Companies in Singapore must pay the salaries of their employees in a timely manner. They must also ensure that the deductions made from the salaries of their employees are submitted to the Central Provident Fund (PF) on time. Computation of basic wages, overtime wages and bonuses are some of the basic elements of payroll processing. However, in Singapore, the computation of donations to funds such as the Singapore Indian Development Association (SINDA), Mosque Building and Mendaki Fund (MBMF) and Eurasian Community Fund (ECF), together with levies including the Skills Development Levy, as well as withholding taxes, make it a complex function. Sovereign can provide a comprehensive, flexible outsourced Singapore payroll service tailored to each client’s specific requirements.
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Sovereign Trust (Gibraltar) Limited
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