Information Extracted From MOM
Posted by admin on Nov 18, 2009
This post was extracted from MOM, about calculation of salary. We hope that with this post, it will help to reduce your confusion on how to calculate the salary with more detail.
EMPLOYMENT ACT
SOME COMMONLY ASKED QUESTIONS ON CALCULATION OF SALARY
The Employment Act covers all employees except those employed in a managerial and executive position, seaman, domestic worker and employees of statutory board or the government.
Calculation of Salary
“BASIC Rate vs GROSS Rate”
1. What is “Basic rate of pay”?
Pig Hunt psp Waitress download
“Basic rate of pay” is the total amount of money (including wage adjustments and increments) which an employee is entitled to under his contract of service but does not include overtime payment; bonus payment or annual wage supplement (AWS), any sum paid to the employee to reimburse him for special expenses incurred by him in the course of his employment, productivity incentive payment; and any allowance however described.
2. What is the “Basic rate of pay” used for?
The “Basic rate of pay” is used to calculate pay for work on rest days, work on public holidays and overtime work.
For a monthly-rated employee who works on a rest day or a public holiday, the Basic rate of pay for 1 day is calculated as follows:
12 X Monthly Basic rate of pay
52 X Average No. of days an employee is
required to work in a week
For a monthly-rated employee who performs overtime work, the hourly Basic rate of pay is calculated as follows:
12 X Monthly Basic rate of pay
52 X 44
3. What is “Gross rate of pay”?
The “Gross rate of pay” is the total amount of money including allowances which an employee is entitled to under his contract of service, but does not include overtime payments, bonus payments or annual wage supplements (AWS), any sum paid to the employee to reimburse him for special expenses incurred by him in the course of his employment, productivity incentive payments and travelling, food or housing allowances.
4. What is “Gross rate of pay” used for?
The “Gross rate of pay” is used to calculate payment of salary in lieu of notice of termination, deduction of pay for absence from work, paid holidays, paid annual leave, paid sick leave and paid maternity benefits.
For a monthly-rated employee, the Gross rate of pay for 1 day is calculated as follows:
12 X Monthly Gross rate of pay
52 X Average No. of days an employee is
required to work in a week
5. What is “Productivity incentive payment”?
“Productivity incentive payment” means a variable payment, whether made annually or otherwise, to an
employee as a reward for an improvement in that employee’s performance or an increase in the employee’s productivity or contribution to the employer’s business, trade or undertaking.
6. Can certain allowances such as shift and attendance allowances be considered as “Productivity incentive payments” and be excluded from the “Gross rate of pay”?
If the payment of the allowance incorporates features of an incentive scheme which fall within the definition of a “Productivity incentive payment”, it could be excluded from gross rate of pay. Shift and attendance allowances are paid to employees for carrying out shift duties and keeping good attendance respectively.They do not fall within the definition of a “Productivity incentive payment” and are considered part of “Gross rate of pay”.
7. If a company operates on rotating shifts with different rates of shift allowance, how should the allowance be computed in working out an employee’s “Gross rate of pay” when he goes on annual leave?
Employers may consider using any of the following methods:
(a) Standardise the rate by working out a simple average as shown in the example below:
1st shift - no allowance
2nd shift - $5
3rd shift - $10,
Average allowance per shift: 0+5+10 = $5
3
Hence, when an employee goes on leave, he is to be paid shift allowance of $5 for each day of his
leave, irrespective of the shift on which he is rostered to work.(b) Continue to pay the allowance as though the employee has worked for the day. Using the same example in 7(a), if the employee goes on leave when he is rostered to work on the 1st shift, he is not paid any shift allowance, but if he goes on leave when he is rostered to work on the 3rd shift, he is paid $10.Companies may also use other methods as long as they are fair and reasonable.
8. How do I calculate the salary of a monthly- rated employee who has only worked part of the month?
An employee may work an incomplete month if:
• he commenced employment after the first day of the month;
• his employment was terminated before the end of the month;
• he has taken no pay leave during the month; or
• he has taken leave of absence to perform his national service under the
Enlistment Act.
In such cases, the salary payable to him is pro-rated as follows:
Monthly Gross Rate of Pay x
• If the number of working hours in any working day is 5 hours or less, regard it as a half-day. If it is more than 5 hours, regard it as one day.
• Number of days the employee actually worked
• Number of days which the employee is in that month
required to work in that month (includes public holiday if he is entitled to holiday pay but excludes rest days and non-working days)
download If I Die Tonight movie
MYOB Promotion October 2009
Posted by admin on Oct 24, 2009
Are you thinking of getting Singapore No. 1 Accounting Software? Here is your chance, we are launching a promotion in this month and get up to $250.00 CASH REBATE!
What’s more? You can also obtain a subsidy to defray your cost up to 50%! It’s a Mad Mad Mad Mad World
Cry of the Owl move Final Destination divx
Why wait, call us now to find out more.
361 Degree Consultancy Pte Ltd
Enquiry Hotline : 6515 7906 To Catch a Thief movie download
Email: enquiry@361dc.com
Setting up Website at 80% Subsidy (SIP)
Posted by admin on Oct 24, 2009
If you have not got your website or you are still using xxx@hotmail.com or xxx@yahoo.com.sg, time to change! To boost adoption of infocomm, our beloved government has introduced a scheme to help local SME.
This particular grant will subsidy up to 80% on the expenditure (capped at $2,000) of establishing a website which include domain registration (www.yourcompanyname.com). This is a perfect grant for new start-up!
If you are looking for other government assistance schemes for SME, visit us at www.361dc.com.
