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SkillsFuture Enterprise Credit (SFEC)
What is SFEC?
The SkillsFuture Enterprise Credit (SFEC) provides funding support to encourage employers to further develop their capabilities and to boost their employees' skill set. Eligible employers will receive a one-off S$10,000 credit per firm to cover up to 90% of Out-Of-Pocket (OOP) expenses on qualifying costs for supportable initiatives, over and above the support levels of existing schemes.
How to optimise the SFEC?
The one-off S$10,000 credit can be used for the following 2 categories
a. Enterprise Transformation
• Productivity Solution Grants (PSG)
• Enterprise Development Grant (EDG)
• Market Readiness Assistance (MRA)
Only a maximum of S$7,000 of the SFEC can be used under this category. For company that has successfully received
the partial funding for the above programme can further claim up to 90% of the unfunded portion.
Example
Enterprise A received approval for PSG Grant application to implement Xero Cloud Accounting system. After getting the
80% funding for PSG, Enterprise A can further claim up to 90% of the balance through SFEC.
Package Price for Xero S$ 5,000
Less 80% from PSG Grant S$ 4,000
Balance S$ 1,000
Less 90% from SFEC S$ 900
Balance Payable S$ 100
With both of the PSG grant and SFEC, Enterprise A only need to pay S$100 for a full Xero Cloud Accounting System that
worth over S$5,000
*** If the E-Invoice Registration Grant (ERG) is applicable, companies can further claim another S$200 to offset the
full cost.
b. Workforce Transformation
Job redesign initiatives, and curated training programmes by SkillsFuture Singapore (SSG) and Workforce Singapore
(WSG), such as training courses aligned to the Skills Framework, Professional Conversion Programmes and sector-
specific programmes. The full sum of up to S$10,000 of credit can be used for this category.
• Skills Framework-Aligned Courses
• Professional Conversion Programme (PCP)
• Place-and-Train Programmes
For enterprises with employees who have undergone the training programme can claim up to 90% of the unsupported
course fees.
Example
Enterprise A sent one of their employees for a relevant Skill Framework-Aligned course under the 'Workforce
Transformation' supportable programme. An SSG course fees subsidy of 90% will be applicable. After deducting off the
subsidies, the enterprise still can further claim up to 90% of the balance unfunded course fee through SFEC.
Course Fee S$ 1,000
Less SSG Course Fees Subsidy (90%) S$ 900
Balance S$ 100
Less 90% from SFEC S$ 90
Balance Payable S$ 10
After both of the Skills Development Funding and SFEC Funding, Enterprise A only needs to pay S$10 for every
employee sent to the training
Eligibility
The employers need to meet the following requirements to qualify for SFEC
• Have at least 30% of local equity
• Have contributed at least S$750 Skills Development Levy over a qualifying period
• Have employed at least three Singapore Citizen (SCs) or Permanent Residents (PRs) every month over the same period
of time.
There will be 4 qualifying periods:
i ) 1 April 2019 - 31 March 2020
ii ) 1 July 2019 - 30 June 2020
iii) 1 October 2019 - 30 September 2020
iv) 1 January 2020 - 31 December 2020
*All the qualified employer will be informed in writing. There will be no qualification of employers after the last period.
There is no need to apply for the SFEC. Employers that fulfil the eligibility criteria will be informed by Enterprise Singapore in writing.