That means that for June, around 22.800 employees are guaranteed partial salary payment totaling 40.7 million.
The SVb is verifying all declaration of approval Reduction of the scope of work forms that have been submitted by employers. The team will contact approximate 300 employers who filled out the forms incorrectly and/ or incompletely and will provide them with the opportunity to correct the applications. Once this process is complete, they aim to start transferring the salary subsidy amount by Wednesday, June 24, 2020, to all employers who had their applications correct in the first instance, followed by payments to those who had to fix their Declaration of approval Reduction of the scope of work form.
The SVb reminds all employers that it is their responsibility to have their accurate bank information registered at the SVb. In the case the bank info is not accurately registered at the SVb, the payments can be unnecessarily delayed.
To facilitate employers with the partial salary payments, all payments are transferred as an advanced payment based on the loss of revenue due to drop in sales anticipated by the employer during May. The actual revenue losses will be verified in June based on the actual sales and the subsidy amount determined.
Employers that still have questions related to the Salary Subsidy program can send their questions to the Service Center email email@example.com.