Payroll processing in Singapore has to be managed properly even if it is simple and transparent, as it involves specific rules and regulations – and should take the status of resident and non-resident workers into account. If not handled properly then it may lead to discrepancies and affect the payroll accounting which will result in inaccurate report data for income tax filing.

Typical Payroll processing workflow in Singapore includes:

·        Payroll setup;

·        Raw data collection and cleaning;

·        Payroll processing;

·        Payroll payment/pay slip;

·        Statutory submission;

·        Annual report for individual income tax;

·        Employee payroll data maintenance;

·        Year-end payments like bonuses, etc.

 

To make payroll management successful, companies should have accurate payroll processing, good maintenance, and timely disbursement. This would help in motivating employees and keeps staff optimistic other than ensuring compliance.

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