How Much It Costs for Payroll Outsourcing Services in Singapore

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Payroll Services & Payroll Outsourcing in Singapore

At Links, we offer comprehensive payroll outsourcing services in Singapore, ensuring 100% in-country management and support. We understand the common challenges faced by businesses when handling payroll matters remotely or without a dedicated HR team, especially in the context of Singapore and other Asian locations.

With over two decades of experience in Asia HR, we tailor our services to meet the unique payroll needs of each company. Our expertise and extensive experience in Singapore make us the preferred choice for clients time and time again. By choosing our award-winning services, which encompass payroll system integrations, processing, and management, you can significantly reduce administrative burdens and streamline your business operations.

Outsourcing your payroll in Singapore with us offers numerous benefits, including:

Outsourcing Payroll in Singapore with Links

We offer a highly flexible suite of payroll services that cater to your specific requirements. With our extensive multi-country coverage, we ensure customer satisfaction by providing comprehensive payroll support across various locations.

If you have plans to expand your business in Asia, we are here to support you every step of the way. Our payroll service is designed to adapt and accommodate your evolving payroll and HR needs as your business grows. Whether you’re entering new markets or expanding your existing operations, we will seamlessly adjust our services to align with your expanding footprint. Count on us to be your trusted partner, helping you navigate the complexities of payroll management while ensuring your business thrives.

Smart Payroll Services in Singapore: One Solution for All Your HR & Payroll Needs

In the past, payroll services for multi-country companies in Asia often involved using different payroll services and solutions individually for each location due to country-specific payroll rules, diverse language requirements, and limited in-country support. Links One is designed to make managing payroll in Asia easy and effective. It is a cloud-based payroll solution that consolidates and integrates multi-country payroll management and reporting needs.

Links One harnesses the power of management for multi-country payroll. It centralises payroll data from different locations into a single dashboard for clear system reporting. Links Integration Hub helps consolidate system data from different locations by automatically formatting payroll data into a standardised form so you can easily report, compare, and evaluate.

Elevate Your Role with Links HR Outsourcing Services

Want to focus on strategic functions that aid business growth and performance? Learn how Links Payroll Services assist your employees and management to deliver on company goals. Get in touch with a payroll specialist in Singapore!

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Simplify Your Regional Payroll

Have a regional operation across Asia? Partner with a reliable international payroll services provider!

Links One is Asia’s leading regional HR and Payroll Dashboard Solution that caters to all your HR and payroll operations across Asia.

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Frequently Asked Questions (FAQs) on Payroll Services in Singapore

If you’re willing to keep up with the latest legislation and do your own calculations, it isn’t unheard of for smaller companies or businesses with an in-house HR team to do their own payroll. However, the downsides to processing payroll yourself is that it can be costly and takes time and resources away from your main business. There’s also an increased chance of errors, which are often followed by penalties.

While this will depend on the scale of your company, typically speaking, handling payroll in-house is more expensive than outsourcing payroll when taking into account direct and indirect costs of hiring resources internally to process payroll, eg, the salary of the employees, bonuses, medical insurances, computers and systems, training, licenses and maintenance, recruitment costs.

This also includes a lot of the fixed costs including technology infrastructure and implementation (which would fall under the payroll services provider). Beyond that, hiring an in-house expert can also be costly.

Outsourcing payroll offers several advantages and disadvantages for businesses. Here’s the pros and cons of  payroll outsourcing:

Pros:

  1. Cost Savings: Outsourcing payroll is often more affordable than hiring full-time staff.
  2. Error Reduction and Compliance: Professionals ensure accuracy and compliance, reducing fines.
  3. Streamlined HR Operations: Allows HR to focus on core tasks, boosting efficiency.
  4. Service Guarantee: Providers ensure accurate, timely, and compliant payroll processing.
  5. Time Saving: Frees up resources for business growth and strategic initiatives.

Cons:

  1. Loss of Control: Businesses relinquish some control over the payroll process.
  2. Dependency on Provider: Reliance on a third party can pose risks if performance falters.
  3. Confidentiality Risks: Sharing sensitive data may increase the risk of breaches.
  4. Communication Challenges: Language barriers or support limitations could hinder communication.
  5. Cost Considerations: While cost-effective, fees must be balanced against potential savings and benefits.

