What does AEIS mean in GENERAL

To be eligible for the AEIS, applicants must be businesses that are registered with the Accounting and Corporate Regulatory Authority of Singapore (ACRA). All employers must also ensure they comply with relevant regulatory requirements under existing employment laws.

Under this scheme, employers will receive wage offsets equivalent to up to 20% - 50% of gross monthly wages paid to each qualifying Singaporean employee. The amount of wage offset available depends on the sector, level of skill and number of days worked by thisemployee.

It usually takes from 4-6 weeks from when an employer submits all necessary documents until they receive their incentive payment if approved. The processing time may vary depending on factors such as document clarity, completeness and accuracy.

Employees will not benefit directly from the AEIS because it is an employer-based grant that provides incentives for companies only. However, employees may indirectly benefit as some companies may use part or all of these incentives to reward their existing local workers with additional wages or other forms of benefits such as career development training opportunities.

Employers can apply once every six months and applications must be submitted within six months from the date when new Singaporean employees start working for them or increased wages are granted to current local workers in order to qualify for this grant.