In the month of May, AYP organised our first series of webinars which were centred around payroll regulations in various countries around the ASEAN Region. This included rules and regulations, statutory contributions and how JuzTalent can help companies in the various ASEAN regions with processing and organising their payrolls. This webinar series was hosted by experienced in-house AYP staff, who have extensive experience and knowledge in the payroll process. If you’ve missed out on this webinar but would like to find out more, then read on and be sure to be on the lookout for our other upcoming webinars.
Payroll Journey – Singapore
The next episode of our webinar focused on the payroll journey in Singapore. The guest speaker for this was Alina Toi, the AYP ASEAN Payroll Team Lead with three years of working experience in her field. Alina leads her team into providing responsive and accurate payroll services to customers both internally and externally.
Payroll Rules & Regulations: The salary in Singapore is to be paid once a month, within 7 days after the end of the salary period. For any incomplete month worked, pro-rated salary is given according to the number of days worked by the employee. Overtime pay is also given, and is to be calculated correctly. The rating for overtime pay differs between normal working days and public holidays. It is necessary for employers to provide employees with itemised payslips.
Statutory Contributiosn: Singaporeans working in Singapore also need to make statutory contributions. Some notable mentions for this include the Central Provident Fund (CPF) and various Ethnic Fund Contributions, depending on the ethnic group to which the employee belongs to. Furthermore, employees are required to contribute to the Skills Development Levy for all employee rendering services.
Taxes: Annual Income Reporting is also mandatory, as employers are required to report the annual income of employees. Tax Clearance also needs to be filed for both Foreign & Permanent Resident employees. Employers have to file for this, and hold all money due to the employee for tax clearing purposes. This needs to be filed one month before the cessation date. However, tax clearance is not required for citizens or permanent residents who are not leaving Singapore permanently. This is also applicable to non-Singaporeans who work for less than 60 days or more than 183 days with earnings of less than $21,000 annually.
How Can JuzTalent Help? JuzTalent ensures the accuracy of payroll processing, along with compliance and timeliness to any regulations that need to be followed. Statutory submissions and government claims are well taken care of, along with annual income preparations and salary dis-imbursement. Clients send in their instructions to the AYP Payroll Team for processing. The payroll is then checked through twice and sent to the clients within two working days.