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Hypothetical CPF question, contribution overlap?

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sing_sling77
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Hypothetical CPF question, contribution overlap?

Postby sing_sling77 » Fri, 12 Jun 2009 11:31 pm

removed
Last edited by sing_sling77 on Wed, 26 May 2010 7:34 pm, edited 1 time in total.

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sundaymorningstaple
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Postby sundaymorningstaple » Fri, 12 Jun 2009 11:54 pm

Don't know what you are drinking but regarding the CPF portion, it doesn't matter, you will have to claim back the overlap from the CPF board. Nothing wrong with that. Lots of people hold two jobs and both employers are required to both deduct and contribute to the CPF board, It's the employee who has to apply to the CPF board to return the excess deduction. It's done all the time. Not a big deal.

Oh, by the way, it's called "salary in lieu of notice" and is standard for all contracts if one wants to leave without requisite notice then the employee pays the employer. If the Employer wants the employee to leave then employer pays the employee. Normally, bigger MNC will keep you from starting work with a new company by putting you on "Garden Leave" where you are not released but are sent home to sit out your notice. You cannot work for another company during this period as you are still employed even though you are reporting for work. If you go to work for the new company you can be sued by the old company as you are still employed. So be careful or you might find you butt in a jam.

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Postby sing_sling77 » Sat, 13 Jun 2009 12:13 am

Tiger. I'm drinking Tiger.

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Postby sing_sling77 » Fri, 11 Sep 2009 5:18 pm

I never handed notice to my last company. 3 days before starting the new job, they made me redundant and gave me 3 months salary. Moments before I was about to tell them I quit. The following week I started the new job. Howz about that then ladies and gentlemen.

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Postby littlegreenman » Fri, 11 Sep 2009 6:06 pm

If the 3 months pay is your redundancy package, then that is your redundancy package and does not have anything to do with gardening leave or overlap of employment.

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Postby sing_sling77 » Sat, 12 Sep 2009 5:39 am

No, the whole point is that in my original post, I was wondering whether to start the new job whilst still serving leave on the old job - would anyone notice. It became a moot point seeing as I decided to take the risk of only handing in notice 3 days before starting a new job. Then had the unbelievable fluke of getting the 3 months redundancy moments prior to when I was going to quit anyway! So I was just very, very lucky - however the 'writing was on the wall' so to speak, so despite the risk I took, clearly I made the right decision.

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Postby Strong Eagle » Sat, 12 Sep 2009 8:08 am

What's the risk you are talking about? You can hold as many jbs simultaneously as you want.

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Postby littlegreenman » Sat, 12 Sep 2009 7:27 pm

Strong Eagle wrote:What's the risk you are talking about? You can hold as many jbs simultaneously as you want.


Unless your old contract or new contract state the opposite. Of course I am sure your new employer would not prevent you from starting in the meantime.

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Postby sundaymorningstaple » Mon, 14 Sep 2009 11:40 am

If the employee is put on garden leave, then the old employer has a legal case against the employee, If the employer OR employee paid "salary in lieu" then the employee is able to start work with a new employer immediately. However, if the employee is on notice but using his leave to offset the notice, the employee is still employed even if he is on his leave till the end of the notice. Therefore if he goes to work with another employer during this time the the old employer also legal recourse as well.

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