Is it permissible to accept a new job offer while working for other Company in Singapore while on an EP?
Yes, it is permissible to accept a new offer. It is advisable for you to resign and cancel your current Employment Pass only when your new employer has secured an Employment Pass tying to their Company.
Once your new employer has managed to secure an EP, the In-Principal Approval (IPA) letter will give you 6 months to proceed with card issuance.
This allows you to tender your resignation with your current employer and undergo the notice period without hassle.
Note: Once your current employer cancels your EP, you will be given a Short-Term Visit Pass (STVP) to remain in Singapore for the next 30 days. This gives you time to proceed with the card issuance tied to your new employer.