Payroll outsourcing services continues to be valuable for companies primarily because payroll does not help your business to grow, yet it requires time and effort to work on it. In addition, mistakes or unintentional non-compliance on your payroll execution may can create backlash on your employee morale and result your company in complications with Singapore’s Employment Act.
Below are 4 key reasons why many other companies decide on outsourcing their payroll:
If your in-house payroll personnel shares about how much another colleague is making, that can cause extreme workplace drama. The person may also feel unfair over how certain payouts are decided by the management.
Small business owners aren’t experts in navigating Singapore’s tax regulations. At the same time, they are legally responsible for any cases of misrepresentation or a failure to accurately report employment taxes
Keeping track of benefit deductions, garnishments, new hires and terminations, paid time off as well as regulation changes can be frustrating tasks.
Even with long time trusted employees, there is always a risk of identity theft or tampering with company files for personal gain. Do you have the time to closely supervise your payroll for unethical activities?
Get an Accounts Manager who works with a team to deliver on your payroll needs:
Organise employee data into single source through HRMS set up and adapt processes for digital management of HR administration.
View, apply and approve leave, claims and benefits anywhere, anytime through cloud application.
Process employee’s benefits and claims to ensure it is aligned to company’s practices and MOM regulations.
Complete monthly and ad hoc payroll with overtime calculations. Providing payroll reports and for Management and Accounting purposes.
Generate and submit monthly Central Provident Fund (CPF) payment files.
Prepare and submit government related forms such as government paid childcare leave and maternity leave, NS Make Up Pay claims, CPF refund.
Complete government survey on company’s manpower (e.g. labour market survey).
Prepare and submit Auto-Inclusion Scheme (AIS) with IRAS. Issuing of IR8A Form for personal tax (includes annual filing returns).
File IR21 for tax clearance for work pass holders.
Limited Time Offer – Till 31st December 2021
We power up your payroll with HREasily, the one-stop HR software for companies. Your employees would have access to their payslip, apply for leave and claims and get supervisor’s approvals all at their finger tips.
Already have a HRMS in place? Worry not. Our seamless migration process guarantees you a 3 working days time to get HREasily up and working with all employee data ported over.
Align Group is the trusted HR business consultancy and partner to growing enterprises, transforming traditional HR that focuses primarily on administration to one that impacts the purpose, people, and profits of companies.
and profits of companies. We are also an appointed pre-approved HR Shared Service Service Provider under SPRING Singapore (now known as Enterprise Singapore) and has been providing outsource HR and payroll services since 2015.
If you need a comprehensive HR Project to scale up your HR functions, check out our HR Consultancy Services. Alternatively, explore your employee’s engagement levels and pinpoint your efforts and resources on improving areas that matters the most to your employees using our Workplace Happiness Survey.
Book a free demo today