In this topic, you will be able to learn about the Singapore payroll process. We will properly provide the guidance to you through the strict regulatory requirements that that will be needed for Singapore employers and at the same time for other main contemplation in payroll management.
Basically managing the payroll is a really tedious process, particularly when your employee's head reckon begins to grow, besides with your business.
This article provides information on the key elements involved in the payroll process and converses the several legislative requirements companies are required to align with.
The Employment Act of Singapore defines “salary” or “wage” as all compensation payable to an employee with respect to his employment, including allowances and bonuses. However, it excludes:
If an employee works for a partial month, he is only permitted to the pro-rata portion of his salary for that part of the month he worked. A partial month is a month in which the employee:
Note that ‘month’ refers to any calendar month in the calendar year. When calculating the pro-rata portion of the salary for an incomplete month, the following formula must be used:
When you engage our Payroll Management Services, you will be assigned to an Accounts Manager who will work with you on your payroll needs. Based on the information and required documents you submit to us, your Accounts Manager will review and organize the information to create and maintain your payroll ledger. He will also, per your advice, make salary payments and submit all necessary payroll taxes.