Payroll

Business Case for Payroll Outsourcing

With the advent of technology, companies are increasingly looking at ways particularly payroll outsourcing to leverage and improve their business efficiency and productivity. In the area of human resource management, outsourcing payroll is one activity which provides a clear benefit in human resource practices. Below are several reasons why companies should consider outsourcing their monthly payroll process. Increasing complex and constantly changing rules on salary calculations In Singapore, employment laws relating to calculation of salary payments, payment process and central provident fund contributions [...]

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New Rules on Payroll Management in Singapore

Payroll Management: Itemised payslips and written Key Employment Terms (KET)s now mandatory when hiring in Singapore with effect from 1 April 2016 Payroll Management rules has been amended by Singapore’s Ministry of Manpower in order to protect the rights of both employers and employees. Key changes include the requirement for employers to provide itemised payslips in payroll of all employees covered under the employment act (EA) together with their salary payments. MOM has announced that they intend to effect these new requirements [...]

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What Is Payroll Management Service?

Type of work involved in Payroll Management Service The payroll refers to a list of employees that are currently being hired and paid for their work by the relevant employer. However, when one speaks of “Payroll Management Service”, they most commonly refer to the administrative menial work involved in managing a company’s monthly payment towards its employees and the relevant calculations involved. This can be quite a demanding task in terms of its time consumption. The calculations involved are intricate [...]

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