T10, C-Forms & R4 Reports: A Payroll Compliance Guide for Sri Lankan SMEs

As a small to medium-sized enterprise (SME) in Sri Lanka, navigating the complex landscape of payroll compliance can be daunting. Three key forms that SMEs must contend with are the T10, C-Forms, and R4 Reports. In this guide, we'll break down each form, discuss compliance requirements, deadlines, penalties for non-compliance, and most importantly, how Gallery HR's software can help automate these processes.

T10: What You Need to Know

• Form T10 is used to report employee earnings and taxes withheld for the year.
• It must be submitted to the Inland Revenue Department by September 30th each year.
• Failure to comply can result in penalties and fines.

C-Forms: Understanding Your Obligations

• C-Forms are used to report employee details and salaries to the relevant authorities.
• These forms must be submitted quarterly, with deadlines in January, April, July, and October.
• Non-compliance can lead to penalties and fines.

R4 Reports: Simplifying the Process

• R4 Reports are used to report employee details and earnings to the Employees' Provident Fund (EPF) and Employees' Trust Fund (ETF).
• These reports must be submitted monthly, with a deadline of the 15th of each month.
• Late submissions can result in penalties and fines.

Compliance Requirements and Deadlines

• All three forms require accurate and complete employee data, including names, NIC numbers, salaries, and taxes withheld.
• Forms must be submitted on time to avoid penalties and fines.
• Employers must maintain records of all forms submitted for audit purposes.

Penalties for Non-Compliance

• Late submission of forms can result in fines and penalties.
• Inaccurate or incomplete forms can lead to additional fines and penalties.
• Repeated non-compliance can result in severe penalties and fines.

How Gallery HR's Software Helps

Gallery HR's payroll software is designed to automate the process of generating and submitting these forms. With our software, you can:

• Easily generate accurate and complete forms with just a few clicks.
• Set reminders for upcoming deadlines to ensure timely submission.
• Store all form submissions in one place for easy record-keeping.
• Reduce the risk of errors and non-compliance.

By using Gallery HR's software, SMEs can simplify their payroll compliance processes, reduce the risk of errors and non-compliance, and focus on growing their business.

 

Don’t miss this opportunity to upgrade your HR operations and join the growing list of businesses in Sri Lanka achieving success with GalleryHR.

GalleryHR is committed to helping Sri Lankan businesses thrive with smarter, more efficient HR solutions. Partner with us today and experience the difference.

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