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Frequently Asked Questions (FAQ) on MYwave Professional Payroll Outsourcing Services

Frequently Asked Questions (FAQ) on MYwave Professional Payroll Outsourcing Services

Payroll Outsourcing

1. What are the scopes in the payroll outsourcing services?

  • Pre-payroll (Payroll related data verification/checking)
  • Payroll advisory on regulatory & policy changes
  • Payroll processing & compliance checking
  • Payroll journal verification & confirmation
  • Funds transaction & management
  • Salary & Statutory disbursement
  • Feedback and consultation on post-payroll related enquiries 

2. Is Payroll outsourcing the effective solution?

  • Evidently, it is an effectively solution for the reason that the payroll outsourcing partner has the expertise and infrastructure to provide an efficient process.
  • It also guarantees business continuity and peace of mind for customer.
  • Payroll Outsourcing is core business for MYwave, hence, we have all the processes in place to take immediate action on any changes in Statutory or Governance policies, Critical payments and payroll related advisory.
  • MYwave have a large team of payroll expert which will guarantee customer with minimal/no interruption in the payroll process.
  • Back-up is always in place to address immediate needs.
  • It is a cost saving solution because it is charged based on the headcount processed for the month.

3. What are the top 6 criteria to consider to select the Payroll Outsourcing provider?

  • 1  Price
  • 2  Range of Service
  • 3  Reputation
  • 4  Core business
  • 5  Customer segment
  • 6  Experience

4. How many employees from MYwave who will be handling our company's payroll?

  • At least 2 persons (depending on headcount and complexity of payroll account) where Account Owner is responsible for payroll processing and Account Manager is communicating with client on month to month update and payroll report verification.

5. How many days involved in payroll processing?

  • It is depending on the complexity of the payroll account inclusive of number of headcount and verification process involved. It may take as short as 1/2 a day or as long as 3 working days.

6. How MYwave will ensure the confidentiality of our payroll data?

  • All employees of MYwave are required to sign-off Non-Disclosure Agreement (NDA).
  • 2 employees to maximum 3 employees assigned to the Client will handle their data.
  • There is also an agreement between MYwave and Clients on confidential information.
  • MYwave account manager will only liaise with customer appointed payroll liaison on payroll related matters.
  • All payroll journal/reports are password protected and only direct to the appointed person only.

7. How secure is the HR/Payroll system which MYwave is using?

  • MYwave is using the in-house developed system, EMPLX which is subscribed and trusted by more than 500 companies, as small as 1 headcount to 3000 headcount.
  • MYwave system is complied with Cyber Security Common Criteria Level 2 (ISO 15408).

8. How long can we keep the payroll data?

  • As long as Client is still subscribing to MYwave services.
  • During termination of service, MYwave will return all data to the Client.

9. Who will be handling the salary payment to employees and contributions to the statutory bodies?

  • Client can have the option to pay on their own or to allow MYwave to pay on behalf.
  • Client may also choose to manage salary payment on their own and assign MYwave to manage payment to statutory body.

10. How long is the contract with MYwave?

  • Standard contract is annual and auto renewal.
  • It can be a short term to stand-in during maternity leave and replacement of employee.
  • Minimally, our contact is by half yearly because time is needed to refine and stabilize the payroll process for the benefits of customers.

11. Can we take back the payroll to do in-house?

  • Yes, 60 days' notice will be required to start the process of handling over back to Client. Client has the option to remain using EMPLX where all the history resides and learn from MYwave Team to process on their own.

12. Is every updates/changes will be charged?

  • Not every updates/changes will be charged. The terms will be stated in the quotation.

13. Do you provide printing of payslip and EA Form?

  • We provide self-service retrieval of payslip and EA form. You can save/print out on your own but if you need our assistance to print, there will be charges.

14. Why should we consider MYwave payroll outsourcing services?

  • Spontaneous response.
  • Affordable pricing.
  • Established reputation.
  • Dedicated services from MYwave team where testimonials from Clients can be provided upon requests.
  • We ensure business continuity for customer in terms of payroll management Up to date statutory compliance & Labour regulations.

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