NO. Not true! A Residence Permit is different from a company i.d., a person can stay in the country up to the expiry date of his/her RP. A Company i.d. is a work permit which allows you to work in a company. A person can have a different sponsor for the RP and work permit(company i.d.). A good example is a person being sponsored by their spouse and later on works on a different company from their spouse.