http://www.cpaccount.com.sg/index.php/services/payroll-outsourcing-serv/
What is in for you by outsourcing your Payroll to CP Corporate & Accounting Services?
- Your payroll processing matters will be done using a payroll system that is highly automated.
- Systems that are in compliance to Singapore labour laws, such as CPF, SDL, and statutory donations. We offer electronic submissions to CPF board as well.
- You will be sent an updated report of your payroll as often as possible. This report includes detail such as basic salary, sales commission, bonus, overtime hours, claims and deductions, amnual leave (including leaves balance), etc. With these updates, you do not have to worry about following up. CP Corporate & Accounting Services will always keep in contact with you. Hence, you can be sure that all your employees are paid on time.
- Did you know that even though you outsource the payroll services, no payment will be executed until you give the authority to do so. Therefore, you still have the upper hand in the payments matter, for example via cash, cheque, bank GIRO etc.
- As the client, you can decide to do one of two things here: First, you can decide to get the prepared payroll and do the disbursement of funds on your own, or you can deposit funds with CP Corporate & Accounting Services and they will disburse the funds for you.
- End of the year processes can be tough and time consuming. Benefits in kind have to be prepared in relation to salaries, filing for taxes (including preparation of IR8A form, IR8S forms, Appendix 8A and Appendix 8B) and so forth. If you have an arrangement with the CP Corporate & Accounting Services, you can have a peace of mind as we can do that for you.
- Accounting Services is a one-stop solution and hub for many companies. There are other complementary services provided as well, such as accounting services, taxation services, company secretarial services etc.
Pointer to note when you outsource your payroll services
- Most accounting firm that offers you the payroll services in Singapore may not make payments on behalf of the company.
- The accounting firm will not place people to work in your offices. The entire processing of the payroll will be done in their outsourced offices and centers only.
- Before you outsource the payroll processing to a third party company or freelancer in Singapore, it is important to set things clear on day one. What will they do and what will it not do? For example, do you know that customization of the payroll will be handled as a different project? Ask as many questions as you can before hiring that person-in-charge or the accounting firm.