ocbc 360 account

[ericcsn]

i cannot take out today? like before august? since bonus already deposit liao.

what is your previous month ADB?
current month ADB has to be at least $500 above that in order to secure the Bonus Interest (Save) category for the current month.

 

[endlssorrow]

what is your previous month ADB?
current month ADB has to be at least $500 above that in order to secure the Bonus Interest (Save) category for the current month.

Ohh.. so still got time to put in more money laaa is it

 

[endlssorrow]

how many companies allow that?

Don’t know.

u know?

 

[reddevil0728]

Don’t know.

u know?

More likely than not is cannot.

nothing to lose sleep over.

 

[petromax]

knn.. today i told my HR to spilt my salary into 3 banks. they say cannot.

i told 2 banks can? also cannot ...

knn...

once they allow for u, other employees will follow suit, end up HR got headache every employee split to 3 banks

ask urself, if your boss give you 3 times more work, you say can or cannot?

 

[sglandscape]

once they allow for u, other employees will follow suit, end up HR got headache every employee split to 3 banks

ask urself, if your boss give you 3 times more work, you say can or cannot?

It's doable if they implemented the IT system to do it in the first place, but most companies would not, which HR payroll person would want to do more work

 

[petromax]

It's doable if they implemented the IT system to do it in the first place, but most companies would not, which HR payroll person would want to do more work

but still, HR person needs to enter your detail 3 times compared to 1. Imagine now they need to enter 300 forms instead of 100. Even with IT system enabled, they still need to input the form mah...

even if you input it yourself, still HR usually does manual verification to ensure that the detail entered is correct (they sometimes require you to provide screenshot of your e-statement containing the name and account number ~ so this is still manual work). so they need to validate 3x compared to 1x

 

[endlssorrow]

but still, HR person needs to enter your detail 3 times compared to 1. Imagine now they need to enter 300 forms instead of 100. Even with IT system enabled, they still need to input the form mah...

even if you input it yourself, still HR usually does manual verification to ensure that the detail entered is correct (they sometimes require you to provide screenshot of your e-statement containing the name and account number ~ so this is still manual work). so they need to validate 3x compared to 1x

is HR job mah.. welfare for workers

 

[reddevil0728]

is HR job mah.. welfare for workers

Well, it seems like it isn’t? Cause the company didn’t say it’s theirs ma?

 

[vsvs24]

is HR job mah.. welfare for workers

HR job is to pay your salary, not pay to 3 bank accounts.

Most HR payroll system can only allow input of 1 bank account. That's what my friend working in payroll unit say.

 

[petromax]

is HR job mah.. welfare for workers

ya la ya la... hope ur boss give you 3 times more work and say its your job mah

 

[sglandscape]

HR job is to pay your salary, not pay to 3 bank accounts.

Most HR payroll system can only allow input of 1 bank account. That's what my friend working in payroll unit say.

This is the SG approach and we have not caught up in that aspect of innovation, and less labour friendly. Recall from people I know working in Australia, you can split it between 2-3 accounts, and it's the norm there, alom with getting paid usually fortnightly.

 

[vsvs24]

This is the SG approach and we have not caught up in that aspect of innovation, and less labour friendly. Recall from people I know working in Australia, you can split it between 2-3 accounts, and it's the norm there, alom with getting paid usually fortnightly.

Not as simple as you think.

My company long ago use a customized system which can spilt. Then they changed to off the shelve system. The very expensive fully integrated SAP system. Cannot spilt.

For those who deal with IT systems, you will know best to keep it simple. It is fine to customize or modify if the need is crucial. Paying salary to more than 1 bank is not a need to the company.

Payroll system requires high maintenance. Every time CPF rules change, management change salary/OT policies, or bank make changes to their account format or file upload format, changes have to be made and extensive testing is required. You don't just test the area modified, full testing is required.

Allowing more than 1 bank account means need to have the database store multiple bank account with the ratio for each bank account. Have to make sure it spilt correctly to each bank account. Extra coding to ensure rounding difference otherwise may end up paying one cent more or one cent less and bank reconciliation to the financial accounts all mess up.

If I am the company, I won't do it because I have more important things to automate and improve that truly improve efficiency. Instead of pleasing a handful of people when maybe 99% of employees just need one bank account.

 

[greatgreenman]

This is the SG approach and we have not caught up in that aspect of innovation, and less labour friendly. Recall from people I know working in Australia, you can split it between 2-3 accounts, and it's the norm there, alom with getting paid usually fortnightly.

Not really a matter of innovation. It depends on the payroll system used by the companies. Some have this feature, but others don’t.

But it’s not really a big deal since you can just transfer to yourself with the salary transaction code

 

[reddevil0728]

Not really a matter of innovation. It depends on the payroll system used by the companies. Some have this feature, but others don’t.

But it’s not really a big deal since you can just transfer to yourself with the salary transaction code

Not all recognise that though…

 

[sglandscape]

Not really a matter of innovation. It depends on the payroll system used by the companies. Some have this feature, but others don’t.

But it’s not really a big deal since you can just transfer to yourself with the salary transaction code

It's innovation for more frequent salary payments because it helps individual manage their cash flows better, the reason why it's paid into different accounts so you could set aside auto recurring investments for retirement planning - you could credit your salary directly into a recurring investment plan account.

 

[sglandscape]

Not as simple as you think.

My company long ago use a customized system which can spilt. Then they changed to off the shelve system. The very expensive fully integrated SAP system. Cannot spilt.

For those who deal with IT systems, you will know best to keep it simple. It is fine to customize or modify if the need is crucial. Paying salary to more than 1 bank is not a need to the company.

Payroll system requires high maintenance. Every time CPF rules change, management change salary/OT policies, or bank make changes to their account format or file upload format, changes have to be made and extensive testing is required. You don't just test the area modified, full testing is required.

Allowing more than 1 bank account means need to have the database store multiple bank account with the ratio for each bank account. Have to make sure it spilt correctly to each bank account. Extra coding to ensure rounding difference otherwise may end up paying one cent more or one cent less and bank reconciliation to the financial accounts all mess up.

If I am the company, I won't do it because I have more important things to automate and improve that truly improve efficiency. Instead of pleasing a handful of people when maybe 99% of employees just need one bank account.

Is this still the case now? Payroll for CPF computation, tax filing, NS make up pay these days all handled by a vendor (or a vendor that provides customisation for your software like Workday, SAP, PeopleSoft). If you're doing it in house, it's kind of a 2 decade ago approach which I have not seen for a very long time.

 

[vsvs24]

Is this still the case now? Payroll for CPF computation, tax filing, NS make up pay these days all handled by a vendor (or a vendor that provides customisation for your software like Workday, SAP, PeopleSoft). If you're doing it in house, it's kind of a 2 decade ago approach which I have not seen for a very long time.

Companies that can afford to buy SAP are big companies. Why outsource.

 

[vsvs24]

It's innovation for more frequent salary payments because it helps individual manage their cash flows better, the reason why it's paid into different accounts so you could set aside auto recurring investments for retirement planning - you could credit your salary directly into a recurring investment plan account.

Why should the company bother with what the employee want to do with their salary.

 

[sglandscape]

Why should the company bother with what the employee want to do with their salary.

You're taking on the local lens, where who cares about the employee. Was sharing the parallel of what Aussie companies have, and what's the practice there.

Companies that can afford to buy SAP are big companies. Why outsource.

Because no big companies would hire an SAP expert only to use them infrequently. You almost always outsource when it comes to enhancements for ERP systems, it's not even a competitive or moat of the business. If not already done, it's to keep some slack around so could cost optimise when things get tough.