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Jan 1, 2024 · CPF contributions are payable to employees who are Singapore Citizens and Singapore Permanent Residents (SPRs) at current CPF contribution rates. Learn how to calculate the amount of CPF contributions you need to pay.
This calculator has been updated to include rates applicable from January 2024. If you are an employer using CPF EZPay to submit and pay CPF contributions, you do not have to use this tool. CPF EZPay auto-computes employee CPF contributions for you.
5) To compute CPF contributions, use the CPF contribution calculator (cpf.gov.sg/employer > Tools and services > Calculators > CPF contribution calculator). These rates are also applicable to 1st and 2nd year Singapore Permanent Resident (SPR) employees and their employers after CPF Board approves
Mar 14, 2024 · As an employer, you are required to make CPF contributions at the monthly rates stated in the CPF Act. You can recover your employee's share of the contribution by deducting it from their wages.
Jan 10, 2024 · Employers contribute up to 17% of their workers’ salaries to their CPF accounts. In addition, employees also contribute up to 20% of their salaries in employer’s CPF contributions. This is how companies here play their part in building a safety net for Singapore workers in their old age.
The CPF contribution rates are stated as a percentage of wages. The percentage point figures in parentheses refer to the increase in CPF contribution rates from 1 January 2023, compared to current levels. More information.
Employers in Singapore are required to make CPF contributions for employees who are Singaporeans or Permanent Residents and earn a total wage of more than $50 a month. This comprises the employer’s and employee’s shares, which are 17% and 20%, respectively, for workers age 55 and below.
Mar 4, 2019 · Working Singaporeans and their employers are required to make monthly contributions to the CPF, which go into 3 accounts: Ordinary Account: Primarily for retirement and housing needs; Special Account: Primarily for retirement needs; Medisave Account: Primarily for healthcare needs.
Jan 5, 2022 · Singapore citizens and PRs (third year onwards) earning $750/month or more. Every month, your employer withholds a percentage of your salary and pays that into your CPF accounts. This is the “employee’s CPF contribution”. In addition, your employer will also need to pay a percentage of your salary into your CPF accounts.
(a) From 1 January 2025, the CPF contribution rates for employees aged above 55 to 65 will be increased to strengthen their retirement adequacy. The changes apply to wages earned from 1 January 2025: For employees earning monthly wages > $750
