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WHAT IS CO-EMPLOYER PAYROLL SERVICES?
Tracy Stein Management Services, Inc. (TSM) will represent either consumer or parent and assume all and fiscal duties with respect to payroll and mandatory employee files.
TSM provides Co-EmployER with all required payroll forms including:
- Employment Application
- Release for Criminal Background Check (Release Authorization)
- IRS W-4 (PDF)
- Department of Justice I-9 (PDF)
- Confidentiality Agreement
- Mandated Reporter
- Time Sheet Instructions with Sample Time Sheet
- Semi-Monthly Payroll Processing Calendar
- Blank Time Sheets
- Employee Change Sheet
- Employee Handbook for Distribution to all Employees
- On Duty Meal Period Agreement (Optional)
- Employee Direct Deposit Application (Optional)
TSM takes on the responsibility to:
- Process Payroll twice a month
- Verify that all time cards are calculated correctly
- Ensure that overtime is calculated correctly
- Verify all withholdings, filings, and deposits of both employee and employer payroll taxes. Any federal/state penalties assessed for failure to withhold the correct amount and/or
timely filing and depositing will be paid by Tracy Stein Management Services, Inc..
- Offer employee a choice of a traditional paper check, direct deposit into their bank account or access card.
- Process all quarterly and annual payroll reports with the state and federal government.
Pricing for Co-EmployER Payroll Services
TSM shall act as the Employer of Record for direct service worker selected by the Co-EmployER. Rate for this service will be the hourly rate selected by the Co-EmployER
plus 43%. The 43% is arrived at by taking hourly wage paid times hours worked plus 12% State & Federal employer taxes, plus the workers compensation premium billed to TSM by State
Fund which can fall between the ranges of $ 20.24 to 16.59 per $100.00 dollars paid plus the 10% processing fee billed by TSM.
Monthly Reports
TSM Provides co-employER with a report for each pay period summarizing payroll and fees.
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