Payroll is an important functions in each company but that may not directly increase sales. Also not processed accurately, it can put your business into a lot of problems.
Second reason to outsource is to get access to latest rules and regulations issued by CPF Board(Central Provident Fund), IRAS (Inland Revenue Authority of Singapore) and MOM(Ministry Of Manpower).
Payroll Outsourcing can also help in cutting costs and minimize risks. CPF have to be filed on or before the 14th of every month, Itemized payslip must be issued before the 7 days of the calender month and IRAS reports of ir8a has to be filed by companies before 1st March every year.