Payroll Management

Fee Guideline for Payroll Management

Basic Payroll Management
Up to 5 staffs $200 per month
Up to 10 Staffs $350 per month
Up to 15 Staffs  $450 per month
From 16th staff onwards $10 per staff
One-time Payroll Services
CPF Account Registration $100
Bank Account Giro Set-up $100

Payroll Management

Preparing salaries in a timely manner is important for all companies because the Singapore Employment Act requires companies to pay exact amounts of salary to their employees within 7 days after the end of the salary period. In addition, there is also the need to provide payslips (with the appropriate details and amount) to all employees.

However, many companies do not have the necessary expertise to prepare the salaries in the correct manner, and thereby run into the risk of getting penalised by the government for wrongful or inaccurate computation of salary, deductions or CPF contributions. Small companies (SMEs) also find it difficult to engage a full-time in-house Payroll or HR Personnel when they have say less than 10 staffs, as it increases their operational and administrative costs.

How Timcole can Help You

With the help of our professional HR services, the painful effort associated with your payroll processing will be eliminated.

Timcole has a team of HR / payroll specialists that can provide you with the best practices and compliance support for all your Human Resource needs. We also use a sophisticated cloud payroll software to accurately process all the payroll data in accordance to the latest statutory policies and requirements in Singapore. You are therefore able to focus on your main business, without worrying about computation errors or paying any statutory contributions (e.g CPF) late.

Our Payroll Service ensures that:

  • Your salary computations are accurate
  • All salary information are kept with the strictest confidentiality
  • You comply with all required statutory requirements

Our Payroll Service provides the following services:

  • Calculating employees’ salaries on a monthly basis
  • Calculation of the statutory CPF deductions and online CPF submission before the required dateline
  • Generating the necessary payroll related reports & Payslips
  • Assisting with salary disbursements via cheque or direct bank transfers
  • Preparing Year-End Personal Tax Form (Form IR8A) for all staff
  • Filing of Tax Clearance for foreign employees (Form IR21)