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PR Newswire
26-05-2011, 10:38 AM
[quote='cif5000' pid='9721' dateline='1306337072']
[quote]
What is considered income? Will bonuses be included?
Employee income is based on the definition of gross salary under the CPF Act:
Gross salary = Total Ordinary Wages + Total Additional Wages
Where:
Ordinary Wages are wages due or granted wholly and exclusively in respect of an employee's employment. This includes allowances and overtime pay.
[/quote]
Therein lies the loophole that they exploit. Overtime pay and allowances are not fixed and vary from time to time. If the real fixed ordinary wages of the majority of the citizens here are used to calculate, I'm very much sure that quite a significant portion of the so-called "median" income for the 50th percentile will evaporate into thin air. In my company, when overtime work is frozen, the low-wage worker falls into debt IMMEDIATELY. And low wage workers make up easily 60-65% of my company's workforce. Go figure....
[quote]
What is considered income? Will bonuses be included?
Employee income is based on the definition of gross salary under the CPF Act:
Gross salary = Total Ordinary Wages + Total Additional Wages
Where:
Ordinary Wages are wages due or granted wholly and exclusively in respect of an employee's employment. This includes allowances and overtime pay.
[/quote]
Therein lies the loophole that they exploit. Overtime pay and allowances are not fixed and vary from time to time. If the real fixed ordinary wages of the majority of the citizens here are used to calculate, I'm very much sure that quite a significant portion of the so-called "median" income for the 50th percentile will evaporate into thin air. In my company, when overtime work is frozen, the low-wage worker falls into debt IMMEDIATELY. And low wage workers make up easily 60-65% of my company's workforce. Go figure....