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ingaporean citizens and permanent residents are entitled to free public healthcare from MediSave as part of their contributions to the CPF, Singapore’s social security scheme. This benefit is not available for foreign employees. Instead, employers must pay for health insurance for S Pass employees or those holding a work permit. Health insurance is not required for Employment Pass (EP) employees.
While there is no requirement under the Employment Act for employers to provide private health insurance to employees, it is common practice for most large companies in Singapore to provide their employees with additional private healthcare which may also extend to dependents and foreign, EP holders.
Employers must make monthly contributions into Singapore’s social security savings scheme, the CPF, for all Singaporean citizens and permanent resident employees. Employers must contribute 17% of an employee’s salary into this national pension fund for employees aged 55 or under. The CPF is the only mandatory pension scheme in Singapore and it is not common for employers to offer any additional schemes.
There is no statutory requirement for disability leave in Singapore, however, under the Work Injury Compensation Act employees may receive certain benefits in the event of a work-related injury. This can include additional medical leave wages, cover for medical costs, and compensation for permanent incapacity or death. The act covers local or foreign employees who are contractually employed.
There is no unemployment benefit system for the unemployed in Singapore.
Your business can easily hire employees in Singapore without opening a local entity. We handle local employment law, complex tax regulations, and international payroll in 180+ countries worldwide. All you need to do is focus on your business.
Mandatory employee benefits in Singapore include healthcare and pension under the Central Provident Fund, annual leave, sick leave, maternity/paternity leave, and childcare leave.
In addition to all benefits prescribed under the Employment Act, Horizons offers all its employees the following benefits: