
I have read through various posts already and while some answered my questions in part, I didn't find a comprehensive answer. Therefore, I took the liberty to open a new topic.
I'm currently looking into the details of how a PEP application works. I believe I checked the MOM website extensively, if however, I have missed any information there that I'm asking for now, please accept my apologies in advance.
The requirements state that, in order to qualify as an oversees applicant, the last drawn fixed salary needs to be S$8,000 at least. This specific term was not that common to me but from what I understand this is the basic salary excluding all benefits such as car allowance, bonus etc. Correct?
Also I understand that overtime compensation doesn't count as well. However in my case I receive some sort of a structural overtime compensation. The reason for that is the way the work contracts (MNC with >100.000 employees) are structured. All contracts have 36 hours/week as a basis due to the Collective Labour Agreement with the union. However, in my contract it is stated that I permanently work 40 hours/week. Therefore, I receive a 'top-up' to my salary. It is the same amount every month and, personally, I wouldn't consider this an overtime payment in the usual sense (I can still clock in overtime on top of that) and also not a bonus or allowance payment. However, both salary items are listed separately on my payslip. So I'm wondering if I could still declare this as my basic salary as well? I read somewhere on the MOM site that overtime is considered working in excess of 8 hours a day, which in that case I also didn't.
Would it make sense otherwise trying to get a statement from my employer where both items are merged in one sum?
According to the MOM website there are no further documents required at the point of filing the application. Does it make sense though to include supporting documentation already? And if so, which ones. I don't want to overload the application and provide sufficient information on the other hand. Is work certifcate from employer including the salary and employment period, university degree, passport copy and latest CV sufficient?
Furthermore, and this might be a silly question, on what exchange rate can I base the calculation? On the application form there are three fields (basic & fixed monthly salary, and gross annual salary) and when filling those in should I use the EUR-SGD exchange rate valid the day of my application or some sort of average or the rate valid at the time I received my last salary?
To complete the picture, some facts concerning my current situation:
- German nationality, in my early 30s
- employed with MNC in The Netherlands for almost 5 years
- university degree in Germany from one of the MOM approved/listed universities
So, I believe that I have fair chances for an approval of the application. Knowing that I cannot be sure of that, of course.
Last question: does it make a difference if I use one of those professional agencies to submit my PEP application or is it a waste of money? I will be in SIN myself in the coming weeks and also have friends/colleagues who would provide their address and mailbox for the purpose of the application procedure.
Sorry for the many questions but I thought I put them all in one post right aways...
Thanks for your help.