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Payroll Compliance Legislation
Payroll administration encompasses all the tasks involved in paying the Company’s employees. It essentially involves timekeeping, records of hours worked, monitoring leave of absence and ensuring that employees receive the appropriate wages for the salary period. It includes overtime pay, commissions, fixed allowances, reimbursements and deductions which may vary for exempt and non-exempt employees. It also include calculation and deductions for CPF contributions, calculating Taxes & submission of tax clearance and in managing work injury claims.
The specific tasks involved in payroll administration may vary according to the needs of each unique company or organization. For example, some companies may have employees who receive commissions in addition to salaries or workmen and non-workmen that may have different salary payment terms and conditions.
Hence, calculating employee wages, commissions, payroll deductions including CPF contributions for different category of employees can be complicated. It is therefore important for Company to stay informed of the latest legislative changes as they apply to their employees. More importantly, with the recent change to the Employment Act, the penalties for the offence of failure to pay salaries in accordance with the Employment Act has increased 3 fold for both first time and repeat offenders. Compliance with legislation will help the company avoid paying penalties.
This seminar / workshop will provide HR practitioners and payroll managers / executives to gain a comprehensive understanding of the revised laws and processes affecting payroll management for locals and foreigners.