Payroll Management: Main Challenges
Businesses often lack the knowledge, expertise and time to keep up with the constant changes in local payroll legislations. Registering a company with the Central Provident Fund (CPF) board and understanding the contributions required for CPF, skills levy and ethnic funds can be a tedious process. As a result, paying employees on time becomes a challenge and penalties may be imposed by the Government.
Furthermore, international companies looking to bring foreign talent over often face difficulties with the visa application process. They struggle with the eligibility criteria and the application procedure for the relevant employment pass.
Mazars offers a turnkey solution for your payroll management
Mazars in Singapore provides comprehensive payroll services including:
- Maintenance of the employee payroll database
- Input of monthly payroll data
- Preparation and reporting of payroll summary reports (payroll detail report, cost centre report for finance, CPF return, Foreign Worker Levy/Skill Development Levy)
- Preparation of CPF returns
- Claims for statutory benefits such as National Service Make-up Pay claims and government paid leaves
- Preparing bank payment file to disburse funds to individual employees’ accounts
- Printing or emailing of payslips
- Tax clearance (Form IR21) for foreigners leaving Singapore
- Preparation of IR8A (income tax return)
Mazars becomes an extension of your team
We ensure the confidentiality of your employees’ information. Our payroll outsourcing team deals with local authorities on your behalf, handling registration with the relevant governmental agencies and advising you on the payments to be made. We implement and notify you of local legislation changes as they occur.
We can also assist you in the evaluation of the most suitable employment pass for your employees and advise you on the application process.
Mazars supports your business expansion
Your dedicated account manager will be your single point of contact, helping you save a considerable amount of time on payroll & HR management. There is no need for you to invest in neither a payroll software solution nor paying hefty maintenance charges.