Monday, November 23, 2009

WPS Bootcamp

Now that you've realized that you need to be participating in WPS, as an employer, your first port of call would be your Corporate Banker.

What WPS means to you is that instead of submitting your payroll in a hard copy or excel format, the payroll file will need to be formatted as per the guidelines provided by the Central Bank/Ministry of Labour. (Your payroll file shall henceforth be known as the Salary Inforamtion File - SIF)

In order to create this file, there are some pieces of information that you already have and some you will need to obtain.

Have a look at the presentations that I have attached on the top right had corner of this blog.

The presentation entitled "Step I" tells you how you can get a hold of your Company Code (or the Employer Unique ID) and Person Codes for your employees (or Employee Unique ID).

When you actually get around to creating your payroll file or the SIF, that's when you need to have a look at the presentation entitled "Step II".

Cheers
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