Singapore companies benefit from the Employment Support Plan

Support Plan for employment benefits more than 140 thousand companies in Singapore, according to Deputy Prime Minister Heng Swee Keat, about 4 billion dollars were allocated in payments.

In his most recent statement, the government spokesman assured that this is part of the more than 20 million dollars that are destined in the budget to serve the population and companies that have been affected at the labor level as a result of the spread of Covid. -19.

According to this month, the government will pay 75 percent of the first $ 4,600 of gross monthly wages per local worker to help businesses during the coronavirus pandemic.

The government has said that this wage support for Singapore companies is quite significant and urged them to use strategies that allow them to retain their workers.

In a statement from the Singapore Finance Ministry that companies do not need to apply for the scheme as the money will be calculated automatically using data from the February Central Provident Fund.

Companies that register with PayNow Corporate before next Friday, May 22 will be able to receive payment by the 28th of the same month, while those that exceed these periods will receive their checks between June 3 and 5.

Companies in the food service industry will receive 50 percent of wages during those seven months, while companies in the aviation and tourism sector will get 75 percent of wages during the full nine months.

This measure has been applied by the Singapore government since last April in different phases and was extended until this May, to provide greater support to the country’s business sector.

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