![]() ![]() The government, from April 1, 2020, has increased its support for businesses that can hire employees aged 40 years and above, by covering 20 percent of their monthly salary for half a year, capped at S$6,000 (US$4,235). Support for hiring mid-career and senior employees The government hopes this initiative will reduce local firms’ dependency on low-cost foreign workers. The reduction of the quota will begin in two phases: in 20. S Pass permits are designed for mid-level, skilled employees earning a minimum salary of S$2,300 (US$1,6200). The quota for S Pass permits for the construction, marine shipyard, and process (petroleum and petrochemical) sectors are reduced. Foreign worker quota for S Pass permits reduced for construction, marine shipyard, and process sectors ![]() This is to prevent Singaporean companies from hiring locals on so-called ‘token salaries’ in order to receive the foreign worker quota. The local qualifying salary, the minimum salary a local employee must earn to count towards a businesses’ quota for hiring foreign workers will be increased from S$1,300 (US$917) to S$1,400 (US$988). Qualifying salary threshold increased for local employees Failure to do so can result in the company being banned from hiring or renewing work permits for foreign workers. The government has warned employers to give fair consideration to local candidates prior to selecting foreign applicants. From May 1, 2020, job positions with a monthly salary of up to S$20,000 (US$14,100) must be advertised on the site, although, certain senior positions remain exempted – taking into account these can be market sensitive. Previously, job positions with a monthly salary of S$15,000 (US$10,500) and above, were exempted from being advertised on the website. Under the Fair Consideration Framework, employers who want to submit EP applications must first advertise the job position on M圜areersFuture.sg to promote labor market transparency and fair employment practices. Increasing salary threshold for Fair Consideration Framework job advertisement These experienced professionals will need to earn double the S$3,900 (US$2,700) threshold to be eligible for an EP. The salary criteria for more experienced and older EP candidates will also be raised. For current EP holders seeking renewal, the revised salary criteria will apply from May 1, 2021.ĮPs are issued to foreign expatriates employed as executives, managers, and skilled professionals, for an initial two years which can then be renewed for three years at a time. ![]() The government, from May 1, 2020, has increased the minimum qualifying salary from S$3,600 (US$2,500) to S$3,900 (US$2,700) for new applicants of the Employment Pass (EP). Investors should seek the advice of qualified HR consultants to better understand how these changes can affect their business operations. This also includes the directors and shareholders of a company. Under this scheme, the government will cover 75 percent on the first S$4,600 (US$3,223) of monthly salaries for each local employee until May 2020. This is why up to 60 percent of its second ( Resilience Budget) and third ( Solidarity Budget) COVID-19 stimulus packages were dedicated to the Jobs Support Scheme (JSS). The government has been implementing new initiatives to prevent large-scale job losses, especially for those earning lower salaries. These new rules were enacted May 1, 2020. As a result, these measures will impact the qualifying criteria to employ foreign workers in the country. On March 3, 2020, the Ministry of Manpower of Singapore announced new measures aimed at supporting employers to hire more mid-career and senior Singaporeans in the post-pandemic economy.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |