What is Payroll?
A payroll service offers services such as employee’s right from hiring, calculation of salaries, employment, insurance, and human resource management. A payroll in Singapore for each employee contains their salaries, worker wages, taxes, and the charges of temporary labor. The payroll service can also pay employees according to the different time requirements such as daily, weekly, and monthly salaries.
Payroll Outsourcing Services in Singapore
Registering your company in Singapore is very profitable because it has very stable and low corporate tax rates in the Asia region. However, when setting up a company, one must consider all the HR work that needs to be done, such as processing Singapore payroll. That is why newly incorporated firms should consider HR shared services. It is not easy due to all the guidelines set by the Ministry of Manpower (MOM), but luckily, there are many proficient payroll outsourcing services in Singapore. They are not only highly competent in settling payroll in Singapore but also have reasonable rates.
Why outsource Singapore payroll?
The main reason for payroll outsourcing is that it saves your time and money. It’s more secure, and it reduces the costs, avoids penalties and technology headaches. So, if you are interested in growing your business with complete peace of mind and enhanced security, you must consider employing payroll outsourcing services. They can provide benefits such as:
- Assisting the company directors in managing the employees of the company, monitoring the relationship with the employees to carry out activities for the organization.
- Handle employee relations smoothly, resulting in an efficient workforce.
- Supporting multiple administrative tasks in the company to help the business to grow. It can also provide additional services and support outside of Singapore payroll, which can fit the needs of the business.
- Guarantees that the company and business can operate without any legal issues.
- Assist the organization in ensuring that all the rules and regulations are followed according to the Singapore labor laws.
Duties of a Payroll Singapore Service Provider
When you engage in a payroll Singapore service provider, the company responsible takes over all payroll-related duties, consisting of:
- Preparing checks and salaries for workers and employees.
- Manages the attendance of workers and employees.
- Handles all the insurance payments of employees.
- Arrange the paperwork for the workers and employees according to the local law.
- Provides human resource administration.
- Handles all the tax obligations.
- Provides salary report management.
- Makes the compliances to the legal and local regulation.
- Planning the holidays of employees and workers.
How a Payroll Singapore Service Provider can help you and your employees:
- Your employee’s obligations are met in a professional and timely way.
- It removes the pressure of hiring the employee in a foreign land as the service filter candidates engage the best person for your company.
- The Singapore payroll service provider follows all the legal procedures for introducing a candidate into the company.
- The Singapore payroll service provider allows you to work across the boundaries actively. The service allows your business to hire employees across borders without any difficulties.
- You can hire your employees very easily without any hassle while following all the regulations and employee obligations.
- Employee regulations such as work hours, basic wages, taxes, insurance, pension, and funds, are followed according to the local law.
- The Singapore payroll service provider saves your time and budget, and it simplifies administration.
Note that the employee regulations differ from country to country, depending upon the operations and industry of the business.
Why Outsource to a Payroll Singapore Service Provider?
In today’s world, many companies would prefer to reduce their costs and strive for productivity. Hence, they are relying on payroll Singapore service providers to enhance their process. The main reason why businesses are going for payroll outsourcing in Singapore is that it offers a valuable alternative that is less expensive and hassle-free. Selecting the best payroll service provider in Singapore for you will greatly improve your company’s productivity and let you focus on expanding your business.
The process of payroll preparation takes a long time and it is very complicated, especially when you are new in the field. Having an expert to guide you will make processing payroll in Singapore a smoother and stress-free experience.
Most importantly, the fees for payroll outsourcing in Singapore are the net price, there are no hidden fees such as year-end processing fee or printing fee, etc.
If you are interested in employing payroll outsourcing in Singapore, all you need to do is to let the service company know about your needs and requirements. Payroll outsourcing companies in Singapore can save a lot of money and time. Their effective management of payrolls plays an important role in maintaining the relationship between an employee and their company and meeting regulatory requirements.
WLP group has many professional consultants that can help process your payroll in Singapore efficiently, and we are confident that we can help your company in any payroll or HR matters. If you have any general inquiries, contact us for obligation-free help today!