This PAYROLL SERVICE AGREEMENT (“Agreement”) is made on this _______ day of ___________, 2023, by and between _______________________ (“EMPLOYER”) and WE PAY Payroll Processing Company.
1. Payroll and tax reporting services are available
Payrollbangladesh is hereby authorized by the employer to prepare and complete payroll processing and tax preparation and payment services. Such as direct deposit and manual checks drawn on certain identified financial accounts, electronic and manual payment of all payroll taxes, and electronic filing of quarterly and annual reports.
2. EMPLOYER Information Accuracy
Payrollbangladesh will provide all services based on information provided by the employer, such as proof of federal, state, and local tax identification numbers; employee names; and employee addresses.
And also Social Security numbers; amounts of payments; dates of payments; identification of accounts into which funds are to be deposit to pay the employer’s employees; payroll; benefits; human resources; and similar information provided by the employer, its employees, or plan participants.
3. Debit Indemnification and Funding
Under this agreement, the employer is accountable for all debits properly initiate by Payroll Bangladesh.
Employer agrees to pay Payrollbangladesh, plus 2% per month interest, the amount of any unfulfilled payroll file (including any debit returned to Payrollbangladesh due to insufficient or uncollected funds or for any other reason).
4. Authorization
Payrollbangladesh is authorized by the employer to begin debit or credit entries to its Payroll Account for the applicable charges related to Payrollbangladesh services; to send or transmit to the employer financial institution a credit entry to an employee’s account to effect a payment from the employer to the employee;
5. Electronic Transfers
The sums shall be apply to the appropriate accounts upon receipt of the electronic funds transfer (“EFT”). Should the the employer bank be unable or unwilling to complete the transaction for whatever reason,
6. Direct Debit
Each employee who wishes to receive an electronic transfer of funds due as wages or salary must sign a Direct Deposit Authorization Agreement and deliver it to the contractor.
7. Termination
Either party may immediately terminate this agreement “for cause,” which shall indicate the other party’s substantial breach of the terms and conditions of this agreement. Except as otherwise provided in this Agreement, any party may cancel this Agreement with thirty (30) days’ prior written notice.
In witness thereof and intending to be legally bound by this agreement, the parties have cause it to be execute as of the first write date above.
EMPLOYEE:
Signature of Authorization
By: _______________________________
(Please print your name)
Title:_____________________________________
Address: __________________________________
EIN (Identification Number): _____________
Payroll Processing Firm:
Authorized Signature: __________________________-
By: ________________________________________
(Please print your name)
Title:_____________________________________
Address: __________________________________
EIN (Identification Number):____________________________
