Payroll in Singapore

If you need payroll services, our accountants in Singapore are at your service in order to ease the tasks associated with the processing and payment of salaries.

What are your payroll services in Singapore?

Some of the most representative services provided by our payroll company in Singapore refer to the following:

• gathering information about the wages that have to be paid to the employees;
  payroll activities;
• centralization of wages and taxes related to salaries;
• delivering the payslips;
• reporting to the management of the company;
• consultancy dedicated to the employees on matters related to salaries;
• registration with the local taxation authorities.

Apart from our payroll services, you can also rely on us for audit services in Singapore.

When must I set up the payroll for my company in Singapore?

The payroll starts once a Singapore company hires its first employee. For this purpose, the company must register as an employer followed by the registration of the employees with various funds and authorities.

What does payroll setup imply?

Payroll setup means:

1. issuing itemized paychecks (these can also be issued as online payslips);
2. registering foreign employees for all mandatory contributions (the employer is also in charge of obtaining the work permit on behalf of the employee);
3. registering for all contributions and funds as an employer and employees;
4. keeping accurate and updated information on employees (work contracts, additional documents).

What does payroll processing in Singapore imply?

If you decide to work with our payroll accountants in Singapore, they will:

1. set up the payroll software;
2. gather and organize employee data;
3. create the payroll payment cycle and generate pay slips monthly;
4. submit the salary information to the IRAS;
5. generate annual reports for the income tax of each employee.

You can read about payroll in Singapore in the infographic below:

When must I set up the payroll for my company in Singapore?

The payroll starts once a Singapore company hires its first employee. For this purpose, the company must register as an employer followed by the registration of the employees with various funds and authorities.

What does payroll processing in Singapore imply?

If you decide to work with our payroll specialists in Singapore, they will:

1. set up the payroll software;
2. gather and organize employee data;
3. create the payroll payment cycle and generate pay slips monthly;
4. submit the salary information to the IRAS;
5. generate annual reports for the income tax of each employee.

Does Singapore have a minimum wage system?

No, there is no minimum wage system in Singapore; however, the Progressive Wage Model provides for specific baseline salaries for certain sectors.

What are the amounts/percentages employers and employees must pay as social contributions in Singapore in 2026?

The contribution to the Central Provident Fund is as follows:

• employees aged a maximum of 55 must contribute 20% to the Fund from their wage, while the employer will contribute 17%;
• employees aged 55 to 60 must pay 16% to the Fund, while the employer will add 15%;
• employees aged 60 to 65 will contribute 11.5%, while the employer will contribute 10.5%;
• people aged 65 to 70 must also pay 9%, while the employer will contribute 7.5%;
• people above the age of 70 will pay 7.5%, while the employer will contribute 5%.

There is also the Skills Development Levy, to which Singapore employers must contribute 0.25% on the first SGD 4,500 of the gross income of an employee.

Are there any special contributions for foreign employees in Singapore?

Yes, the Foreign Worker Levy is a system through which the number of foreign workers in Singapore is accounted for. Employers must pay a monthly levy, which depends on the qualifications of the workers and the number of foreign employees hired.

What is the payroll frequency in Singapore?

Salary payments are usually made once a month, no later than 7 days from the end of a salary cycle.

What are the payment methods?

Salaries can be paid into employees’ accounts, but they can also be paid directly to them during working hours at the workplace. However, the first method is the most common.

You can also watch the video on our payroll services in Singapore:

What is the content of a payslip in Singapore?

The following elements are mandatory:

• the names of the employer and employee;
• the basic gross salary and period;
• the payment date;
• the allowances and deductions (where applicable);
• other pays (bonuses, public holiday pays, rest days);
• overtime and its pay (if applicable);
• the net salary.

What are the record-keeping requirements for employers in Singapore?

Employers must keep records of the generated pay slips for at least 2 years for working employees.  For former workers, the pay slips must be kept for at least one year after termination.

You can also rely on us if you want to register your company for GST in Singapore.

If you need other types of services, for example company incorporation services in India, we invite you to contact our partners – IndiaCompanyFormation.com.

We also provide consultancy services in order for you to simplify payroll procedures. Furthermore, in case you need payroll services in another country like the Netherlands, we can put you in contact with our partner accounting firm – Dutch-Accountants.com.

If you need a payroll provider in Singapore, please contact our accounting firm, which can provide you with assistance on this matter.

If you need a payroll provider in Singapore, please contact our accounting firm, which can provide you with assistance on this matter.