News By Tag
News By Location
Singapore : Mandatory to issue payslip in 2 years time
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
•Overtime hours worked
•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