1. Latest News
  2. Submit Press Release
  1. PR Home
  2. Latest News
  3. Feeds
  4. Alerts
  5. Submit Free Press Release
  6. Journalist Account
  7. PRNewswire Distribution
BIZTREE MANAGEMENT PTE LTD Logo

Singapore : Mandatory to issue payslip in 2 years time


 
PRLog - Jul. 1, 2014 - LONDON, British IOT -- If you work at Singapore workforce, you may experience before no issue of payslip given to you by end of the month. However if you check your bank account, monthly salary was successfully transfer. Next question you going to ask is What is the breakdown , how much I earned ?how much my contribution to Central Provident Fund (CPF) board ?

Some of you may answer "OK" without the issued of payslip, because monthly salary is fixed. However for those involve with sales activities their salary breakdown may consist of commission, fixed basic salary, transport allowance, meal allowance, accommodation and so on. How this group of people aware of the breakdown without the issue of payslip ?

All the above doubt may come to end soon with the operate of new ruling.

Let the employee aware of what is their salary breakdown? This is major reason why Ministry of Manpower (MOM ) propose to legislate mandatory issue of payslip in parliament discussion engine since March 2013 .

Operation cost may not became obstacle in near future because government agencyLikeMom advertised in their website for free software.

Despite the intention or motive of this new requirement Is good,the journey to mandating   It facing stiff challenge and caused defer in implementation. The strong against voice come from employers because new rulling may increase in operation cost.

Globally, Singapore well known with its ease of doing business in term of their prudent system, multi type of government grant , Lower tax rate.

However, there always bad side in the ease Life.And in this scenario Ceiling high  operation cost always is the worry topic .Recently government implement new ruling for the in flow of foreign worker and this caused another huge impact for those Used to be employed foreign worker with lower cost.

WHAT should stated on payslip ?

A set of Tripartite Guideline have been developed by Ministry of Manpower (MOM), National Trades Union Congress (NTUC) and Singapore National Employer Federation (SNEF) .

The detail information on payslip should include the following :

•Name of employer

•Name of employee

•Date of payment

•Mode of payment

•The salary period payable

•Basic salary

•Allowance

•Overtime hours worked

•Deduction amount

•Employer CPF contribution

Please visit Tripartite Guideline on issuance of itemised payslip website for more detail.

WHEN will be effective date?

According to MOM , this new ruling will be mandatory within 2 years time , the reason behind is to let SME owner have more time to react and do all necessary adjustment

Media Contact
michelle@biztreemgmt.com
***@biztreemgmt.com

--- End ---

Click to Share

Contact Email:
***@biztreemgmt.com Email Verified
Source:BIZTREE MANAGEMENT PTE LTD
Location:London - London - British IOT
Industry:Business, Human resources
Tags:singapore business news, doing business in singapore, setup singapore company
Shortcut:prlog.org/12343726
Verified Account Email Address
Verified Account Phone Number

Disclaimer:   Issuers of the press releases are solely responsible for the content of their press releases. PRLog can't be held liable for the content posted by others.   Report Abuse

Latest Press Releases By “

More...

Trending News...



  1. SiteMap
  2. Privacy Policy
  3. Terms of Service
  4. Copyright Notice
  5. About
  6. Advertise
Like PRLog?
9K2K1K
Click to Share