In every organization, payroll is an important function and usually makes up the greatest portion of the company’s expenditure. It is a complicated task given the variations and continual changes in labor policies and business regulations.
Bestar offers payroll services that can help improve efficiency of traditionally complex and time consuming tasks for global businesses. We provide payroll services to companies from small start-ups to large multinationals, no matter the industry or location.
We leverage technology to improve processes, and help manage costs. Our web-based payroll services help make it easier for businesses to get the payroll services they need at an affordable price. We provide compliance-centric, technology-driven managed payroll services that delivers a high quality and consistent experience to clients and their employees regardless of their location in the world.
Bestar professionals operate clients’ payroll from data collection, preparation and right up to statutory reporting, payment preparation and employee communication. You gain flexibility and agility to enter in new markets while reducing fixed cost structures.
Our payroll services include:
Customize and set up payroll system per business requirements
Creation of payroll file for new employees
Enrolment with the Central Provident Fund (CPF) Board
Computation and processing of overtime pay for production workers
Calculate and accrue compensation benefits
Computation of statutory deductions including CPF, Skills Development Fund and other fund deductions
Calculate other deductions for employees
Processing and reporting of expense claims from employees of clients
Administration of sick, vacation, and maternity leave
Monthly payroll processing including computation/disbursement of salary, bonus and reimbursements
Process pay statements
Administer distribution of salary
Monthly Central Provident Fund (CPF) submissions and other business reporting
Preparation of payroll reports
Manage payroll journal entries
Maintenance of payroll records
Computation of National Service pay and processing of claims from Ministry of Defence for staff attending in-camp training
Processing of employee terminations, resignations and preparation of remuneration reporting (Form IR21)
Preparation of year-end employee earning reports for tax reporting (Form IR8A)
We offer extensive experience in payroll processing functions and ensure that your employees are paid accurately and in a timely manner. Our team ensure that you, as an employer, comply with all the payroll-related statutory requirements and obligations.
If you would like to learn more about how Bestar can help, please contact us.