Details as follow, enjoy!
SME INFOCOMM PACKAGE (SIP) INITIATIVE
To help ease the adoption of technology by Small and Medium Enterprises (SMEs), IDA has launched the SME Infocomm Package (SIP) Initiative.
The infocomm solution package you purchase is automatically subsidized by IDA if this is the first time you are investing in a web presence for your business. The subsidy is available to 5,000 SMEs on a first-come-first-served basis.
The subsidy covers (capped at $2,000 per SME):
§ *80% of monthly broadband subscription charges for 12 months;
§ Pig Hunt
*80% of monthly hosting and maintenance of website or web pages for
12 months; and
§ 80% of website or web pages development efforts.
*SME must sign a contract of at least 12 months.
You qualify for subsidy if:
§ You are a local SME with
§ at least 30% local shareholding,
§ less than $15 million fixed assets, and
§ employ less than 200 employees (applicable to non-manufacturing sector only)
§ You do not already own a website;
§ Your purchase includes the development of a website or web pages for
your business; and
§ You have not claimed under this initiative before.
Workplace Health Promotion Grant
Posted by admin on May 28, 2009
Do you know Health Promotion Board (HPB) has recently revise the workplace health promotion grant? HPB will defray 80% of the cost (capped at $10,000) for the purpose of workplace health implementation. What’s more, it supports such as medical equipment, sports activitity (bowling games & etc) & etc. How about placing a massage chair in the office? Just kidding, this is NOT included in the grant. For your easy reference, I have copied the details (as follow) from HPB website, feel free to read. Source: http://www.hpb.gov.sg/hpb/default.asp?pg_id=2165
Workplace Health Promotion Grant WHAT is the Workplace Health Promotion Grant? WHAT is the value of the Grant?
The maximum grant quantum is $10,000. The organisation must co-fund the WHP project by contributing 50% or more of the project cost. WHAT can the Grant Fund?
The Grant covers a wide range of WHP services/activities including: Funding is not extended to activities that are funded by other agencies. Please refer to WHP Grant Funding Guidelines and Examples of WHP activities fundable by the Grant. WHO can apply for the Grant?
Any organisation registered in Singapore can apply. The organisation must abide by the following terms and conditions: Shoot on Sight download HOW is my organisation reimbursed? Without a Paddle: Natures Calling trailer
The Workplace Health Promotion (WHP) Grant is a funding scheme offered by the Health Promotion Board (HPB). The Grant provides financial support to help organisations start and sustain their workplace health programmes.
HOW to apply for the Grant?
Submit the completed Application Form (See attached sample) to HPB. HPB will notify you of the outcome within 15 working days upon receipt of your application.
The Grant will be disbursed upon completion of the project. To seek reimbursement, please submit to HPB:
The amount reimbursed will be based on principal sum and excludes GST. All payment will be made via GIRO.
Observe and Prepare, start your business when time is right.
Posted by admin on Apr 26, 2009
Starting a business is always not easy and through survey, most people started a business because they are passionate of what they believe.
However, when is the right time to start business? In fact, anytime is the right time. Question is: ARE YOU READY?
Opportunity knock on your door almost everyday, it is just that we do not realize because we are not trained to smell it. My mentor, Mr. Andy Ong, from ERC Holdings written a book and commented that we are brought up a environment to find a stable job and work and work. Best it is in a MNC with great benefit such as dental claim and etc. You probably recall, once discussing with friends to compare how much can you claim on benefit.
Entrepreneur is always looking out for opportunity in any time and any place! Most of the successful entrepreneur mentioned that they started the business at the right placea and at the right time. Not really, in fact, they have waited for so long and the time is right, they started the business at the right place!
Entrepreneurs have been preying and waited patiently…..
Are you ready to set up your business? Pursuing your dream? If you answer yes, start observing and and be prepared! Joy Ride ipod Martyrs movie
Undercover Brother download Miss Pettigrew Lives for a Day dvd
Extension of GST Grant
Posted by admin on Apr 17, 2009
You can still enjoy $5000 government to expand your business till the end of June 2009.
Spring Singapore has recently announced that GST grant has been extended to 30 June 2009, which means, company or businesses who voluntarily register GST can enjoy a $5000 government grant. The grant can be used to cover accounting software such as MYOB Premier or MYOB Premier Plus. Not only accounting software, you can also use the grant to subsidize computer hardware such as laptop, server, printer & etc.
For the grant detail, please visit the following link
http://www.361dc.com/index.php?option=com_content&task=view&id=25&Itemid=27
or visit Spring Singapore website.You can also send an enquiry to
enquiry@361dc.com
Waiting… divx Hulk movie download
GST Grant Expiring
Posted by admin on Feb 17, 2009
Nieruchomy poruszyciel movie The popular $5K start-up funding is going to expire soon. At the time of publishing this blog, there were no news from Spring Singapore that the grant is going to be extended.
The popular grant is focusing companies with voluntary registration of GST. (for more information on GST, please visit www.iras.gov.sg
Suffering Mans Charity aka Ghost Writer download
) and company shall get 100% subsidy of computer software (eg. MYOB) and 50% on software training, implementation, consultancy, IT Hardware & One Year Contract for Internet Broadband. Full description of the GST assistance scheme can be found at www.361dc.com Sex and the City: The Movie .
However, the good news is that government is revising some other schemes such as work-life & etc. The work-life-works scheme (WoW Fund) will be revised from the current of $10K to $20K. Details shall be announced on the 1st of March 2009 and we are very excited.
More information on WOW Fund can be found on www.361dc.com Before Sunrise buy