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 clients with a Payroll Management Service since 1998. Our payroll specialists are well-trained and equipped to process even the most complex payroll account with our advanced payroll software system. 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 Service, 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 the following:
- Salary calculation on 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.
- Computing gross to net salary and CPF
- Providing payroll reports and payroll journals
- Issuing confidential pay slips (hard copy or electronic)
- Preparing year-end lR8A forms and appendices (hard copy or electronic)
- Preparing IR21, GML, NS MUP, CPF refund, government statistical forms, etc
- Managing and administering employees’leave On line/Off line
Human Resource Services
- Hiring, New Employee and Exiting Employee Administration
- Drafting of Employment letters
- Employee insurance
- General HR consultancy services
- Salary bench marking
Interested in outsourcing payroll management?
As part of the Rikvin Singapore Payroll Service, your dedicated account managers will take care of all your payroll needs, from set-up to support. Call us at +6563201888 or email firstname.lastname@example.org to let us know how we can help you manage your payroll. Get a Quote