Eligible employers will get a notification letter by Friday from the Inland Revenue Authority of Singapore (IRAS), informing them of the amount they will get. The sum will be based on the wages that they paid in October to December last year.

The remaining three quarterly payments will be made on June 30, Sept 30 and Dec 31, said a statement from the Finance Ministry on Tuesday.

The Jobs Credit scheme is part of the $20.5 billion Resilience Package announced in Budget 2009 to help Singapore see through the severe economic downturn.

The scheme, administered by Iras, provides cash grants to employers to help them preserve jobs.

Under the scheme, an employer will receive a 12 per cent cash grant on the first $2,500 of each month's wages for each employee on their CPF payroll. It is a one-year scheme with four quarterly payments.

As the Jobs Credit scheme was announced on Jan 22, a further extension of deadline has been granted for employers to qualify for the first payment. Employers who make late CPF contributions by April 15 for wages that were paid in October to December will receive the Jobs Credits on these wages on June 30.

There will be no extension of deadline for the Second and Third Payments of Jobs Credit. Employers will have to make CPF payments on time in order to qualify for these Jobs Credit payments, said the Finance Ministry.

For more information on the Jobs Credit, visit www.iras.gov.sg or call 1800 356 4055.