By MoneyBees
What replacing someone who resigns costs your business, from agency fees to a new hire's slow start, against a raise or retention bonus with employer CPF and SDL.
Count the agency fee if you use one, job ads and interview time, cover while the seat is empty, onboarding, and the months a new hire works below full speed. Then add the yearly employment cost: pay, employer CPF for citizens and PRs, and the Skills Development Levy.
For a citizen aged 55 or below, employer CPF is 17% of wages up to the S$8,000 monthly ceiling. SDL is 0.25% of monthly wages, at least S$2 and at most S$11.25. A S$5,000 salary costs S$5,861.25 a month.
Often, but it depends on your figures. The calculator finds the raise at which keeping someone costs the same as replacing them over the years you choose. A raise only helps if it keeps the person.
Yes. A bonus is an additional wage, so employer CPF applies to it up to the additional wage ceiling for citizens and PRs. The calculator adds that CPF and any change in SDL for you.
While nobody is in the role you do not pay their salary, CPF or SDL. The calculator takes that saving off and adds what you spend on cover, such as temp staff, overtime or lost sales.
A levy every employer pays for each employee working in Singapore, foreigners included. It is 0.25% of total monthly wages, with a S$2 minimum for wages below S$800 and a S$11.25 maximum above S$4,500.
No. CPF applies only to Singapore Citizens and Permanent Residents. SDL still applies to Employment Pass holders.
From you. They vary by role and firm, so the calculator uses your own quotes and estimates. Only the CPF rates and SDL come from CPF Board.
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