Payroll

Payroll

As per the Singapore Employment Act., companies need to pay exact salary to their employees in a timely manner within 7 days after the end of salary period. Upon failure to comply with this rule, companies will either be penalized or will be held responsible for an offense under the Employment Act. Therefore, preparing and dispensing salaries in time becomes all the more important for companies.

Payroll is directly associated with employee compensation. If the system you use to process your payroll has a weakness, it could affect paycheck accuracy. Payroll involves more than simply compensating your employees for time worked, and inaccuracy may lead to consequences other than paycheck errors.

Managing salary calculations and disbursements can be time consuming and costly. Correct payroll processing saves precious time and resources for the organization. By outsourcing your payroll processing, it frees your resources to focus on core strategic business as opposed to operational administrative tasks. It eliminates the need to cancel payments, recalculate and issue manual replacement checks. The payroll department builds trust in its processes, reducing the incidence of employee complaints and grievances. It also can spare the company from legal cases and penalties in case of incorrect remittances for taxes and other payment to third parties.

Biz Vision will help you overcome the complexities and risks associated with sourcing, managing and delivering payroll services. These are the services that we provide:

• Payroll Processing

  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

• Calculating Variables

  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

• Reports Preparation

  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

• HR Services

  Our HR service structure is the friendliest in the industry. We actually tailor them to meet your success.

  • Help in starting your company with right employment terms and policies

  • Day-to-day support for your HR and Payroll needs

  • Assurance that your HR and payroll policies and practices comply with the imposed statutory regulations

  • Additional services like HR transformation and HR crisis management