Contract of Service A Contract of Service, as defined by the Ministry of Manpower (MOM), is a formal agreement between an employer and an employee. It provides a crucial foundation for both parties, offering security and protection. Essentially, it functions as an employment contract. For employees, this contract ensures a sense of security as it [...]
Variable Components Monthly Variable Component (MVC) MVC acts as an “emergency lever” component to help employers bring down wage costs in the case of sudden and severe business or economic setbacks to survive and save jobs. MVC forms part of the monthly basic salary and it shall be included in computing overtime payment and CPF [...]
Salary payments are governed by the Employment Act (EA). Hence, an employer may only deduct an employee's salary for reasons allowed under the act. Alternatively, he may also do so if there is a court order. According to the act, authorised deductions can be made for the following reasons: For absence from work (without valid [...]
Payroll-related matters in Singapore are regulated by the Employment Act (EA). The EA is applicable to all employees, regardless of nationality, who work under a contract of service. However, it excludes seamen, domestic workers, and individuals employed by statutory boards and the government. All employees under a contract of service with an employer are covered [...]
Do note that the NOR scheme has ceased. The last NOR status granted will run/ be valid from YA 2020 to YA 2024. Tax concessions under the NOR scheme: To qualify, you will need to be: A tax resident in the respective YA Fulfill the qualifying conditions Qualifying conditions: Be a non-resident in [...]
The Skills Development Levy (SDL) is a mandatory levy that all employers will have to pay to their employees working in Singapore. The SDL is paid to the CPF Board who will then place the monies into the Skills Development Fund. This fund is managed by SkillsFuture Singapore (SSG). The monies are used to support [...]
This article was previously featured on Singapore Employment Agency and syndicated on our website. The short answer to this question would be yes. However, there are a few qualifiers and you should read further into this article to better understand what they are. There are many who would like to come to Singapore [...]
In order to obtain an employment pass, a foreigner will need to get the prospective employer to apply for an Employment Pass (EP) for him or her. I will then ask the person who posed this question whether the primary motivation for setting up a new company is to obtain an EP. If so, then [...]
An Employment Pass (EP) allows the pass holder to remain and work in Singapore. Here is a brief overview of the Employment Pass and what are the criteria required. Foreigners who are applying for an EP must fulfil the following criteria: Have a job offer in Singapore. There must be a written offer by a [...]
From 1st May 2021, family members of foreigners working in Singapore who hold dependant's passes (DP) will need to have a valid work pass to work in Singapore. Previously, they only needed to apply to the Ministry of Manpower (MOM) for a Letter of Consent (LOC). The LOC expiry date would typically match the expiry [...]