The Ministry of Manpower (MOM), the National Trades Union Congress (NTUC) and Singapore National Employers Federation (SNEF) announced a new set of Tripartite Guidelines to make it mandatory for all Singapore Small Medium Enterprises (SME) to issue full itemised payslips to their employees within the next two years. It is an improvement to existing workplace practices. The tripartite partners agree that the provision of itemised payslips to employees increase employees' awareness of their salary components. It also minimises confusion towards the computation of the full salary and prevents salary disputes.
In circumstances where a Singapore company has ceased its operations or has not commenced business since incorporation, it may be more cost effective to consider closure proceedings via a strike-off application vis-à-vis the costs of maintaining a dormant company.