Globalization Partners to Credit Singapore Payroll Funds to Clients
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lobalization Partners, which enables companies to hire and retain global team members without setting up complex international legal infrastructures, announced it will issue a payroll credit to clients who have team members on the Globalization Partners' payroll in Singapore.
The payouts are a result of the Singapore government's wage reimbursement of qualified employees through the Singapore Jobs Support Scheme (JSS) during the COVID-19 pandemic.
The Singapore government's support has been initiated to reduce employer wage costs and help companies retain workers in Singapore. The funding covers a portion of 9 months of gross monthly wages from October 2019 to July 2020 (excluding Jan 2020) for employees that are citizens and permanent residents of Singapore. The funds will be paid out in three installments, in April, July and October of 2020. The funds will in turn be reimbursed to Globalization Partners' clients.
As the COVID-19 pandemic continues to disrupt the economy, our first priority is to support our clients and the people we employ on their behalf, said Nicole Sahin, CEO of Globalization Partners. This government support was intended to help companies that employ people in Singapore, and we want to ensure that those funds are directed where intended - to our clients. We are thrilled to be able to provide this additional support during this unprecedented time and hope the goodwill extended by the Singapore government does indeed help our clients retain their local staff.
The JSS program supports companies in all sectors in Singapore and the timing of the payouts are as follows
April 2020 Based on salary payments made between October and December 2019, with a cap at 75 percent of SGD $4,600 in October, and 25 percent of SGD $4,600 in November and December 2019
July 2020 Based on salary payments made between February and April 2020, with a cap of 25 percent of SGD $4,600 for each month
October 2020 Based on salary payments made between May and July 2020, with a cap of 25 percent of SGD $4,600 for each month
Globalization Partners understands that having the right support can make an enormous difference in helping companies successfully navigate the challenges associated with COVID-19. Please click here to learn about free support services that Globalization Partners is providing to its customers and prospective clients. For more information on everything from individual country updates to practical advice about working remotely please visit COVID-19 Your Global Team is Our Priority.
✔️ Globalization Partners to Credit Singapore Payroll Funds to Clients
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