Singapore Company Incorporation with Paul Hype Page
Company Registration at Paul Hype Page Singapore

Singaporeans may be one of the most hardworking citizens, with individuals amounting up to 44 working hours per week. In the recent years, Singapore’s economy showed promising growths such as 3.1% in 2018 and 0.7% in 2019. A growth in economic levels provides Singaporeans with a bigger spending capability. This allows Singaporeans to enjoy better employee benefits.

To ensure that your employment contracts are in line with regulations, engage Licensed Employment Agencies like Paul Hype Page . We are based in Singapore with more than a decade of experience. We understand the local community and what employee benefits standards are in Singapore.

Some of the common employees benefit in Singapore that this article discusses include:

Annual Leave

An entry-level employee is entitled to 12 days of paid annual leave. This amount is pro-rated based on the number of months that the given employee has worked. The amount of leaves will increase with the amount of years in the company.

An employee that is entitled to 12 days of annual leave can only use 3 days of annual leave – if he or she has only worked for 3 months.

Medical & Hospitalization Leave

Employees are entitled to paid sick leaves by getting an official Medical Certification from a certified medical practitioner. This amounts up to 14 days of outpatient sick leave.

Employees are also entitled up to 14 days of paid hospitalisation leaves. This defines as any incident that the employee is warded or requires bed rest. Employees who requires rest after discharge from the hospital are also entitled to hospital leave.

Companies are required to reimburse part of the medical fees. The amount, however, varies from each employment contract and whether the medical practitioner is linked to the company.

Annual Wage Supplement (AWS) & Bonus

Also generally known as the “13th Month Bonus”, it is a single annual payout for employees. The AWS is not compulsory for all employees and it depends on the employment contract. Bonuses are usually offered at the end of each year, to reward employees for their effort and contributions to the company. Bonuses are also not compulsory unless stated in the employment contract.  While both AWS and Bonus are not compulsory, it serves as a positive driving factor to further motivate employees. 

Transportation reimbursements

Some of the benefits that Singaporean employees receive include tax relief on transportation or in some cases transport-related allowances. The employers compensate for transport-related expenses that include parking costs, taxi fares, or the fixed monthly transport allowances. Transport reimbursements are not taxable in Singapore.

Retirement benefits

Singaporean employers are expected to deduct a certain percentage towards retirement. After hitting age 62, the CPF members can claim their pension. The compulsory CPF is tax-free for both the employers and the employees. Besides, the beneficiaries are free to either buy a life annuity or to leave it in their retirement account for it to earn interest.

Housing allowance

Housing is one of the areas that are likely to consume a huge percentage of your monthly income if you are working in Singapore. However, the good news is that some companies will grant you a housing allowance as one of the employee benefits to enable you to comfortably foot you’re your rent bills while in Singapore. The housing benefits still depend on your position and the allowance depends on your position.

In summary, some of these common employee benefits will be stated in each employment contract. When employing Singaporeans, it may be a hassle to draft up your employment contract to match the legislation provided by the Ministry of Manpower (MOM).  That is where your trusted partner, Paul Hype Page will come in to help you draft an employment contract that is acceptable to the MOM.

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What are the common Employee Benefits in Singapore? FAQs

How many days do Singaporean employees get compassionate leave?2020-12-17T11:13:33+08:00

The total number of compassionate leave days in Singapore is 3. It is usually 2-3 paid leave days. 

What benefits attract employees the most in Singapore?2020-12-17T11:13:15+08:00

Some of the benefits that most potential employees look for in a company include among others:

  • Medical and dental insurance benefits
  • Work from home plan
  • The dressing codes (casual dressing mode)
  • Continuing education reimbursement
Is working in Singapore a better idea?2020-12-17T11:12:30+08:00

If you are considering working in Singapore then there is no doubt you are on the right path. Singaporean workers enjoy among others; relatively higher wages, excellent working conditions, worldclass business development, and staff investment opportunities. 

Is a 13th-month bonus a mandated benefit in Singapore?2020-12-17T11:11:56+08:00

The 13th-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?2020-12-17T11:10:15+08:00

The most common benefits that are given to Singaporean employees include:

  • Retirement benefits
  • Medical benefits
  • Disability benefits
  • Life insurance
  • Annual paid leave benefits
2021-06-03T15:33:39+08:00August 19, 2020|0 Comments

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