Singapore Payroll Compliance
Payroll compliance can be a daunting responsibility. Instead of spending unproductive hours on manual processing, you can let Opensoft Payroll software automate every aspect of it. Opensoft has incorporated the computations for virtually all types of contributions, most common of which are CPF, CDAC, MBMF, SINDA, ECF, SHARE, FWL, SDL, National Service Pay, Monthly Variable Component (MVC), NWC. Updates will be available to keep the payroll software in full compliance with new / changes in regulations.
In compliance with Singapore’s HR regulations, companies are required to issue itemised payslips to every employee. While small businesses can get by manually issuing payslips generated by spreadsheets, such methods are time consuming and prone to errors. Using our payroll software, itemised payslips will be automatically generated for each employee. Our payroll software can support both hardcopy and electronic payslips.
Opensoft Payroll dramatically improves the payroll processing capacity of your organisation. First and foremost, the payroll software is good for single user as well as multiple concurrent users without restriction in terms of the number of users possible.
Hence, for large enterprises with big payroll teams where staff are tasked with different payroll functionalities, Opensoft provides the perfect payroll solution that caters to collaboration.
To ensure the timely submissions of contributions to statutory boards, simply make use of the auto submission built in the Opensoft Payroll software. With support for direct deposit via bank GIRO, CPF contribution via CPF PAL-Internet or CPFLine, IRASLine, IR8A, IR8S and IR21, your business would no longer be penalised for late submissions.
Up to 80% Grant
Opensoft Payroll software is included in the HRMS Package which qualifies for a total of 80% funding under Productivity Solutions Grant (PSG). Eligible employers for SkillsFuture Enterprise Credit (SFEC) will receive a one-off $10,000 credit to cover up to 90% of the out of pocket expenses on qualifying costs.
For more information, please contact us or refer to the HRMS package.
- Data Entry: Simple even to first time user of payroll software
- Friendly Navigation Menus: Thanks to the software’s Windows-based design
- User Customisable: Your user can customise any formulae to suit your organization
- Quick Data Entry Mode: Very useful on pay day processing
- Automatic Backup: The system will backup data automatically and backups can be kept for unlimited time period as required
- Online Submissions: Bank GIRO, CPFLine and IRASLine available
- Concurrent Multi User: Many payroll personnels can work on different processes at the same time. Assign specific rights to different users.
- Multiple Companies: Different companies can be created, each with its own payroll runs
- Security: All data are encrypted. Specific rights can be granted to relevant staff for different tasks.
- Different Pay Frequencies: Can configure different pay days for different employees.
- Personalised Payroll Processing: Up to 20 additional fields available per employee for tracking individual allowances and/or deductions over the default Overpay, No-Pay-Leave, Commission, Bonus fields
- Tracks Recurring Payment: Allowances and deductions disbursed to each employee will be tracked and accumulated for management reporting
- Staff Loan: For staff who takes loan from the company, their instalment payments can be auto-deducted from their monthly salary and reflected in itemised payslips
- Export to Excel: Easily export payroll data to Excel for further analysis
- Itemised Payslips: Complies to Ministry of Manpower’s policy for Singapore companies
Tools and Reports
Easily generate the following payroll reports for management:
- Summary reports of Monthly Payroll
- Summary of Year-to-date Payroll
- Overtime Expense Report
- Levy Expense Summary
- Organisation Salary Overview
- Employee’s Bio-Data
- Employee’s Payroll History
- Staff Appraisal