kr.
Spouses’ tax allowance
%
0 kr.
Untapped personal tax allowance
kr.
0 kr.
Untapped spouses’ tax allowance
kr.
0 kr.
Total: 0 kr 0 kr
Result
Total wages 0 kr.
Take-home pay 0 kr.
Employers total cost 0 kr.

Disclaimer: Results from the calculator may be subject to errors.

FAQ

Outsourcing of salaries and calculations

 

Payroll’s specialists administer the calculations of salaries for a number of customers each month. Included in the administration of salary calculations is everything in regards to calculations of salaries and related fees as well as submission of monthly and annual reports to the authorities, pension funds and unions. There is much focus on digital communication when submitting and publishing information f.ex.  payment slips in the employees’ online banks.

When it comes to calculations of salaries it is important that the latest laws and regulations are applied regarding taxes, fees and wage agreements.  Payroll has invested in expertise and software so it is always possible to provide the best service in the field of payroll administration at any given time. With outsourcing of salaries to Payroll, security is ensured in management of sensitive information.

 

Administration of contractor accounting

 

The employees of Payroll have many years’ experience in the administration of contractor accounting for companies. Among other, extensive projects for foreign film producers in Iceland such as Paramount, Universal, 20th Century Fox and others. These projects have the common factor that they are short term and include hundreds of contractors that issue thousands of invoices that have to go through approval process and the payment system of Payroll. Included in the service is negotiations and writing of contracts, receiving and checking of time reports, post creditors accounting, payments, reports to buyers and sending of contractor payment slips annually.

This service is suitable for those who supervise big events for example conferences, seminars, exhibitions, concerts and other.

 

 

Outsourcing of salaries and calculations

The employees of Payroll administer each month calculations of salaries for a number of customers. In administration of salaries everything is included as for calculation of salaries and associated fees as well as submission of monthly and annual reports to the authorities, pension funds and unions. There is much focus on digital communication when submitting and publishing information f.ex.  payment slips in the employees’ online banks.

When it comes to calculations of salaries it is important that the latest laws and regulations are applied regarding taxes, fees and wage agreements.  Payroll has invested in expertise and software so it is always possible to provide the best service in the field of payroll administration at any given time. With outsourcing of salaries to Payroll, security is ensured in management of sensitive information.

 

Payroll supervises payments and sends electronically to the customer or the accountant of the customer in question all relevant data due to payments, so it can be entered into the companies’ accounts. Payroll’s employees can assist the customers regarding making payment plans and ensured their execution.

There is no limit to what Payroll can supervise paying.  The payments either come from the client’s account or Payroll’s account which the customer has deposited payments to according to plan.

 

If requested we assist our customers making employment contracts, decisions regarding salaries and benefits, planning contracts regarding retirement and settlement.

 

 

About Payroll

Every month Payroll administers the calculation of salaries for hundreds of employees for a large number of customers. Payroll is the first company of its kind in Iceland but similar service has been available in the neighbouring counties for a long time. Payroll is based on years of expertise of the employees of VIRTUS regarding complex consultation and assistance to individuals and companies in the field of administration of salaries and financial services.

 

Atli Rafn Viðarsson

Sales-and marketing manager
atli@payroll.is

Elísabet Ósk Guðjónsdóttir

Managing director
elisabet@payroll.is

Jóhannes Þór Ingvarsson

Financial manager
Johannes@payroll.is

Steinunn Björg Ingvarsdóttir

Project manager of payroll reps
steinunn@payroll.is

Sigrún Jóhannsdóttir

Service rep
sigrun@payroll.is

Iðunn Arna Björgvinsdóttir

Service rep
idunn@payroll.is

Contact

Open 9:00 - 16:00 weekdays
Skipholt 50d, 105 Reykjavík