Payroll Executive
4 weeks ago
OVERVIEW
A payroll executive is a professional responsible for overseeing the accurate and timely processing of payroll for employees of all levels. They must possess strong analytical skills, attention to detail, and a comprehensive understanding of payroll laws and regulations.
DUTIES AND RESPONSIBILITIES
Adding value to the HR department by facilitating the overall management of the payroll administration.
Payroll Processing:
- Collect and verify timekeeping information for all employees.
- Calculate and process payroll, including regular wages, overtime, bonuses, and deductions.
- Ensure accuracy and compliance with company policies, labor laws, and taxation regulations.
- Review and reconcile payroll data before processing payments.
Record Maintenance:
- Maintain accurate payroll records and employee data in the payroll system.
- Generate reports on payroll costs, employee hours, and benefits utilization as needed.
- Ensure confidentiality and security of payroll information.
Compliance and Reporting:
- Stay updated on payroll laws, regulations, and industry trends.
- Prepare and file payroll tax returns and other regulatory reports.
- Assist in audits and provide necessary documentation to auditors.
Communication and Support:
- Respond to payroll inquiries from employees regarding pay, deductions, and benefits.
- Collaborate with HR and finance teams to address payroll-related issues and discrepancies.
- Provide training and support to employees on payroll-related processes and systems.
Invoice Review:
- Review and verify invoices related to payroll, including those for casual labor provided by third-party vendors and full-time third-party labor.
- Ensure accuracy in billing, hours worked, rates, and other relevant details.
- Reconcile discrepancies and resolve issues with invoices in a timely manner.
Timesoft System Management:
- Ensure accurate setup of employee profiles, pay rates, deductions, benefits, and other payroll-related data within Timesoft.
- Monitor system updates and implement necessary changes to enhance functionality and compliance.
- Serve as the primary point of contact for Timesoft-related inquiries and issues from HR, finance, and other departments.
- Provide advice, guidance, and troubleshooting support to users regarding Timesoft functionalities, processes, and best practices.
- Collaborate with Timesoft support teams to resolve technical issues and optimize system performance.
- Conduct training sessions for new users and refresher sessions for existing users on Timesoft system navigation, features, and updates.
Subsidies, Claims Processing, Tax Compliance and Submission:
- Manage and process government-related subsidies and claims, including maternity claims, paternity claims, childcare leave, foreign worker levy waivers, and other relevant subsidies.
- Ensure accurate calculation and verification of subsidy amounts, eligibility criteria, and supporting documentation.
- Collaborate with HR, finance, and legal teams to ensure compliance with government regulations and policies.
- Coordinate and facilitate IRAS income tax submissions for employees, including timely filing of tax returns, tax deductions, and exemptions.
- Calculate and process tax-related allowances, and benefits in accordance with tax laws and regulations.
- Provide guidance and support to employees on tax-related inquiries and compliance matters
JOB REQUIREMENTS:
- A minimum Diploma/Degree in Accounting, Finance, Business Administration, Human Resources, or a related field with at least 2 years of relevant experience.
- Possess a positive work attitude.
- Proficiency in MS Office, particularly Excel.
- Strong grasp of payroll principles, tax regulations, and labor laws.
- Demonstrated attention to detail and accuracy in data entry and calculations.
- Ability to handle confidential information with integrity and professionalism.
- Effective communication skills and the capacity to collaborate within a team.
- Familiarity with the Timesoft system would be advantageous.
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