Our payroll services encompass the preparation of payroll reports, payslips, and EPF/SOCSO/PCB forms. We request prompt notification of any employee resignations to allow adequate time for tax clearance preparation, although we cannot be held responsible for delays in tax clearance submission to the IRB.
For larger-scale payroll processing involving over 100 employees, customized fee packages are available upon inquiry.
Preparing payroll and disbursing salaries are crucial tasks for businesses, often made complex by various components like benefits, allowances, deductions, and government remittances. Many SMEs opt to outsource this function to accounting firms to save time and streamline operations.
Our payroll specialists are extensively trained and equipped with advanced payroll systems capable of handling even the most intricate payroll accounts. We ensure timely payment of government remittances such as EPF, adherence to tax filing requirements, and maintain confidentiality of payroll information at secure offsite facilities.
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When you enlist the services of Bayabumi’s Payroll Service, you’ll be assigned a dedicated payroll officer who will personally attend to your payroll requirements.
Upon receiving the necessary information and documents from you, your assigned payroll officer will carefully review and organize the details to establish and maintain your payroll ledger. Additionally, as per your instructions, the payroll officer will execute payments and ensure the submission of all required payroll taxes.
Our Payroll Service encompasses a variety of accounting tasks, including:
– Calculating salaries based on weekly, bi-weekly, or monthly pay periods
– Facilitating salary payments to employees via bank transfers
– Managing EPF registration and ensuring timely monthly payments
– Providing Form EA for personal tax filings, including statutory annual returns
It’s important to note that while these are the core functions of our Payroll Service, we are also capable of accommodating additional requirements as needed.
List of information required:
1) a) Has your company applied for online submission accounts for EPF (i-Account), SOCSO/EIS (Assist Portal), and/or MTD (e-data PCB account)? – Yes / No
b) Has your company applied for Business Premise License or Signboard licenses? – Yes / No
Your business may require these licenses, especially if it operates from a physical premise (e.g., office, shop, shophouse, warehouse, etc.).
If yes, please provide a copy of the Business Premise License for verification purposes.
If no, kindly apply for the Business Premise License through the relevant regulatory body or government agency. For further details, please refer to https://www.bayabumi.com.my/index.php/pbt-majlis-license-application-faqs/
2) How many full-time employees are there in each entity?
(a) Malaysian Citizens:
(b) Malaysian Permanent Residents (SPR):
(c) Foreigners on Work Passes (associated with your Company):
3) Description of salary components for full-time employees:
(a) Company industry, working days, and hours:
– Are the working days consistent across the company? (e.g., 5 days work week or 5.5 days work week)
– Are shifts followed, with varying off days and rest days each month?
– Are the working hours consistent across the company? (e.g., 9 am to 6 pm daily)
– Which industry does your company operate in (e.g., F&B, Retail, Corporate Office, Manufacturing, etc.)?
– Does your company require staff to work on public holidays?
(b) Basic salary:
– Is it fixed or variable?
– Is the currency in Malaysian Ringgit (RM)? If not, please specify.
– What is your company’s preferred pay-day?
– Does your company have an internal method for computing salaries for incomplete months?
(c) Allowance – Yes / No
If yes, please provide details:
– What types of allowances are provided (e.g., Transport, Mobile)?
– Are allowances given on a fixed monthly basis? If so, please specify the amount.
(d) Overtime – Yes / No
If yes, please provide details:
– Does your company have an internal overtime policy? If yes, please provide details.
– Is the overtime cut-off period aligned with the salary cut-off date or the calendar month?
– Are overtime payments made in the same month or the subsequent month?
– How would you like us to compute overtime – based on time cards/attendance reports or direct submission of OT hours?
(e) Claims/Reimbursements – Yes / No
If yes, please provide details:
– What types of claims or reimbursements are provided (e.g., Transport, Mobile)?
– Are claims/reimbursements disbursed with the monthly salary?
(f) Commission/Incentive – Yes / No
If yes, please provide details:
– Does the commission/incentive cut-off period align with the salary cut-off date or the calendar month?
– Are commission/incentive payments made in the same month or the subsequent month?
– Is the commission/incentive paid out monthly, quarterly, half-yearly, or yearly? If monthly, specify if it’s paid in the same month or the subsequent month.
(g) Others (please specify)
(h) Employer and Employee EPF contribution % (for employees aged below 60). If voluntary, please specify.
– Does your company make voluntary contributions to EPF, exceeding the compulsory percentage for the employer portion?
– Does your company facilitate employees in making voluntary EPF contributions, exceeding the compulsory percentage for the employee portion (deducted from their salary)?
For expatriates, permanent residents (PR), or foreign workers who choose to contribute to EPF from their monthly salary, they have the option to withdraw their entire EPF savings when they plan to return to their home country. Expatriates should apply for withdrawal two (2) months before the expiry of their work permit, termination of contract by the employer, or date of resignation. For the required documents for EPF withdrawal, please refer to the following link: https://www.bayabumi.com.my/index.php/requirement-to-apply-for-expatriate-employment-pass/
4) How many part-time employees are there in your company?
(a) Malaysian Citizens:
(b) Malaysian Permanent Residents (SPR):
If applicable, please also specify the employment arrangement (e.g., permanent part-timer, casual worker) and the remuneration package (e.g., basic salary [hourly, daily, or monthly], allowance, overtime, commission, claim/reimbursement, etc.).
5) Do you have any specific requirements?
– Yes / No
If yes, please provide a list of the required items.
6) Does your holding company have any specific arrangements?
– Yes / No
7) If you are hiring staff for the first time, please indicate the start date or expected start date of your first employee.
If you anticipate or have confirmed the commencement of your first employee’s work, it’s advisable to notify us as soon as possible. The entire registration process for EPF, SOCSO, EIS, and Income Tax typically takes a minimum of two to three weeks to complete. It must be finalized by the 15th day of the following month in which you run your first payroll cycle to ensure compliance. Failure to complete the registration on time may result in the inability to remit statutory contributions promptly, leading to potential heavy penalties.
