Business · Singapore Bureau
Three more Embed Financial workers file salary claims amid CPF charges
The total number of employees with outstanding pay claims against the Singapore fintech firm has risen to nine. All claimants have negotiated settlement agreements with the company, which faces separate legal action over unpaid Central Provident Fund contributions.
LSN Singapore ·
Three additional employees of Embed Financial have lodged salary claims against the Singapore-based financial services firm, bringing the total number of affected workers to nine. Each of the claimants has successfully reached a payment agreement with the company to settle their outstanding compensation. The development comes as Embed Financial faces separate charges related to unpaid CPF contributions on behalf of its workforce. The firm's CPF obligations remain under investigation by relevant authorities. All nine employees who filed claims have now secured settlement arrangements, according to statements regarding the matter. The cases underscore ongoing compliance challenges within Singapore's fintech sector, where regulatory oversight of employment practices and statutory contribution requirements has intensified in recent years. Embed Financial has not publicly commented on the timeline for fulfilling the agreed payment settlements or the extent of the CPF liability it faces.