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The Central Provident Fund or CPF is a compulsory pension fund scheme in which the employer and employee contribute a percentage of the monthly salary to the fund. CPF contribute on by the employer is mandatory for all local employees who are Singapore citizens or permanent residents earning more than S$50 a month
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CENTRAL PROVIDENT FUND & SKILL DEVELOPMENT LEVY
Copyright © 2012 Rikvin Pte LtdLast updated on March 6, 2012
The Central Provident Fund or CPF is a compulsory pension fund scheme in which the employer and employee contribute a
percentage of the monthly salary to the fund. CPF contribution by the employer is mandatory for all local employees who
are Singapore Citizens or Permanent Residents earning more than S$50 a month. The maximum CPF contribution rate for
employers and employees is 14.5% and 20% respectively and can be lower depending on certain factors such as employee
age and permanent resident status. Employment pass holders do not have to contribute to CPF.
1st year PR 2nd year PR 3rd year onwards PR and Singapore citizenWith effect from 1 Sep 2011
With effect from 1 Sep 2012
(A) Employees age 50 years and belowEmployee 5.00% 15.00% 20.00% 20.00%Employer 4.00% 9.00% 16.00% 16.00%Total 9.00% 24.00% 36.00% 36.00%(B) Employees age above 50 to 55 yearsEmployee 5.00% 15.00% 18.00% 18.50%Employer 4.00% 9.00% 12.00% 14.00%Total 9.00% 24.00% 30.00% 32.50%(C) Employees age above 55 to 60 yearsEmployee 5.00% 12.50% 12.50% 13.00%Employer 4.00% 6.00% 9.00% 10.50%Total 9.00% 18.50% 21.50% 23.50%(D) Employees age above 60 to 66 yearsEmployee 5.00% 7.50% 7.50% 7.50%Employer 3.50% 3.50% 6.50% 7.00%Total 8.50% 11.00% 14.00% 14.50%(E) Employees age above 66Employee 5.00% 5.00% 5.00% 5.00%Employer 3.50% 3.50% 6.50% 6.50%Total 8.50% 8.50% 11.50% 11.50%
All companies required to contribute a fee to the skill development fund. SDL contribution is payable by employers for all
employees up to the first $4,500 of gross monthly remuneration at the rate of 0.25% or $2, whichever is higher.
WORKER GROSS MONTHLY REMUNERATION SDL PAYABLE REMARKS
A $150.80 $2.00 Minimum of $2 is payable
B $609.50 $2.00 Minimum of $2 is payable
C $2,000.00 $5.00 0.25% levy
D $4,500.00 $11.25 0.25% levy
E $4,502.00 $11.25 First $4,500 levied at 0.25%
F $10,000.00 $11.25 First $4,500 levied at 0.25%
SINGAPORE CENTRAL PROVIDENT FUND (CPF)AND SKILL DEVELOPMENT LEVY (SDL)
Online ResourcesCentral Provident Fund | Private Limited Company Guide | Corporate Compliance Guide
Copyright © 2012 Rikvin Pte LtdLast updated on March 6, 2012
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