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SINGAPORE – Starting October 29, more than $ 5.5 billion will be paid under the Employment Support Plan (JSS) to more than 140,000 employers to help them retain their workers amid the Covid-19 pandemic.
This will help companies pay the salaries of some 1.9 million local employees, the Ministry of Finance (MOF) said on Monday (October 19).
With this latest round of payments, the total amount disbursed under the scheme will exceed $ 21.5 billion, the ministry said in a joint statement with the Singapore Internal Revenue Authority (Iras).
The JSS was introduced in the first budget support package by Deputy Prime Minister Heng Swee Keat in February and improved in successive packages. The wage subsidy applies to the first $ 4,600 of gross monthly salary paid to each Singaporean employee or permanent resident.
The scheme was recently expanded to cover salaries paid until March next year for companies in the sectors most affected by the Covid-19 crisis, and until December this year for sectors that are being managed well.
MOF and Iras said this month’s payment is intended to support wages paid to local workers from June to August.
Employers in the aviation, tourism and built environment sectors will get 75% support. Those in food services, retail, arts and entertainment, land and ocean transportation, and offshore will get 50 percent; and those of all other sectors, 25 percent.
Companies in industries that were not allowed to resume operations on site after the circuit breaker, which ended June 1, will have their support levels up to 75 percent during the period in which they were not allowed to resume operations. .
Eligible employers will be notified by mail of their pay amount and can also log into myTax Portal to view the electronic copy of the letter.
Those with PayNow Corporate or Giro con Iras agreements can expect their payments from October 29.
Others will receive their payments via checks starting November 4, but can receive their payments earlier if they sign up for PayNow Corporate with their banks before October 23.
Employers must also ensure that mandatory contributions to the Central Provident Fund (CPF) are made based on actual wages paid, Iras and MOF added.
By posting on Facebook on Monday (October 19), Heng, who is also Finance Minister, urged all employers to do everything possible to retain their workers during this difficult period.
“Employment remains a key priority as we continue to support our workers and businesses through this crisis,” he said.
“For companies that continue to grow, we also have the Job Growth Incentive to encourage the hiring of local workers, especially those in their middle age.”
Companies that benefited from JSS said they were grateful for the support.
Lim Chee Kean, CEO of Internet of Things (IoT) solutions provider Ascent Solutions, said many of the company’s overseas projects were suspended due to the pandemic. “JSS offered us support to retain critical jobs as employees were unable to travel to undertake international projects.”
He added that the plan has also helped the company hire more mature workers, such as a 64-year-old former CEO.
Iras and MOF also warned of severe penalties for attempting to abuse the JSS, including denial of payments, jail for up to 10 years, and a fine.
Those who want to report bad practices or potential abuse of the JSS can send an email to [email protected] or visit the website.
As part of the JSS eligibility checks, a small number of employers will receive letters from Iras asking them to conduct a self-assessment of their contributions to the CPF and to provide statements or documents to substantiate their eligibility for JSS payments.
Your payments for this month will be held in the meantime, but will be paid after Iras has reviewed and verified the information.
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