Rikvin Provides Singapore Payroll Services 

A Company that have a complete benefits that help foreign and local entrepreneurs setting their own business in Singapore.

by Victor Pelo Thursday, December 02, 2010
Singapore understands very well the value of human resources. It comprehends that without the brilliant minds and extraordinary skills characterizing the labor force, the economy shall not be soaring high. Hence, its labor laws favor the workforce. It ensures that employees are compensated based on their specialization and professional skills and capacity. To be fair, it does not stipulate minimum wage requirements. Rather, the government deems it appropriate that the best way to reward the services is through a mutual agreement after just deliberation and negotiation between an employer and employee.

The terms and conditions of mutual agreement are embodied in an employment contract which shall have an enforcing effect upon signing of both parties. Also, details such as the number of hours and days a week, probation period, commencement of employment, and termination of contract shall be indicated on the contract of services.

In Singapore, employees enjoy compensation and benefits such as allowances, overtime pay, rest day and public holidays. Their salary, which shall be distributed at least once a month, is not subject for deductions unless under legal circumstances ranging from absence from work, penalty for damages or loss of corporate equipment or property, to salary advances and loans.

Rikvin, a company established to provide professional services including company registration services, payroll, bookkeeping, and incorporation of a company, says that a typical workman’s working hours are 8 a day, excluding meal breaks.

“The maximum number of working hours is 12 a day with a break in between meal,” Rikvin explains in its statement.

When it comes to overtime, Rikvin responds, “employees can render up to 72 hours a month, lest an application for overtime exemption needs to be filed.” The compensation rate of overtime is at least 1.5 times the hourly pay rate.

Based on the Singapore Employment Act, all employees enjoy 1 unpaid rest day per week with 12 working days between each rest day. Should the employer request that an employee works on a rest day, the compensation shall be twice the daily rate.

About the Publisher:
Since 1995, Rikvin serves hundreds of companies managing and rendering Singapore accounting service using sophisticated payroll software system to handle even the most complicated payroll account. In its payroll services, Rikvin ensures that its clients comply with requirements such as remittances of CPF and taxes.

Moreover, Rikvin assures its clients of confidence in dealing with every transaction. Its accountants maintain competence. Above all, Rikvin’s principles adhere to the laws and share the same vision such as the inevitability of innovation.

Rikvin provides Singapore Company Registration service including securing your Singapore Employment Pass and Singapore EntrePass Visa for Singapore Business Migration.

General | Categories: financial, business
0    submitted by Victor Pelo
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