As part of the Prihatin Economic Stimulus Package and Additional Prihatin SME Economic Stimulus Package, the government has introduced and enhanced the Wage Subsidy Program to assist businesses to retain existing employees during this tough economic period.
The eligibility criteria of the WSP are as follows:
As at 15 April 2020, the Social Security Organisation (PERKESO) has approved 111,900 applications involving 727,288 workers out from the total application of almost 130,000.
Please find below the relevant links for further details:
On top of the WSP, Employment Retention Program (ERP) and Employment Insurance System (EIS) are also an immediate financial assistance provided for employees during this tough period.
The details and criteria of the ERP and EIS are summarised as follows:
Exclusive Tax Handbook
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