When it comes to employment opportunities in Singapore for foreign talents, benefits and securing a work visa like the Employment Pass are the most critical before signing the contract. These employee benefits are different across the world – check out what are the common employees benefits in Singapore.
What are the Main Types of Leaves in Singapore?
The most common type of leaves are annual leave and medical & hospitalisation leave.
All employees are entitled to 7 days of paid annual leave
While 7 days of annual leave is the minimum, most employers offer 14 days (and up to 28 days)
Amount will be pro-rated based on the number of months worked
The number of leaves will increase with the length of stay in the company
Medical & Hospitalisation Leave
Paid sick leaves are entitled with an official Medical Certification
Up to 14 days of outpatient sick leave
Up to 14 days of hospitalisation leaves – this is only valid if the employee is warded or requires bed rest
Medical fees will be partly reimbursed dependent on each individuals’ contract
Singaporeans and Permanent Residents are entitled to 6 days of childcare leave for children below 7 years old
To lessen the burden on the employers, the 4th to 6th day of childcare leave is sponsored by the government at a cap of S$500 a day
The cap includes CPF contributions
Foreign employees are typically offered 3 days of childcare leave
Find out more about getting medications and Singapore’s health facilities here!
Aside from the entitled paid leaves, AWS, also known as ’13-Month Bonus’ and bonuses are additional common entitlements for employees, although it is not compulsory.
AWS is a single annual payment
Bonuses are offered at the end of each year to reward employees
Not compulsory unless stated in the employment contract
TIP: If you’re an employer, while both AWS and Bonus are not compulsory, it serves as a positive and motivating factor for employees!
Other Types of Leaves in Singapore
Allowances & Employee Benefits in Singapore
The common employee benefits and allowances include:
Tax relief on transportation or transport-related allowances
Includes parking costs, taxi fares, or fixed monthly transport allowance
Not taxable in Singapore
Singaporean employers need to deduct a certain percentage for retirement
CPF members above 65 can claim their pension
Compulsory CPF is tax-free for both employers and employees for local employees (Singaporeans & Permanent Residents)
Depends on your position and the allowance is dependent on your position
Includes covering the costs of rental for your apartment
TIP: Read your employment contract thoroughly and be sure to clarify if you have any questions or concerns.
Supplemental Employee Benefits in Singapore
Aside from the above, some companies also go beyond to provide more employee benefits to improve the overall compensation package and enhance overall well-being.
Mobile Phone Allowance
With a growing emphasis on a balanced work-life cycle, there is greater need to distinguish between work and non-work hours. Thus, employers are increasingly offering employees a “mobile phone” allowance to purchase a mobile phone dedicated for work.
Large companies typically offer insurance coverage, with some even covering dependants to draw in talent.
As the nation promotes active upskilling, employers are also training their employees constantly to upgrade their skillset.
Large companies typically provide a range of products and services from other firms that can be enjoyed at a discount for employees (through the employer).
Other benefits include:
Dental, gym membership, season parking and other forms of insurance. The list is non-exhaustive.
Things to Check in Your Employment Contract
Aside from the abovementioned benefits, there are certain clauses that every employee in Singapore should check in their employment contract. This is because the employment contract holds the power that is binding for both parties, especially if you earn more than S$2,600 a month.
Here are key things to look out for:
Salary & payment date
Is the salary the agreed salary that you have with your new employer?
When are they paying you? Note that for different countries, some companies pay mid-month and some on the 7th.
How long is your termination period?
How long is your probation period?
How long is your notice period?
Duration of contract
Is there a fixed duration for your contract?
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The 13-month bonus which is also known as Annual Wage Supplement (AWS), is not specified in the law thus not mandated. Unless it is written as part of your employment contract, your employer is not obligated to meet it.
What are the most common benefits for employees in Singapore?Timothy2020-12-17T11:10:15+08:00