What does it mean to pay wages on behalf of others?

1. Interpretation of paying wages on behalf of others: It is a financial intermediary business in which professional institutions pay labor remuneration for government agencies, enterprises and companies.

2. The service feature is that the bank pays money, saving time and effort. Centralized payment is safe and fast. Simply put, it saves time, effort and money. In particular, some foreign branches and offices are unable to pay their own wages and taxes. This will directly affect the welfare of employees. Outsourcing can solve this problem.

3. An application shall be made by the unit that needs to pay wages. After consultation with financial institutions, the unit that pays wages shall fill out the entrustment agreement on paying wages, and the financial institutions shall pay wages to employees in a centralized and batch manner according to the requirements of the applicant.

4. Financial institutions make batch and centralized payments through their own networked core business processing systems, automatically transfer relevant wages and other funds into bank cards or personal settlement accounts agreed by depositors in advance, pay wages on behalf of enterprises and institutions, and pay social welfare insurance benefits on behalf of the Social Security Bureau.