Timely payment of salary under the Employment Act
Under the Employment Act, companies must pay their employees correct salaries within 7 working days after the end of the salary period. Failure to pay salaries in accordance with provisions of the Act is an offence.
Hence, one of the most important tasks for a business is the timely preparation of payroll and payment of salary. However, this process can be further complicated with additional components such as benefits, allowances, deductions, government remittances, etc. It is of no surprise that consequently many SMEs choose to outsource their payroll function to accounting firms.
We have been providing our Payroll Management Services to a few hundred clients across a wide range of industries, since 1998. Our payroll specialists are well-trained and equipped to process even the most complex payroll account with our advanced payroll software. Our service ensures that government remittances such as CPF are paid on time, tax filing requirements are adhered to, and the payroll information is kept confidential offsite.
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 weekly, bi-weekly or monthly basis.
- Salary payment to employees by cheque issuance or through bank transfer such as GIRO.
- Central Provident Fund (CPF) registration and timely monthly payment.
- Issuing of IR8A Form for personal tax including statutory annual filing returns.
- Preparation and submission of 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)
- Preparation and submission of IR21, GML, NS MUP, CPF refund, government statistical forms etc.
- Access to Leave Management Portal
- Access to Online Claim Management Portal
- Access to Online Payslip Portal
Payroll Management Services
Rikvin Payroll Process
Rikvin Payroll Cycle
Payroll Management Services – In-house, Cloud-based Proprietary Software
The latest inclusion to our Payroll Management Services offering is a powerful in-house and cloud-based Payroll Management Software. Our proprietary software alleviates the administrative burden of managing complex payroll activities with features and services that enable you to gain control of payroll. Specifically, this Payroll Management Software offers:
- Customisation: Easily brand the software with your company logo
- Scalability: The software is scalable to any organisation structure and can accommodate any number of employees
- Employee Access: Employees can access their payslips, timesheet, leave management and claims independently
- Easy Compliance Management: Singapore Ministry of Manpower (MOM) regulations and all statutory deductions-related calculations are in-built, making processing of payroll requirements, whether simple or complex, straightforward
- Leave and Attendance Management: Leave and time sheet management modules can be integrated with your existing biometric processes
- Access Controls: Managers can approve leaves, claims and timesheets based on a mapped approval matrix, ensuring access and information control across different employee groups
Human Resource Services
- Hiring, New Employee and Exiting Employee Administration
- Drafting of Employment letters and contracts
- Employee insurance
- Salary benchmarking
- Staff training
- Work visa applications
- MOM Audit assistance
- General HR consultancy services
Save time and reduce costs by outsourcing your payroll management
Payroll management can be a breeze with our game-changing Payroll Management Services and Payroll Software. Be served by a dedicated Payroll specialist when you engage our services or software.