Can EP holders apply for Permanent Residence?

Yes. EP (Employment Pass) holders allowed to apply for PR.

As a foreigner, you may be eligible to apply for permanent residence if you are a/an:

• Spouse of a Singapore citizen (SC) or Singapore permanent resident (PR)
• Unmarried child aged below 21 born within the context of a legal marriage to, or have been legally adopted by, a SC or PR
• Aged parent of a SC
• Holder of an Employment Pass or S Pass
• Student studying in Singapore
• Foreign investor in Singapore.