Most of Compandben’s income comes from setting companies up with payroll arrangements. Most clients have only one employee and Compandben makes Eur40 per month from the arrangement in return for supervising the ongoing service.
So, for example, in January we have set up
But occasionally we get lucky. A client asked us at the end of December to set up a weekly payroll in the Dominican Republic for 574 employees. He sent the initial e-mail on 12th December 2012 and the payroll started in January.
It was an incredible feat to get the whole thing set up in effectively 3 weeks over Christmas, including all the registrations with social security, tax, insurance – as well as the actual set up of the data, tax tables and employee specific salary programs.
The client is a USA based manufacturing company but the deal was in fact set up through a USA based finance company. I believe the local payroll company is charging just under $3 per employee per pay run.