Payroll Executive

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.