Well, this is a surprising article. Can this kind of ‘creative accounting’ happen in Singapore ? Employees beware. And share this with as many people as possible so that nobody is taken for a ride.
Here is one Ministry of Manpower TV advert that I can totally relate to:
Before I quit my job to pursue blogging as a career, I was doing pretty well in a local training company. At age 24, my annual income was S$114,000. Much of it came from commissions as I was the salesperson for a kids’ training programme.
The company has this (very strange) policy of not paying out CPF monies on commissions. So, what this meant was that the company would pay the ’employer CPF contributions’ only on the (fixed) basic salary portion. As for the commissions (the bulk of my salary), BOTH the employee and employer’s CPF contributions would come from my salary. Hence, I took home less than what was stated on paper.
Some would call this “creative accounting”.
In the eyes of the law, it is wrong.
After I left the company, I sought…
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