Payroll processing can be complicated if you are not familiar with the local labour laws, it can be challenging for an employer to keep up to date with the frequent changes in employment regulations. By outsourcing your payroll functions to Aspri, you can be assured that your company will stay compliant and your employees will be paid on time, every time.
Setting up the
Payroll Management System
This is a one-off exercise to import your employee data and set up the payroll system according to your Company’s requirements i.e. the type of compensation, benefits and leave policies. The scope of work includes:
Collection of employees’ personal data and input into the payroll software.
Setting up the benefits, allowances, remunerations.
(fixed salary, hourly or daily rated, time-based compensation, bonuses, and commissions)
Discuss and agree with Company on information and documentation flow.
Registration with CPF Board (for new Company/Employer).
Monthly
Payroll Administration
We will carry out the salary calculations, statutory contributions (such as CPF, CDAC, MBMF, SINDA) for all your employees and send you the payroll report for your confirmation and approval. The monthly payroll work includes:
Maintaining payroll files for each employee
Processing overtime payments, bonuses, leave-in-lieu, no-pay leave, and any expense claims
Preparation & submission of any ad-hoc statutory claims such as National Service, Maternity, Childcare, and IR21
Salary payments to employees via Bank Giro transfers
Issue of payslips to employees
Maintain the Leave Management System for application and approval of leave
Generating CPF, FWL (Foreign Worker Levy) report
Generating a Standard set of monthly payroll report, Leave Analysis report, and Bank Payment Listing
Year-end
Payroll Administration
After the calendar year-end, we will prepare the IR8A forms
for each of your employees. The year-end work includes:
Preparation of IR8A, IR8S, Appendix 8A (for benefits in kind) and Appendix 8B (for stock options) for each of the employee.
Registration of eligible employers for the Auto Inclusion Scheme (AIS) and providing required information to IRAS at the end of each calendar year.
Generate Annual Leave record by employee for Management.
