Payroll Service
In accordance with the Employment Act, companies are legally obligated to disburse accurate employee salaries within 7 working days following the conclusion of the salary period. Failure to adhere to the stipulations of the Act in this regard constitutes an offense.
The preparation of payroll and salary disbursement stands among the foremost responsibilities for all businesses. The intricacies of this process are compounded by additional components such as benefits, allowances, deductions, and government remittances, making it a time-consuming task. Consequently, it is not uncommon for many SMEs to opt for outsourcing their payroll function to reputable accounting firms.
Our payroll specialists are well-trained and equipped with the most advanced payroll systems to process even the most complex payroll account.
Our service ensures that the government remittances such as CPF are paid on time, tax filing requirements are followed and payroll information is kept confidential at offsite facilities.
Upon engaging T RAVI PRACTICE PAC's Payroll Service, a dedicated payroll officer will be assigned to collaborate with you on your payroll requirements.
Upon receipt of the information and required documents provided by you, your designated payroll officer will meticulously review and organize the submitted data to establish and maintain your payroll ledger. Following your directives, the payroll officer will execute payments and ensure the submission of all requisite payroll taxes.
Our comprehensive Payroll Service encompasses the following accounting functions:
- Accurate salary computation based on weekly, bi-weekly, or monthly pay periods
- Timely salary disbursement to employees via bank transfers, such as GIRO
- Registration and punctual monthly payment of Central Provident Funds (CPF)
- Generation of Form IR8A for personal tax filings, inclusive of statutory annual returns.
This service is designed to provide professional and efficient payroll management, allowing you to focus on your core business activities.
