CPF Contribution Basics for Employers

In Singapore, the Central Provident Fund (CPF) is a mandatory social security savings scheme for Singapore Citizens and Permanent Residents. As an employer, you are required to contribute a percentage of your employee’s monthly wages to CPF, alongside your employee’s contribution.

The CPF contribution rates vary depending on the employee’s age group and wage level. Contributions must be submitted by the 14th of the following month, and late payments attract penalties.

Tip: Always check the latest CPF rates before processing payroll, as rates may change in Budget announcements.

Official Reference: CPF Contribution Rates