Local Payroll Management Services
Outsource your payroll services. Services include :
Computation of gross to net salary and central provident funds (CPF)
• Provision of payroll details, reports and payroll journals
• Disbursement of net salary and CPF via bank accounts and issuing confidential pay slips (electronic)
• Submission of monthly CPF details to CPF Board
• Preparation of year-end IR8A forms (electronic)
• Provision of payroll details, reports and payroll journals
• Disbursement of net salary and CPF via bank accounts and issuing confidential pay slips (electronic)
• Submission of monthly CPF details to CPF Board
• Preparation of year-end IR8A forms (electronic)
Central Provident Funds
The Central Provident Fund (“CPF”) is a compulsory pension fund scheme. The employer and employee will contribute a percentage of their monthly salary to the fund. This is mandatory for all employers who have employees who are Singapore Citizens or Singapore Permanent Residents earning more than S$50 a month.
Skill Development Fund
All employers must contribute to the Skill Development Fund (“SDF”) for their employees.
The CPF Board collects the skill development levy on behalf of the Singapore Workforce Development Agency. Ultimately, the levy is channelled into the SDF, which provides grants to companies that send their workers for training.
Employers have to contribute the levy for all employees up to the first S$4,500 of gross monthly remuneration at a levy rate of 0.25%, subject to a minimum of S$2, whichever is higher.
Employees include full-time, casual, part-time, temporary and foreign workers rendering services wholly or partly in Singapore.