Becoming certified as a Payroll Compliance Professional (PCP) by the National Payroll Institute (CPA) can open up doors in your career. Employers recognize that a professional with PCP certification has undergone training to help them become qualified. One of the requirements of becoming PCP-certified is taking four CPA-approved courses, one of which is Payroll Compliance Legislation (PCL).
When comparing accounting and payroll administrator programs, you should be looking for those that include PCL. Beyond being essential for PCP certification, the PCL course offers other benefits to payroll professionals. Here are a few reasons why your program should include PCL.
Employers Know That Noncompliance With Payroll Legislation Has Consequences
Being in compliance with payroll legislation is important for most employers and businesses since noncompliance can lead to serious consequences. For example, if an employer fails to deduct income tax, Canada Pension Plan (CPP) contributions, or Employment Insurance (EI) premiums on behalf of their employees, then the Canada Revenue Agency can take legal action, including garnishing wages and seizing assets, in order to collect the amount that is owed along with interest.
It is clearly in the best interest of employers to avoid such a situation, which is why they need payroll professionals who understand the relevant payroll-related legislation. If your accounting and payroll administrator program covers PCL, you’ll be able to give employers and businesses reassurance that you can help them stay compliant with the law.
With PCL, you can reassure employers and businesses about their payroll compliance
An Accounting and Payroll Administrator Course Can Help You Identify an Employer/Employee Relationship
Identifying an employer/employee relationship is an especially important skill to have today in the so-called “Gig Economy,” where freelancers are becoming more common. For many employers, the use of freelancers can help reduce their payroll and tax obligations, but they need to ensure that their relationships with their freelancers do not cross over into an employer/employee relationship.
Fortunately, if your accounting and payroll administrator diploma includes the PCL course, then you’ll be able to help businesses identify if an employer/employee relationship exists. Identifying an employer/employee relationship is important because it has a direct impact on an employer’s EI, CPP, and tax-withholding obligations. For example, if an employer/employee relationship exists, then the employer will typically have to withhold a portion of the employee’s pay for EI, CPP, and taxes. This obligation doesn’t exist for the contracting business, however, if the worker is a self-employed individual.
Learning About PCL Helps Payroll Professionals Communicate With Stakeholders
In PCL, you’ll learn about applying federal and provincial payroll legislation, such as the Income Tax Act, Worker’s Compensation Acts, the CPP, and the Employment Insurance Act. Learning about these pieces of legislation not only makes it easier for you to do your job as a payroll professional, it also helps you establish a better working relationship with your employer or any business that contracts you for your services.
In fact, by the end of your PCL course you will gain the ability to communicate payroll compliance requirements to stakeholders, such as employers and businesses. This ability can help an employer or business better understand what their payroll obligations are and why they exist. Furthermore, such communication skills will help you foster a better working relationship with your employer or business clients, which in turn can help you succeed in your career.
In PCL you’ll learn how to better communicate payroll obligations to employers and businesses
Are you ready for a new career?
Contact Oxford College to learn more about our accounting and payroll administrator course.