The Wage Protection System (WPS) requires employers to pay wages through approved banks and exchange houses, with a Salary Information File (SIF) submitted for every pay run. Missing or late filings can freeze new work permits and trigger fines per employee.
The fastest way to stay compliant is to generate WPS-ready SIF files straight from payroll, reconcile them against your bank, and keep an auditable record of every submission. Magnar automates the entire cycle — from calculation to file generation to filing — so compliance becomes a by-product of running payroll, not a separate project.