Payroll Employee Benefits
With Square’s online payroll services, as well as Team Management's paid subscription service, Team Plus, you can enroll your employees in benefits or add your existing benefits to Payroll.
Integrated Benefits
Square Payroll and Team Plus both offer integrated benefits within the Benefits tab of your online Payroll dashboard. These benefits are simple to set up and automatically sync with Payroll. Square Payroll currently offers integrated benefits for:
Add Existing Benefits
If you already offer benefits to your employees, you can add taxable benefit deductions and contributions on your Payroll employee’s profile. Square Payroll and Team Plus currently support these benefit types:
Health Savings Account (HSA)
Health Insurance (Section 125 Plan)
Flexible Spending Account (FSA)
Dependent Care Flexible Spending Account (FSA)
Simple IRA
401K Retirement Plan
Roth 401K Retirement Plan
403B Retirement Plan
Roth 403B Retirement Plan
457(b) Deferred Compensation Plan
Roth 457B Deferred Compensation Plan
Roth IRA
On-Demand Pay
In select states, eligible employees can be given the option to access a portion of their wages early with On-Demand Pay Employees can choose to access their earnings before pay day by sending their funds to Cash App for free or to a linked debit card or direct deposit bank account for a 1.75% fee. When your employees clock out, they will receive an email with a summary of their hours worked and wages earned for that shift and along with the amount of funds they are able to access early.
Read the On-Demand Pay FAQ for additional information.
To read more about tools to formalize and grow your business, check out the Employer Launchpad. |