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What is the minimum I need to pay the Work Permit holder? Do I need to continue paying if they have no work?

As an employer, you need to pay your Work Permit holder at least the fixed monthly salary declared in the WP application form, or in the subsequent revision.

You need to pay them even if you don't have work for them. The only time you don't need to pay a Work Permit holder is if they are on no-pay leave outside of Singapore.