Payroll Services

There are a lot of things to think about when starting up a business and this includes managing the payroll of your employees. If you lack the resources to handle this task, engaging payroll services can be a great alternative!

Payroll Services

There are a lot of things to think about when starting up a business and this includes managing the payroll of your employees. If you lack the resources to handle this task, engaging payroll services can be a great alternative!

What is Included in Payroll Services

Payroll services consist of the following:

  • Collecting your business’s wage and hour information 
  • Electronic administration of employees’ leave and expense claims
  • Computing employee salaries and Central Provident Fund (CPF) contributions
  • Printing and delivering of checks
  • Providing management reports
  • Preparation and submission of IR8A, IR21, NS MUP, CPF refund, and any government statistical forms

Benefits of Outsourcing Payroll

While it is mandatory for almost all businesses in Singapore to be audited, undergoing this process can provide certain additional benefits.

Potential time saved

Processing payroll often demands time and attention to detail.

By outsourcing payroll, you’ll have more time to handle pressing business priorities such as serving your clients promptly.

Potential time saved

Processing payroll often demands time and attention to detail.

By outsourcing payroll, you’ll have more time to handle pressing business priorities such as serving your clients promptly.

Mitigate payroll errors

Engaging payroll services can help ensure more accurate and timely computation of employees’ salaries. 

Accuration calculations of tax obligations will also prevent any fines or penalties incurred, saving any unnecessary costs. 

Regulatory Compliance

Payroll processing can be complex when computing donations to funds such as Singapore Indian Development Association (SINDA),  Mosque Building and Mendaki Fund (MBMF), Eurasian Community Fund (ECF) and Skills Development Levy paid to SkillsFuture Singapore Agency.

At Podwerx, our team of experts will ensure your payroll process stays on top of any changes in the law.

Regulatory Compliance

Payroll processing can be complex when computing donations to funds such as Singapore Indian Development Association (SINDA),  Mosque Building and Mendaki Fund (MBMF), and Eurasian Community Fund (ECF). 

At Podwerx, our team of experts will ensure your payroll process stays on top of any changes in the law.

What is the Payroll Process like?

Collection of Company Data

You’re required to provide all relevant data, including information on your overtime work policies, staff benefits, salary adjustments, claims, and loans.

Processing of Payroll Documents

We’ll then review and analyze your data and thereafter, compute the relevant salaries, benefits, and taxes on your behalf.

Payment of Salaries and Taxes

Salaries and benefits will be disbursed on time together with CPF and other statutory payments. Reports will also be provided for your reference.

Payroll Service Plans by

Podwerx

1 – 3 Employees

$150/Month

Add on employees $30 per employee

Add on leave management $5 per employee

Add on overtime calculation $20 per employee

4 – 6 Employees

$250/Month

Add on employees $30 per employee

Add on leave management $5 per employee

Add on overtime calculation $20 per employee

7 – 10 Employees

$300/Month

Add on employees $30 per employee

Add on leave management $5 per employee

Add on overtime calculation $20 per employee

Why choose Podwerx?

Multi-disciplinary team of experts

Our team of professionals comes from various backgrounds such as accounting and preparing taxes. We are hence confident in ensuring timely payment of your employees’ salaries as well as the relevant CPF and tax contributions.

Multi-disciplinary team of experts

Our team of professionals comes from various backgrounds such as accounting and preparing taxes. We are hence confident in ensuring timely payment of your employees’ salaries as well as the relevant CPF and tax contributions.

One-stop service provider

At Podwerx, we always believe in finding the right services to match the needs of your business. Other than basic payroll services, you can also engage us for any other accounting, tax advisory, and corporate secretarial services.

FAQs

What are examples of payroll costs?

Other than salaries and wages, the payroll costs incurred would consist of CPF contributions and donations to funds such as SINDA, MBMF, CDAC and ECF. 

Other costs would also include the Skills Development Levy as well as withholding taxes

Can I do payroll myself?

Absolutely! Anyone can handle the payroll process and doing it yourself has some perks such as more control over the process and hence, the ability to review and correct information quickly. 

However, as your business grows and more employees are onboard, your payroll becomes more complex. Rest assured that with Podwerx, your employees and taxes will always be paid accurately and on time.

What are the types of payroll solutions?

There are 3 main types:

  • Time and attendance: This involves tracking the number of hours each employee works including absences, sick days, or off-days.
  • Tax services: This involves calculating and recording the amount of taxes to be paid.
  • Paycheck services: This involves sending out the actual payment bank transfers.