Pay Schemes shows the variety of pay schemes available in the company. It also indicates the type of pay scheme a particular employee is using.
There are 2 types of Pay Schemes:
- Shared pay scheme: Allows you to group employees with the same pay scheme together. Changes to the pay scheme will automatically be applied to all employees. Usually used for part-timers with the same pay scheme
- Individual pay scheme: Pay scheme that applies to only one individual. This is useful for full time employees who receive different pays.
It is important to set the Pay Scheme properly, in order to:
- Ensure accurate calculation of the employee's overtime pay on his work day/non-work day/holiday.
- Keep up with Employment Act mandate by MOM Singapore.
Accessing and viewing Pay Schemes
- Head to Payroll > Pay Schemes on the side menu
- Toggle between viewing shared pay schemes or individual pay scheme by clicking the Shared or Individual tabs
How to Create a new pay scheme
- Click the + New Pay Scheme button at the top-right hand corner
- Enter the Name of the pay scheme
- Select the Type of pay from the dropdown list
Monthly: Pay is accorded on a monthly basis, taking into account all the working days in a month
Daily: Pay is accorded for every half or full day of work. For more information on what constitutes a full day of work, or how to change your company's work hours, click here
Hourly: Pay is accorded for every hour worked
- Select the Currency of the pay from the dropdown list
- Set the quantity of the pay
- Choose whether the pay is pro-rated based on attendance logs
Note: This function necessitates the use of Payboy's Attendance module, which means that employees need to check-in and out of work either through the web portal or the mobile app)
- Choose whether to include overtime pay
1. Checking overtime pay brings up a pop-up where you can set a base hourly rate for overtime work. The other settings available depend on the type of the pay scheme set earlier
2. You can decide whether the working day rate differs when working on normal days, non-working days or holidays
- Choose whether to assign the payscheme as an Individual or Group type
- Enter Employees to be assigned under the scheme
(Note: If you select more than one employee, the pay scheme becomes group type by default)
- Select the Holiday Group, which determines the calendar dates that will be taken as holidays for this pay scheme. For more information on holidays and holiday groups, click here
- Uncheck Automatically Determine Working Hours by Employee Roster to customize the Work Hours for this pay scheme. For more information on work hours, click here
- At the bottom of the page, click on the Submit button to create the new pay scheme
Alternatively, you can also create a pay scheme during web onboarding process of a new employee. Please refer to the Onboarding Employee section for further information.
Feel free to contact us if you face any difficulties through the support chat icon on the bottom right of the screen or email email@example.com. We will get back to you within 3 working days.