 

Payroll outsourcing works by having a payroll service provider handle the administrative and compliance functions of paying employees. Here’s how the process typically works:

  1. Setup: The business provides employee details and policies to the provider.
  2. Data Submission: Business submits payroll data before each pay period.
  3. Processing: Payroll Service Provider calculates wages, deductions, and benefits.
  4. Payment: Payroll Service Provider distributes payments and generates pay stubs.
  5. Tax Compliance: Payroll Service Provider manages payroll taxes, filings, and employee forms.
  6. Reporting: Payroll Outsourcing Service Provider generates payroll reports as needed.
  7. Support: Provider offers ongoing assistance and maintains system security.

Outsourcing payroll streamlines processes, reduces errors, and ensures compliance, freeing businesses to focus on core activities.

Outsourced payroll is very secure, as long as you partner with a reputable company. Certifications are a good indicator of their service hygiene and guarantee. A reputable payroll outsourcing vendor will typically have ISO 27001, and SOC2 certificates.

Data privacy lays the foundation of our solution and data security is at the core of our product development.

As such, Links payroll solution is hosted on Microsoft Azure, leveraging Microsoft’s best-in-class security standards and certifications (e.g. SOC 1, SOC 2 etc.). Our payroll also has encryption at rest and in transit, VPN and SFTP secure transfer of information, ISO 27001 certification, Data Loss Prevention, Regular penetration testing and vulnerability scanning, GDPR and local privacy law compliance, IP whitelisting, CI/CD, continuous automated testing and use of Single Sign-On and Multi-Factor Authentication. Feel free to contact one of our reps for more information.

The cost of payroll services can vary depending on several factors, including the size of your workforce, the complexity of your payroll needs, and the level of service you require. Generally, payroll service providers charge a fee per employee per month, with prices typically ranging from $9 SGD to $28 SGD per employee per month. However, it’s essential to note that these are rough estimates, and actual costs may vary based on specific requirements and additional payroll services.

Factors influencing the cost of payroll services include:

  1. Employee Headcount: The number of employees you have will significantly impact the overall cost. Larger companies with more employees typically pay higher fees due to the increased volume of payroll processing.
  2. Frequency of Payroll: The frequency at which you run payroll (e.g., weekly, bi-weekly, or monthly) can affect pricing. Some providers may charge additional fees for more frequent payroll runs.
  3. Complexity of Payroll: If your payroll involves complexities such as multiple pay rates, varying work hours, overtime calculations, or deductions, you may incur additional costs for the customization and handling of these complexities.
  4. Additional Services: Some payroll service providers offer additional services beyond basic payroll processing, such as tax filing, benefits administration, HR management, and employee self-service portals. These extra services may come at an additional cost but can provide added value and convenience.
  5. Software Features: The features and capabilities of the payroll software or platform used by the service provider can influence pricing. More advanced features or integrations with other systems may incur higher fees.
  6. Customer Support: The level of customer support and assistance provided by the payroll service provider may impact pricing. Some providers offer premium support packages or dedicated account managers at an additional cost.
  7. Contract Terms: Contract terms, such as the length of the agreement and whether you opt for a month-to-month arrangement or commit to a longer-term contract, can affect pricing. Discounts or incentives may be available for signing longer-term contracts.

Payroll outsourcing is the outsourcing of your company’s core payroll operational functions to a third-party payroll service provider. A payroll service provider is responsibly for automatically processing:

