When it comes to employment opportunities in Singapore for foreign talent, benefits and visas are the most critical before signing the contract. These employee benefits are different across the world – check out what are the common benefits for employees in Singapore.
What are the Main Types of Leaves in Singapore
The most common type of leaves are annual leave and medical & hospitalisation leave.
Entry-level employee is entitled to 12 days of paid annual leave
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
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 Employee Benefits & Allowances
The other common 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 62 can claim their pension
Compulsory CPF is tax-free for both employers and employees
Depends on your position and the allowance is dependent on your position
Includes covering the costs of rental for your apartment
ADVISE: Read your employment contract thoroughly and be sure to clarify if you have any questions or concerns.
Drafting an employment contract that is aligned to the legislation provided by the Ministry of Manpower (MOM) can be a hassle. Leave that work to us while you grow your business to success! If you’re looking to set up your company in Singapore, we’re here to help too!
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?Tiwi2020-12-17T11:10:15+08:00