Payroll services refer to the services relevant to determination of amount of money paid by a company to its employees for services rendered by them. Payroll is a sum of earnings reduced by the amount of deductions. It plays a vital role in a company since good employee morale calls for the need of timely and accurate payment to them
Under the Employment Act, companies must pay their employees correct salaries within 7 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. 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.
Our Payroll Management Services include:
- Salary calculation on a 7-day, 14-day or 30-day basis.
- Payment of salary to employees by cheque issuance or through bank transfer such as GIRO.
- Central Provident Fund (CPF) registration and monthly payment that is always timely
- Issuing of IR8A Form for personal tax (includes 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
If Accounting is the language of your Business. We are always happy to help. Call Us.
At FINOVA, we look forward to speaking with you. Whether it is routine or an urgent accounting assignment, we take the time to analyse and understand the issues of your organization. Simply fill in your details in the form regarding our outsourced payroll services and we will get in touch with you as soon as possible. Or call us at +65 63270620.