  1. Payroll Calculations: The payroll service provider handles the calculation of employee wages, including regular pay, overtime, bonuses, commissions, and any other types of compensation. They ensure accuracy in calculating gross pay, taking into account factors such as hours worked, rates of pay, and any applicable deductions or withholdings.
  2. Salary Disbursements: Once payroll calculations are completed, the service provider facilitates the distribution of salaries or wages to employees. This may involve processing direct deposits into employee bank accounts or issuing printed checks, depending on the preferred payment method of the employees.
  3. Leave Management: Payroll services often include the management of employee leave balances and the processing of leave requests. This involves tracking accrued vacation days, sick leave, personal days, and any other types of leave entitlements, as well as deducting leave taken from employee balances.
  4. Claims Processing: Some payroll service providers also handle the processing of employee expense claims or reimbursements. This includes verifying submitted expenses, approving valid claims, and reimbursing employees for incurred expenses in a timely manner.
  5. Time and Attendance Tracking: Payroll services may include the implementation and management of time and attendance tracking systems. This involves recording employee work hours, tracking attendance, and managing time-off requests to ensure accurate payroll calculations and compliance with labor laws.

Multi-country payroll outsourcing (MCPO) or multi-country payroll services (MCPS) enables businesses to manage payroll operations across multiple countries efficiently.

  1. Global Coverage: MCPO providers offer services spanning various countries, ensuring compliance with diverse regulatory requirements.
  2. Standardization: MCPO streamlines processes by standardizing and centralizing payroll operations across all countries of operation.
  3. Compliance: MCPO providers navigate complex regulatory landscapes to ensure accurate payroll processing and legal compliance.
  4. Currency Management: MCPO includes features for managing currency conversion and exchange rates to facilitate international payments.
  5. Language and Cultural Sensitivity: MCPO solutions address language barriers and cultural nuances to ensure effective communication.
  6. Data Security: MCPO providers prioritize data security and privacy compliance to safeguard sensitive employee information.
  7. Reporting and Analytics: MCPO solutions offer comprehensive reporting and analytics to provide insights into global payroll costs and trends.
  8. Scalability: MCPO solutions are scalable to accommodate business expansion into new markets or regions effectively.

Employers are responsible for filing the IR21 for employees requiring a tax clearance. This applies to all work pass holders, including Personalised Employment Pass (PEP) holders and non-Singapore Citizen employees who cease employment in Singapore or plan to leave Singapore for more than three months.

Employers must file the IR21 at least one month before the employee ceases employment in Singapore and withhold any monies due to the employee at this time.

There will be a Late Filing Fee penalty if the employer files Form IR21 late or fail to file. Employers who are late or fail to file the IR21 may even be summoned to Court.

ISO 27001 Compliant & Secure HR Outsourcing

We know information security is critical to your business. Our HR Outsourcing services are audited and certified for the ISO 27001 information security standard to give you an extra level of reassurance. For added security, we run our HR system through excess penetration testing on a secure hosting structure.

Links' HR Outsourcing services are audited and certified for the ISO 27001 information security standard.
Links International’s robust IT infrastructure, ISO 27001 compliant processes and Business Continuity Measures ensure that our clients have the highest level of information security.
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Want to Grow Your Business Strategically?

Learn how to streamline your Singapore payroll operations with our HR Outsourcing and HR Payroll Services. Schedule a quick call with one of our Payroll specialists in Singapore today.

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Links Recognised as ‘Star Performer’ Again

Links International was ranked ‘Star Performer’ in Multi-Country Payroll Solutions for back-to-back years by Everest Group. Furthermore, Links clinched the same recognition for Employer of Record Solutions in Everest Group’s PEAK Matrix® Assessment 2023.

Highlights from the Assessment:

  • In-country service delivery in 15 APAC locations with highly integrative and user-friendly technology
  • Delivering expert HR advice and industry best practices to Asia businesses
  • Appreciated by buyers for payroll accuracy and regulatory knowledge
  • Detailed dashboard with various payroll metrics across different locations
  • Streamlined user experience by offering AI-based chatbot integrated with Microsoft Teams to answer HR-related questions

“Links International stands out by adopting a technology-first approach and provides in-country support across multiple locations in the APAC region. Its commitment to ongoing improvements in its services, investment in integration, venturing into complementary areas such as Employer of Record (EOR) and Earned Wage Access (EWA), and strong Y-o-Y growth have positioned it as a Star Performer on Everest Group’s APAC Multi-country Payroll (MCP) Solutions PEAK Matrix® Assessment.”

– Priyanka Mitra, Vice President, Everest Group.

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