Choosing the right payroll service Singapore
The greatest advantage of electronic payroll systems is that all the work is completed for you – payroll reports, payroll tax refunds, year-end tax forms, etc. Normally, payroll can be handled in just minutes with these devices.
One downside is that it is more costly to use an electronic payroll provider than to do your own payroll. Your payroll agency will also be forced to get everything right. You can face a rash of angry workers or a fine from the government if the company makes a mistake.
How Much Does Online Payroll Cost?
Payroll costs vary, but most of them follow a common pricing structure: a flat base fee paid per month or pay period. You are billed with per-pay-period providers any time you run payroll, while per-month providers have monthly unlimited payrolls.
Many providers offer various pricing packages for different service rates. For example, a basic plan could include only payroll running, while more advanced and costly plans could also include paying taxes and printing W-2 forms for employees.
Depending on the plan and supplier, base fees vary from $20 to $100. For each paid employee or contract worker per month or pay period, most programs often cost between $1 and $15.
Many systems also added costs for using direct deposit, completing tax services year-end and setting up the system.
We have provided you the perfect guide to choosing a payroll service Singapore, if you want to know something specific, we’ll write about them later.