Over 140,000 employers to receive wage support totalling SGD4 billion from May 28

Wage support totalling SGD4 billion will be disbursed from May 28 as part of the enhanced Jobs Support Scheme (JSS), benefiting over 140,000 employers.

Employers who have registered for PayNow Corporate by May 22, can expect to receive the payment by May 28. Other employers will receive their cheques between June 3 to 5, according to a joint statement by Ministry of Finance (MOF) and the Inland Revenue Authority of Singapore (IRAS). 

Photo: Connected to India
Photo: Connected to India

Under the JSS, which totals over SGD 7 billion, the Singapore government will co-fund the first SGD 4,600 gross monthly wages paid to each local employee for nine months. 

On April 21, the JSS was extended to cover wages of local employees who are shareholders and directors (shareholder-directors) of companies. The May payment will include back-payments for companies with qualifying shareholder/directors whose wages were excluded from the first JSS payout in April 2020.

For the payment in May, employees will receive 75 per cent support for the first $4,600 of wages paid to local employees. This will be computed based on November 2019 wages, and future JSS payouts will be adjusted to account for the actual wages paid in May 2020.  

Employers are not required to apply for the scheme, as the cash grant will be automatically computed based on CPF contribution data as at February 14. 

Author
CtoI News Desk
CtoI News Desk – CtoI

Singapore-headquartered online media company targeting Indian Diaspora across Singapore, US, UK and Dubai. Connected to India covers developments around Indians abroad, informing, engaging and entertaining its audiences.

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