The year 2024 is coming to an end, and there are still some important tasks that, as an employer, you should address to be well-prepared for the coming year.
To ensure a smooth year-end closing and a structured start to the new year, here is a list of all essential to-dos:
- Data Review and Updates for Employees and Employers: Carefully review all personal information for your employees as well as your own details as an employer, such as addresses, contact information, and marital status, to ensure this information is up-to-date and accurately recorded in the system.
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- It is particularly important to ensure the accurate recording of your employees' addresses, as essential documents, such as the confirmation of the 5% withholding tax deduction from the compensation fund, are sent directly to them in the first quarter of the following year.
- Recording and Payment of All Worked Hours: Make sure that all hours worked by employees in 2024 are fully and accurately recorded in the system. Don’t forget to pay these hours and monthly salaries by January 10, 2025.
- Review Standing Orders for Current Contribution Rates: Keep in mind that social security contributions may change for 2025. Therefore, check the amount of your standing orders and adjust them as necessary to reflect the new rates.
- Ensure Sufficient Balance and Subscription Fees for January: Verify that the balance, including 2025 subscription fees for January payroll processing, is sufficiently funded, and top it up in time if necessary.
- Termination of Inactive Contracts: If there are any inactive contracts in the system that are no longer in use, please terminate these immediately.
Attention! If payrolls are not settled by January 10 2025, additional costs for late declarations may apply, starting at CHF 120.
By taking these points into consideration and completing them early, you establish a solid foundation for the new year and promote smooth management of your accounts.