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Payroll Service Faqs

What type of payroll services provides to its clients?

Payroll experts at calculate salaries/ wages of your staff on a monthly/weekly basis. It also includes generating pay-slips, handling salary credits and credits into CPF/MPF accounts of your staff. Under this service we record and update employee information, status of salary increments and salary deductions. We also prepare monthly payroll reports and Central Provident Fund (CPF) reports for your company.

What are the benefits of outsourcing Payroll function?

When it is pay-day finance and HR department of your company needs to coordinate and deliver the goods. Payroll management is a time consuming task; it involves maintaining for how many days an employee was present or how many leaves he or she took and information related to benefits offered, gratuity paid on retirement or any retrenchment benefits increments, contributions to CPF and some other funds etc.

By outsourcing your payroll function, you take pressure off these departments. It also releases your specialists to focus on the core activities of the business.

Are there any statutory filing and reporting requirements covered under the payroll management?

Income Reporting: Employers need to submit salary information of their staff before 1 March by filling and submitting Form IR8A and Appendix 8A, Appendix 8B or Form IR8S.

Withholding Tax for Tax Clearance: To ensure that the foreign employees have paid all their outstanding taxes, their salary, bonuses, overtime pays, leave pay, allowances, and gratuities etc. are withheld.

Proper Records: Companies are mandated to maintain proper records of all staff’s income and deductions submitted to IRAS for 5 years.

What is CPF contribution and how it is divided between employer and the employee?

A part of the CPF contribution comes from the employee’s wages and the other part of the contribution comes from the employer.

The percentage of the contributions made by both, the employer and the employee changes, based on the age of the employee. The CPF rates applicable to an employee change on the first day of the month after his or her 35th, 50th, 60th and 65th birthday.

Non-Compliance of the CPF act brings penalties to the offenders.

What are the requirements of Auto-inclusion Scheme (AIS)?

Under auto-inclusion scheme, the employer reports employee’s salary and the deductions from it and etc to the IRAS. This information is reflected in the forms at the time of e-filing of the employee’s income tax returns.

For reporting an employee’s income an employer has to fill Forms IR8A, Appendix 8A, Form IR8S by 1st of March each year.

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