A company secretary is mainly an individual who is being appointed by the directors of the company. These professionals are mainly responsible for handling various tasks of company administration. Some of the essential facts about the company secretary Singapore have been discussed in this article.
Roles as well as responsibilities of company secretary in Singapore
Below are some of the important roles and responsibilities of the company secretary:
- They need to ensure that the registered office of the company must be a physical location.
- They must verify the company’s address for formal communication with other parties.
- They also need to ensure that any of the documents sent to the company secretary by any party must be received by them.
- The company secretary must ensure that the company’s name must be displayed outside their registered office as well as some other branches wherever located.
- Any change made to the registered office address must be informed to the company’s house by filing the appropriate form.
- They mainly need to manage the company’s premises.
- They mainly advise directors to remain compliant with articles of association, as well as business regulations that are related to health as well as safety.
- These professionals need to arrange proper insurance for the protection of the directors and the company.
- They need to frequently be involved in negotiations with some of the outside advisers which mainly includes lawyers and accountants.
- These professionals are mainly involved in the signing of the leases, legal documents as well as maintaining the bank accounts. They mainly act as a signatory on behalf of the board.
Top facts to know about payroll in Singapore
Payroll processing is mainly referred to as a process which is mainly conducted by companies to pay their employees. This is mostly done on a particular date every month.
The processing of payroll must be managed properly even if it is simple as well as transparent. This process mainly involves specific rules and regulations. The payroll processing in Singapore mainly requires contributions to social security schemes. This includes the CPF, the skill development levy, as well as the foreign worker’s levy. Payroll process workflow includes:
- The setting up the payroll
- The collection of raw data as well as cleaning
- The processing of payroll
- The payment of payroll or the payslip
- The statutory submission
- The annual report for the individual income tax
- The maintenance of employee payroll data
- The year-end payments like bonuses, etc.
These are some of the important facts to know about payroll singapore.