Employment Pass >> Can I have two employers?

[Moonlighter]

Hi everyone,

I'm working in Singapore under an employment pass sponsored by my main employer but have been invited to do part-time (a few hours a week) consultation work for another company.

Now I know that my main employer won't mind, but my concern is whether I'm violating the terms of my e-pass and if I am, what I can do about it? My application seems to say no, but I can't find anything on the MoM site, and I"m told that the Singapore gov isn't too concerned about this?

I'm eligible for permanent residency but would not want to take it up, since I would much rather (tax notwithstanding) invest 100% of my savings in EFTs than the 35% max a CPF account will allow (with pretty abysmal returns).

Any ideas guys?

Cheers,

Stuart

[cpf??]

Don't forget the CPF is only applicable up to $5000 or so, so the rest of your savings could be saved elsewhere...

[Wazzat Mean?]

Does that mean that one does not have to pay CPF for both jobs, if one has two jobs? That one pays only once "up to $5000 or so?"

[So...]

So the CPF is calculated from total income, from however many jobs you have? In that case, which employer pays?

[Maybe?]

Maybe both employers make the employer's contributions and the employee only contributes according to his total income? Am confused about this. The CPF website does not make this clear for employees with more than one job.

[CPF PAL]

Don't forget the CPF is only applicable up to $5000 or so, so the rest of your savings could be saved elsewhere...

CPF deduction is on first $4500 on your pay slip (used to be $5000) and 20% that comes from employee's pay is only $990...

For example :

If your income is $5,000 per month...
Your CPF contribution will be $990
Your take home salary would be $4010

If your income is $10,000 per month...
Your CPF contribution will still be $990
Your take home salary would be $9010

[What Hppens If]

What happens if you have two employers? Do you pay $910 in CPF for each job (ie $1820) and do both employers also pay the employer's share?

[Moonlighter]

CPF PAL - thanks for throwing some clarity on my obligations as PR, that does at least put it in perspective. It will still mean about a grand lost to crappy/inefficient investment (as even though I can invest 35% of my CPF in ETFs, etc, banks take a bite out of every trade ON TOP OF brokerage fees, and also take "maintenance fees" every quarter).

Are there any other smart ways? Is it possible to do it on a employment pass (or a particular kind of pass)? Is anyone doing it right now?

Cheers guys!

[BoardAdmin4]

Don't forget the CPF is only applicable up to $5000 or so, so the rest of your savings could be saved elsewhere...

CPF deduction is on first $4500 on your pay slip (used to be $5000) and 20% that comes from employee's pay is only $990...

For example :

If your income is $5,000 per month...
Your CPF contribution will be $990
Your take home salary would be $4010

If your income is $10,000 per month...
Your CPF contribution will still be $990
Your take home salary would be $9010

But this just applies after 4 yrs...
Before it's much less and starting by 5% for the 1st year ....

[roblei]

Defenitely not. Only the company which spnsered your visa. Nothing to do with cpf, just straight rules from MOM as you can see on their web site...

[What About PRs?]

What about PRs? Surely they can have more than one source of employment income? In that case, do the employee and employer each have to pay CPF for each job ?

[BoardAdmin4]

PR is of course total different, but a PR would not ask about this regarding EP... 

And yes, for each job the CPF must be paid from both sides

[some locals....]

I know hold two jobs or more. In fact, moonlighting is not allowed in most companies. To get around, make sure your second job does not pay you CPF. That is to say, do not contribute to CPF on your second job. Be your own boss and just work as freelancer on your free time ( after-work or weekends, PH ).

[But If]

If you also work for your own company you still have to pay CPF for that job too, whether it is your company or not.