Payroll Services Singapore
Fees from $75
Minimum 5 employees.
Monthly Singapore payroll outsourcing fees is normally charged based on the preferred subscribed plan or in consideration of the number of paid employees. For customized accounting and payroll services packages, more details can be found at Singapore Accounting Services Price List.
Payroll Outsourcing Services
Payroll services is one solution that SingaporeAccounting.com provide to help every small business and large business on payroll HR matters. Outsourced payroll services not only help to ensure efficient payroll administration, but also compliance to Singapore laws on CPF, SDL and other statutory donations. Advantages and disadvantages of outsourcing payroll services are different for big and small business. One of the advantages is the needs of companies can be customized with our team of experienced accountants and payroll experts. We also provide payroll online services with additional related financial solutions such as accounting and taxation services. Instead of spending valuable human resource and compulsory time on administration work, how about using these quality time to focus on the company management for more income-generating work? SME may wish to decide based on the price list of top payroll outsourcing companies in Singapore. We would strongly encourage business owners to understand and outsource payroll functions to payroll service providers based on expertise, even if it is not to SingaporeAccounting.com.
Which Payroll Management System is best for SME or MNC?
Are you currently doing HR management manually by yourself or are you using any payroll online software for your assistance? Looking for a good payroll software with cpf contribution calculator functions? You can research the best recommended list from the top payroll outsourcing firms. Otherwise, you can also perform Singapore payroll service cost comparison to decide which payroll system method is most suitable for SME or MNC. Technology advancement has made it possible for us today that the process to create and update company employee record is now less time consuming and error prone with system solutions compared to handwritten paperwork. With cloud based payroll management system, we are able to access them online where the reports can be processed and exported to your desktop anytime and anywhere conveniently for your business needs. Some comes integrated with cpf contribution calculator as well. It is one of the best practices to have a backup of your payroll accounting. Most of the systems are secure and have auto backup features to save extra copies of your documents in the server so there is less fear for loss of data than if you stored it in your personal computer. They also provide many time saving features such as updating the relevant fields in the records of your employees automatically and you can use it to file taxes especially if they are also Iras compliant payroll software.
However, although the processing time is relatively shorter, you are still required to spend a considerably fixed amount of time every month on these less productive payroll administration work in verifying man hours, preparing the payslips and ensuring your employees are paid on time. If payroll service is not outsourced, you are also required to spend extra hours apart from your business main activities to learn how to operate the software. This is in order to make full use of its time-saving payroll bookkeeping capability, backup your documents. You would need to contact the software company support service for help in troubleshooting and resolving the errors yourself. As competition arises among these payroll systems, you might want to switch to new payroll system especially if they can provide more value-added solutions at lower subscription cost. Hence you would have to repeat the whole process to spend extra hours to adapt, re-learn the functions of your new payroll online system to ensure the program match your business payroll format and check with Iras payroll officer for compliance on filing forms ability as a result of not outsourcing the services.
Reporting Employee Earnings With Paper Form Filing
Time is usually the busiest at year end with extra workloads in preparing for company tax reports. Before 1st march every year, employers are required to prepare and distributes the employment income information for all their employees in hard copy to file their tax returns. Form IR8A is needed for reporting employment income and employers have to file Form IR8S, Appendix 8A and Appendix 8B if applicable. This is a mandatory requirement by law, S68(2) of Singapore Income Tax Act. The filing can be done either through hard-copy paper form, electronic form online or simply handled by your appointed payroll outsourcing company.
Auto-Inclusion Scheme for Employment Income
Singapore payroll services include helping companies who are participating in auto-inclusion scheme (AIS) for employment income, to prepare and e-submit the electronic forms online to IRAS. In this scheme, it is not required for employers to distribute the hard copy forms to your employees as IRAS would include the information automatically in their tax returns and assessments. In cases of amendments, we would assist to prepare and submit an amendment file by 31st March yearly.
Why Outsource Your Payroll?
The main benefit of outsourcing your payroll function to SingaporeAccounting.com Pte Ltd is to ensure you would have more time to concentrate on your business development. Outsourced payroll services help to reduce risk of getting fined for not being in compliance with the legislation due to the complex components of payroll system. Our expert consultation team are based in Singapore and can support your organisation with detailed examination on your past and present year record for any errors regards to salary calculation and expense claims that will affect business performance.
HR Payroll Management For SME
Arrangement can be made if accountants or payroll assistant are required to work in the offices to manage the payroll of your organisation. This need to be discussed with your payroll service provider. Besides taxes and submission to CPF Board, all employers need to pay SDL or Skills Development Levy System of minimum $2 to maximum $11.25 for all of their employees as well (subject to changes). The SDL payable is currently calculated at 0.25% of employee’s monthly salary or employers can use the sdl calculator online for the computing. For SMEs or MNCs, most payroll outsourcing singapore companies can take care of all the necessary payroll processes. We will maintain individual file for each employee to payment of salary to your employees on your behalf. The most updated payroll management software is used for efficiency and assurance that the payroll records companies received are always kept up to date where you can access them online anytime and anywhere at home or in your office conveniently. Effective online payroll management can help prevent unnecessary costs.
Types of Payroll Management
Your business operational costs and performance can be affected with mismanagement of expenses, claims, ad hoc payments or employees taking leave too frequently. Payroll processing will be based on company’s payroll policies and procedures that includes payroll basic details such as salary, overwork time hours, company bonuses, commission and claims. Company salary advance form can be generated and processed to employees if salary advance policy is fulfilled. Various types of leaves such as annual leave, sick leave, childcare leave, maternity leave, paternity leave will be recorded where you can perform payroll queries easily to manage and approve the leave request of your employees.
Payroll outsourcing solutions with consistent follow-up services from Singapore Accounting can only prove to be more beneficial to employers. We will be able to take over the entire payroll administration work and submit forms to Iras for you. Our familiarity with the Singapore employment regulations and best practices would ensure not only do all your staff gets paid on time but your payroll processing matters will be in compliance with Singapore Employment Act. All employers are now required to issue itemised payslips to their employees under the Employment Act with effect from 1 April 2016. Our consultants can further advise employers on schemes such as Special Employment Credit or SEC if they hire Singaporeans who are above 50 years old or persons with disabilities. Employers will be updated if there are changes in yearly Singapore Budget. By re-adjusting company strategies from managing the full administration process to spending time only analyzing payroll reports now, you can now gain more business resources simply by outsourcing payroll administration to SingaporeAccounting.com from fees as low as $15/ employee today!