Transfer of EMployement pass from one employee to another employee

No, this is not possible!
Your EP is tied to your employment with the company who applied for it.
To change jobs, you need a new EP, which may or may not be granted.
(MoM does not like job-hoppers, so don't try it after less than 1.5 years on the job!)

Thanks a lot for your quick reply Beppi.

My question is, is it possible to transfer the EP of one employee to another employee by Employer if they want to?

I answered it very clearly, didn't I:

beppi wrote:

No, this is not possible!

Edit:
Oh well, I just noticed that you asked about a transfer between enmployees, not employers, as I first thought.
That is a different question, but the answer is still the same: No!

Thanks Beppi.

But i heard some word like Swapping from my colleagues. Meaning, transfer of one india employee to Singapore and one Singapore employee to india on same EP (Employer is an reputed organization in India and SG as well).

as per your advice it seems that's not possible.

Kindly through some light on this, if there are any possibilities or workarounds here.

Thanks in advance.

There is no such thing. It does not exist in any country.