Salary Calculations
Instead of doing manual computations, use these tools to help you get quick and accurate calculations:
CPF calculator: Employer and employee contributions
MoM online calculators: Pro-rated or overtime pay
As your business grows, consider investing in payroll software such as HReasily, Employee Hero, or Telenox to help you handle the process.
Aspire offers exclusive rewards with selected HR & People Operations tools. You can find out more here.
Salary Payments
You can pay your local employees via FAST or GIRO transfers. Here are the key differences:
FAST Transfers: For same-day, quick salary payments
GIRO Transfers: For scheduled payments tagged with SAL or SALA transaction code
Aspire offers both transfer options from your SGD account at competitive fees. Consider making batch transfers to save time and reduce errors.
| FAST Transfers | GIRO Transfers |
Fees | Individual transfers: FREE Batch transfers: $0.50 per transfer | $0.20 per transfer |
Timeframe | Within 2 hours | Within 4-5 business days |
CPF Contributions
This is mandatory for employees who are Singapore citizens or Permanent Residents.
You can make payments to CPF via PayNow from your Aspire account. Watch our video guide here for detailed instructions.
Questions? Chat with us by clicking on the messenger icon at the bottom right of the screen once you are logged in.