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Payroll Services

SINGAPORE PAYROLL MANAGEMENT

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.

PAYROLL SERVICES

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.

SALARY/WAGE

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:

  • The value of accommodation, the supply of light, water, medical attendance or other amenities;
  • Pension or provident fund contributions paid by the employer;
  • Travelling allowance;
  • Payments to defray special expenses incurred in the course of duty;
  • Gratuity paid on retirement or any retrenchment benefits payable.

SALARY COMPUTATION

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:

  • Commenced employment after the first working day of the month;
  • Takes any unpaid leave during the month;
  • Leaves before the end of the month;
  • Is on national service reservist training during the month.

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:

HOW THE PAYROLL MANAGEMENT SERVICE WORKS

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.

OUR PAYROLL MANAGEMENT SERVICES INCLUDE:

  • Salary calculation on a 7-day, 14-day or 30-day basis.
  • Payment of salary to employees by cheque issuance or through bank transfer such as GIRO.
  • Central Provident Fund (CPF) registration and monthly payment that is always timely
  • Issuing of IR8A Form for personal tax (includes annual filing returns)
  • Preparation and submission of the Auto-Inclusion Scheme (AIS) with IRAS
  • Computing gross to net salary and CPF
  • Providing payroll reports and payroll journals for Management and Accounting purposes
  • Issuing confidential pay slips (hard copy or electronic)
  • Access to Leave Management Portal
  • Access to Online Claim Management Portal
  • Access to Online Payslip Portal
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