Best Payroll Software Malaysia, Payroll System, Solution Malaysia

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Malaysia payroll software

As long as your company employs staff, processing payroll becomes an essential monthly task for businesses of all kinds. The intricacy of this process varies depending on the nature of the business and company policies.

In general, payroll calculations encompass, but are not confined to, the following:

  • Computation of salaries for daily, weekly, mid-month, or monthly pay schedules
  • Handling bonuses and ad hoc incentives
  • Calculating commissions
  • Managing employee reimbursements
  • Processing retirement benefits
  • Clearing formalities for resignations, among other tasks

Why Choose Payroll Outsourcing?

We provide Payroll Outsourcing services for the Asia Pacific Region, specifically:

  • Malaysia Payroll Outsourcing
  • Singapore Payroll Outsourcing
  • Thailand Payroll Outsourcing
  • Indonesia Payroll Outsourcing
  • Philippines Payroll Outsourcing (coming soon)

It is the employer’s responsibility to ensure the accuracy of salary calculations. Thus, ensuring verification processes and compliance with statutory deductions are significant challenges in payroll processing.

Primarily, the HR/Payroll/Finance team responsible for managing payroll becomes notably busy, usually from around the 20th of the month until the payout date, which totals approximately 10-15 days. Additionally, many companies overlook the fact that attendance, overtime, and allowance data are collected by on-site personnel (especially in the case of multiple locations) before being forwarded to the HR/Payroll/Finance team, adding another 3-5 days to the process. In summary, the overheads associated with processing employee transactions – from time attendance and overtime calculation to shift allowances and more – along with processing, deductions, and payments, often exceed expectations.

Given the commitment required to avoid salary payment delays, many individuals involved in the payroll process, such as Site Admins and HR/Payroll/Finance personnel, find it challenging to take time off during the payroll cycle. This contributes to the high turnover often observed in these roles.

The subsequent points outline both direct and hidden costs related to Payroll Processing within a company:

(a) Direct costs – wages of employees handling the task

(b) Indirect costs –

(i) Department Admins/Site Admins who collect time attendance, compile data, obtain supervisor approval, and forward it to HR

(ii) Costs of resignation and training for Department Admins responsible for data compilation

(iii) Costs of resignation and training for personnel managing payroll

(iv) Risks of non-compliance with statutory regulations

(v) Charges for system maintenance when updates are required for statutory compliance

Given these considerations, why continue managing Payroll in-house? Outsourcing non-core processes, such as Payroll, aligns with current business trends. As many businesses operate with lean resources, it’s vital to entrust important non-core transactions to experts. This way, you can allocate resources to areas that yield a return on investment for the business.

Our company offers end-to-end payroll processing alongside a FREE local or global cloud-based HR system. This system includes various modules such as E-Time, E-Leave, E-OT, E-payslip, and E-Claim.

Outsourcing your payroll to us liberates you from the associated hassles. We handle everything for you, ensuring calculations adhere to retirement fund regulations (e.g., EPF, CPF), income tax requirements (PCB, IRAS), and other relevant regulations. Your crucial records are securely backed up, and there’s no need to worry about personnel training and retention.

Contact Us

Head Office

Website: https://mywave.biz/index.php/solutions/payroll-outsourcing-solution

Bangunan Lip Sin, 2-4-3, Lebuh Pekaka Satu, Sungai Dua,
11700 Gelugor, Penang, Malaysia.
enquiry@mywave.biz
+604 305 9600