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IMPACT – MEDIUM
Employers that offer “pick-and-mix” reward structures are reminded that residence permit holders must receive gross wages (not net compensation) that meet applicable minimum salary requirements.
Key Points:
Analysis & Comments: It is important that any foreign nationals holding one of the residence permits listed above meet the applicable minimum salary threshold before any form of compensation other than gross wages is considered. HR departments should keep this in mind before approving pick-and-mix requests from affected employees. Not meeting the applicable salary threshold will be a ground for the revocation of the residence permit, and employers are encouraged to work with Deloitte to ensure they are satisfying the requirements.
Rest of World Source: Deloitte. Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited (“DTTL”), its global network of member firms, and their related entities. DTTL (also referred to as “Deloitte Global”) and each of its member firms are legally separate and independent entities. DTTL does not provide services to clients. Please see www.deloitte.com/about to learn more. Deloitte Legal means the legal practices of Deloitte Touche Tohmatsu Limited member firms or their affiliates that provide legal services. For legal, regulatory and other reasons, not all member firms provide legal services. This includes Deloitte Tax LLP in the United States which does not provide legal and/or immigration advice or services. This communication contains general information only, and none of Deloitte Touche Tohmatsu Limited, its member firms or their related entities (collectively, the “Deloitte network”) is, by means of this communication, rendering professional advice or services. Before making any decision or taking any action that may affect your finances or your business, you should consult a qualified professional adviser. No entity in the Deloitte network shall be responsible for any loss whatsoever sustained by any person who relies on this communication.
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