In-country Expertise
Local Payroll Expertise to Support Your Payroll Services Singapore
Procloz eases payroll management, from CPF contributions to tax compliance, helping your business succeed in Singapore with payroll services Singapore.
Singapore’s Dynamic Payroll Landscape
Payroll services in Singapore is continuously evolving, driven by a growing workforce and ongoing regulatory updates that impact payroll and compliance requirements.
Rising Employment Trends
- Total employment in Singapore surged in Q2 2024, doubling the growth rate of the previous quarter.
- Total employment expanded by a substantial 11,300 jobs, compared to 4,700 in the first quarter.
CPF Contributions
- The 2024 CPF update increased contribution rates for employees aged 55-70, adding to payroll expenses for businesses.
- The CPF contribution rate for employees aged 55-70 increased by 0.5% to 1 % from January 2024 and will gradually increase until 2030.
Auto-Inclusion Scheme (AIS)
- AIS requires businesses to report income directly to IRAS, streamlining reporting while demanding ongoing system upgrades to remain compliant.
- AIS has been in place since 2019, and IRAS has consistently introduced updates and clarifications to the scheme.
Why Choose Procloz for Payroll Outsourcing Services Singapore?
From Flexible Pay Cycles to Precise Tax Calculations, We’ve Got You Covered.
Efficient Payroll Processing
Flexible Pay Cycles
Opt for pay cycles that suit your operational needs—
weekly, bi-weekly or monthly processing —aligned with Singapore’s Employment Act to ensure smooth and compliant payroll processing.
IRAS Reporting & Year-End Filings
Integrated Timesheet Processing
Comprehensive Leave Management
Tax & Compliance Solutions
Income Tax Compliance (IRAS)
We efficiently manage income tax changes withholding(subject to law) and ensure timely payments to the Inland Revenue Authority of Singapore (IRAS), meeting all statutory obligations.
Central Provident Fund (CPF) Contributions
We payroll tax calculate and manage CPF contributions, ensuring compliance with Singapore’s regulations for employee and employer contributions.
Worker Levies Administration
Work Injury Compensation
Employment Act Updates
Assured Compliance and Data Security
Ensuring your payroll remains compliant and your data secure every step of the way.
Payroll Tax Compliance Updates
Stay informed with the latest payroll tax compliance updates to ensure consistent, lawful payroll processes.
Data Security and Privacy
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Frequently Asked Questions
Have a question? Find the answers to your most frequently asked questions here. If you can’t find what you’re looking for, please don’t hesitate to contact our customer support team.
What is tax clearance in Singapore?
“Payroll and tax services in Singapore include tax clearance, a required process by IRAS to settle tax obligations before departure or business closure. It involves notifying IRAS, submitting documents, and clearing outstanding taxes. Businesses can streamline this with payroll outsourcing services Singapore for compliance.”
What is the 183 days tax rule in Singapore?
“Under Singapore tax residency rules, individuals staying 183+ days are taxed progressively (0-22%). Non-residents (under 183 days) face higher flat rates (15-22%). Compliance with payroll services Singapore ensures accurate taxation per IRAS guidelines.”
Is severance pay taxable in Singapore?
“Under payroll and tax services, severance pay in Singapore is tax-free if it compensates for job loss. However, bonuses, accrued leave, and contractual payouts are taxable. Businesses can ensure compliance with payroll outsourcing services Singapore.“
What info do i need for payroll in Singapore?
“To process payroll services Singapore, employers need employee details (NRIC/FIN), salary structure, work hours, tax residency status, CPF contributions, and deductions. Compliance with IRAS and payroll and tax services regulations is essential. Payroll outsourcing services Singapore help streamline this process.”
What are the working conditions and wages in Singapore?
“Payroll services Singapore follow the Employment Act, ensuring a 44-hour workweek, rest days, and overtime pay. While there’s no minimum wage, the Progressive Wage Model (PWM) applies to certain sectors, and foreign workers must meet salary requirements. Payroll outsourcing services Singapore ensures compliance with these regulations.”
What social security statutory contributions must employers make?
“Under payroll services Singapore, employers must contribute up to 17% to CPF for Singapore Citizens and PRs. Foreign employees aren’t CPF-eligible but may require Skills Development Levy (SDL), Foreign Worker Levy (FWL), and MediShield Life contributions. Payroll outsourcing services Singapore ensures compliance based on employee type.”
What are the pros and cons of payroll outsourcing?
Payroll outsourcing services Singapore ensure compliance, save time, reduce errors, and enhance security. However, businesses may face loss of control, hidden costs, and third-party reliance. Partnering with a trusted payroll service provider helps minimize risks and streamline operations.