Payroll Services

Processing payroll, especially for small business, can certainly be considered a burden for most business entities.  The risk of miscalculations impacting directly the staff, can cause business owners and managers some serious headaches.  By outsourcing the payroll to us, these issues can be avoided.  The complexity of both software and expertise involved in payroll processing is best left to experts in most cases. In Singapore, like anywhere else, outsourcing the payroll process to a professional team can also be cost effective with all aspects considered.

We promise our clients to listen to their specific needs and wants.  Not every business requires the same services and by discussing with an expert, you will have more insights on how the legal requirements inter-relates with your organization’s policies and hence consider more thoroughly when outlining your requirements. We will tailor a unique solution for your payroll requirements and give you the best advices on how to proceed, without you having to worry about any of the processes.

Paying employees on time and in an accurate manner is one of the most important monthly mission for every business entities.  Keeping your employees happy will determine part of your success as a business.  Many firms decide to outsource payroll and hand over this delicate responsibility to a payroll services provider like ours who will diligently work this process for them.

Among the services, you can enjoy our assistance on newly hired payroll processing, termination payroll processing, computation of the overtime your employees clocked as well as the CPF (Central Provident Fund) contributions from both the employees and the employer.

The payroll services offered not only includes the monthly payroll management (calculations based on your firm policies as well as statutory requirements) but also the services to upload the necessary electronic instructions or submissions to your financial institution for salary distribution and / or the CPF Board.

On top of that, Back Office Consulting also helps you in the yearly Auto-Inclusion Scheme (AIS) submission to report the yearly remuneration of your employees, as required by Inland Revenue Authority of Singapore (IRAS) as part of our services.

Finally, payroll reporting is certainly a key element of management and requires great attention to details when performed.

Other than businesses with absolutely no staff, payroll processing is no doubt a must for all businesses not matter what size they are.  Now, your firm might not require all services in payroll and you can certainly select the options that are the most valuables for you.

If the services were to be performed in-house, they require a very close relationship and excellent communication between the human resources and the finance department. However, this is easier said than done, that’s why a large majority of businesses opt to use services like the ones we provide.

There are so many facets to be aware of when processing payroll and our experts are well-equipped to tackle them.  To keep up with an accurate payroll management, it’s essential to know the laws and requirements inside out and keep abreast to the frequently updating regulations.

For instance, Section 20A (c) of the Employment Act indicates an important method for the incomplete month’s work calculation which a surprisingly high number of employers are unaware of.

Another example would be the fact that most employers did not realize that they should comply the 44-hours work-overtime and other rules, according to the Employment Act, section 38 (6) (a) and the guideline from Ministry of Manpower (MOM).

Do you even know that part-time employees entitle to annual leave and sick leave? If you don’t, you are just another normal employer that form 80% of the employers in Singapore. The MOM’s guideline clearly stipulate these are compulsory and leveraging on our expertise, you can substantially reduce the risk of being penalized for failure in legal compliance.

Looking now closer at the taxation on salary, this crucial part of payroll can also be a hassle. Several tax regulations in Singapore are particular and all employers must notify the IRAS and seek tax clearance for their foreign employees (or partners in some occasions) by filing form IR21 one month before the date of departure.

In certain circumstances, information submitted for IR21 can determine if an employee is required to pay heavy tax as a non-tax-resident or a lenient tax as a tax-resident. You can help your employee to remove the unnecessary burden by sharing our pool of expertise.

Most importantly, we will make sure that all is done in order so to avoid any issues pertaining to tax and payroll that go hand in hand.  (Please refer to Taxation Services section for more information)

So as you are already aware, but been reminded here, payroll services involves time, and dedicated management of software and resources.  As you are impacting your employee’s wallets and families, you certainly want to outsource your payroll processing function to us and let us take care of it all for you.