Final Pay Acknowledgement Form for Singapore

Final Pay Acknowledgement Form Template for Singapore

A Final Pay Acknowledgement Form is a legally binding document used in Singapore to formally document the receipt and acceptance of final employment payments. It complies with Singapore's Employment Act and related legislation, ensuring proper documentation of all terminal payments, including salary, leave encashment, and other benefits. The document serves as proof of settlement and typically includes a release of claims clause to protect the employer from future disputes.

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What is a Final Pay Acknowledgement Form?

The Final Pay Acknowledgement Form is a crucial document used in Singapore employment termination processes. It is required when an employee's service ends, whether through resignation, retirement, or termination. The form ensures compliance with Singapore's Employment Act, which mandates final payment within 7 days of employment termination. It documents all financial settlements, including basic salary, pro-rated benefits, CPF contributions, and any outstanding claims. This document protects both parties by providing clear evidence of payment receipt and mutual agreement on the settlement terms.

What sections should be included in a Final Pay Acknowledgement Form?

1. Employee Details: Name, ID, position, employment duration and termination date

2. Final Payment Breakdown: Itemized list of all payment components including basic salary, pro-rated annual leave, notice period payment/deduction, outstanding overtime

3. CPF Details: Final CPF contribution details and calculations as per Central Provident Fund Act requirements

4. Settlement Declaration: Statement confirming full and final settlement of all employment-related claims and obligations

5. Acknowledgement: Employee's confirmation of receipt of final payment and agreement to terms

What sections are optional to include in a Final Pay Acknowledgement Form?

1. Outstanding Claims: Section detailing any pending expense claims or reimbursements to be settled

2. Company Property Return: Section listing company assets to be returned and confirmation of return

3. Non-Compete Reminder: Section restating existing non-compete obligations and their continued validity

4. Tax Clearance: Section addressing tax clearance requirements, particularly relevant for foreign employees (Form IR21)

What schedules should be included in a Final Pay Acknowledgement Form?

1. Schedule A - Payment Calculation: Detailed breakdown of all payment calculations including basic salary, leave, bonuses, and deductions

2. Schedule B - Outstanding Loans: Details of any company loans and repayment arrangements if applicable

3. Schedule C - Company Property Checklist: Itemized list of company property to be returned with condition assessment

4. Schedule D - CPF Contribution Statement: Detailed breakdown of final CPF contributions and calculations

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Jurisdiction

Singapore

Publisher

Genie AI

Cost

Free to use
Industries

Employment Act (Chapter 91): Primary legislation governing salary payment terms, calculation of final payments, and timing requirements (7-day payment rule after termination)

Central Provident Fund Act (Chapter 36): Regulates CPF contributions, refunds, employer obligations regarding CPF payments, and treatment of unpaid CPF contributions

Income Tax Act (Chapter 134): Covers tax clearance requirements, Form IR21 requirements for foreign employees, and tax treatment of final payments

Work Injury Compensation Act: Addresses settlement of outstanding injury claims and related compensation matters in final payment

Employment Claims Act 2016: Establishes dispute resolution mechanisms and statutory limits for employment-related claims

Basic Salary Component: Final basic salary calculation including pro-rated amount up to last day

Pro-rated Annual Leave: Calculation and payment of unused annual leave entitlements

Notice Period Requirements: Payment or deduction related to notice period fulfillment or shortfall

Outstanding Overtime: Calculation and payment of any pending overtime wages

Reimbursements: Settlement of pending expense claims and reimbursements

Authorized Deductions: Legal deductions from final payment as per Employment Act

CPF Contributions Settlement: Final employer and employee CPF contribution calculations and payments

Benefits Cessation: Clear documentation of when employment benefits cease

Company Property Return: Acknowledgment of return of company assets and properties

Full and Final Settlement: Clear statement indicating full and final settlement of all claims

Confidentiality Obligations: Ongoing confidentiality requirements post-employment

Release of Claims: Mutual release of claims between employer and employee

Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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