Singapore Payroll Services
Is an in-house Singapore payroll department eating away into your precious time and money? Perhaps you need help of Singapore payroll services provider firm. Outsourcing the non-core tasks to a third-party firm providing payroll services in Singapore will help you concentrate better on improving your core competencies. These firms for payroll services Singapore include the best programs and software, which ensures correct and accurate payroll processing.
For past several years, SBS Consulting has been dedicatedly and successfully imparting consultation and support to the clients in payroll services Singapore. We assist in processing payment instructions, generating salaries and statutory reports, filing bank payments, and generating electronic pay slips for your employees to view online. Find out more in Our Payroll Services section.
Importance of Timely Payment of Salary
Employment Act has made it mandatory for all the companies to pay the correct salaries to their employees within 7 days after the end of the salary period. If any company fails to do so, that company will be penalized and be held responsible for offence under the employment act.
Considering this aspect, it becomes necessary for businesses to prepare their payroll in time. The payroll process looks easy to handle, but when the factors such as benefits, allowances, deductions, government remittances and many others come into picture, the same process becomes no less than an intricate maze. Therefore, there arises a need for SMEs to choose to outsource their payroll to a payroll services providing firm.
SBS Consulting provides exhaustive payroll services in Singapore. We are the ideal partner for varied company sizes to answer their HR needs. We extend our support to organizations with full range of scalable payroll services Singapore. We accurately and efficiently manage the HR and payroll service related work of your company’s entire work force.
Collaborating with SBS Consulting for Singapore payroll processing proves beneficial to you in several ways. Leaf through the benefits below -
- You get end-to-end payroll services including adjustments, overtime, and other variables
- Your employees get a range of pay slips both, electronic and carbon based hard copy
- You get peace of mind with all inclusive payroll service that deals in statutory compliance that includes report generation and audit management
- You also get year-end tax support which includes IR8A/S as a part of our payroll service
- You are not required to invest in hefty software
- You are not required to recruit a dedicated in-house payroll services and HR department
- You are in peace of mind by simply outsourcing the entire process to a specialized Singapore payroll service provider
When you engage SBS Consulting for your company’s Singapore payroll service, an accounts manager will be assigned to your company, who will closely work with you in addressing your needs and making you understand the latest policies and practices of payroll Singapore.
Our Payroll Services
We will process your Singapore payroll by accurately calculating salaries of your staff on a monthly or weekly basis. The entire process includes salary credits, production of pay-slips and credits into CPF / MPF accounts of your employees.
- Disbursement of correct salary to the employee via online transfer, cash or cheque
- Ensure compliance to the laws pertaining to CPF, SDL and other statutory donations
- Ensure timely submission of CPF and other legal payroll Singapore related documents
Tracking Salary Increments
We will update the Singapore payroll information related to salary increments of your employees. We will also adjust the differences occurred due to salary increase.
- Timely updation of tedious and time-consuming salary variation data is an important part of our Singapore payroll service
- Ability to edit the payroll data quickly as per the changes in the salary of the employees
- Exhaustive Singapore payroll data back-up ensures peace of mind
Allowances and Deductions Management
Maintenance and management of allowances, deductions, arrears, savings, and loans for your employees, is the top priority of our payroll services Singapore.
- Calculation of correct salary, after including all the allowances and deductions
- Computing the salary for new joiners and resigned employees based upon the number of working days registered by them
- Singapore payroll service takes away the laborious task of data gathering and computing
Employee Information Tracking and Maintenance
We will assist in tracking and maintaining data and movements of your employees.
- As a part of our Singapore payroll services, we cipher the exact amount of salary to be disbursed,when the employee has moved to other location, locally or internationally
We will help in calculating monthly overtime, shift hours and commissions payable to your employees.
- Payroll services in Singapore helps to gather precise variables and calculation of accurate salary
- Adjustments made to the tax deductions based on the investments done by the employee
- Provision for including maternity, sabbatical, annual and balance leave calculations
We prepare customized reports for general ledger maintenance. Besides, we also assist in preparing monthly payroll reports and Central Provident Fund (CPF) reports, as a part of our payroll services in Singapore.
We also perform special bonus runs and prepare tax forms, wherever applicable, for IRAS submission.
- Our Singapore payroll services ensure that the reports are generated and submitted on time
- Changes made to the report in case of changes in the employee’s dossier
Benefits of Payroll Services
- One major benefit of outsourcing payroll services to a third-party firm is that, the resources are freed up, which eventually can be utilized for enhancing the core competencies of the organization.
- It takes the routine humdrum tasks like data-entry and compilation, off the shoulders of a company.
- Data of your payroll Singapore will always remain in back-ups files, which buys you peace of mind, since you do not have to worry about loss of data.
- When you engage a payroll service firm, you get compiled detailed reports of the payroll, which can be used for managerial discussions and other decision-making purposes.
SBS consulting is widely acclaimed for offering topnotch payroll services in Singapore. The firm will take care of all payroll needs from start to finish and beyond. Talk to us to discuss your requirements. We will provide you expert services in compliance with the rules and regulations of Singapore government.