Salary & Bonus
Requirements for salary
Minimum Salary
There is no regulation regarding minimum salary in the Employment Act, therefore the salary has to be negotiated between the employer and the employee.
Time of Payment
- Salary shall be paid at least once a month before the expiry of the 7th day after the last day of the salary period.
- Additional payments for overtime work shall be paid not later than 14 days after the last day of the salary period.
- The total salary due to an employee on completion of his contract of service shall be paid to him on completion of the contract.
Common practice for Bonus
Annual bonus has become a common practice in Singapore, and in most cases, it's included in the employment contract.
Generally, annual bonus is equivalent to more than 1 month’s salary, but it can vary for different employees and companies.
In Singapore, it’s not surprising for an employee to receive annual bonuses of 2-3 times the monthly salary if the economic and the company performance are good.
In Singapore, it’s not surprising for an employee to receive annual bonuses of 2-3 times the monthly salary if the economic and the company performance are good.
