Noob CPF qn...

[mayorice]

if my pay is 1600, i only get 1024?
Calculations correct?

 

[yukita]

You only deduct your contribution, meaning 1600-20% = 1280

 

[Keverus]

if ur pay is $2k, u contribute 20%, so $400.

CPF contribution on ur part is cap at $1k per mth.

 

[beri stupid idiot]

if ur pay is $2k, u contribute 20%, so $400.

CPF contribution on ur part is cap at $1k per mth.

hi sir, if your pay is 10000 per month, based on 20% is cpf contribution is 2000, but max deduct 1000 to cpf is it like that ? tks

 

[magna_strike]

hi sir, if your pay is 10000 per month, based on 20% is cpf contribution is 2000, but max deduct 1000 to cpf is it like that ? tks

i cant remember correctly, but i think the max contribution for high pay is $1500?

 

[beri stupid idiot]

tks bro ... btw is there max contribution by company or is it at ard 16%

 

[lzydata]

hi sir, if your pay is 10000 per month, based on 20% is cpf contribution is 2000, but max deduct 1000 to cpf is it like that ? tks

Only the first $5k of the monthly salary is subject to CPF contributions. If your salary is $10k or even $100k, the employee contribution will still be only $1k (20% of $5k).

tks bro ... btw is there max contribution by company or is it at ard 16%

The highest rate for employer contributions is now 16% but will go up to 17% from 1 Jan 2015.

http://mycpf.cpf.gov.sg/Employers/Gen-Info/cpf-Contri/ContriRa.htm
http://mycpf.cpf.gov.sg/NR/rdonlyres/6F25F733-D0B5-4F9F-9682-A05252519937/0/Budget2014CPFconrate.pdf

 

[Keverus]

i cant remember correctly, but i think the max contribution for high pay is $1500?

no. 1k..........

 

[Keverus]

hi sir, if your pay is 10000 per month, based on 20% is cpf contribution is 2000, but max deduct 1000 to cpf is it like that ? tks

yes. u can say that.

 

[bazingaman]

Max contribution stops at 1000 (20% of 5000). Bonus component, companies have more flexibility. i.e. if you get bonus quarterly or commission monthly this can be taken full volume in first few months; then the last few months no deductions. Again this is capped at 5 months of pay. i.e. 20% of 5x5000

 

[rotiboyz]

Only the first $5k of the monthly salary is subject to CPF contributions. If your salary is $10k or even $100k, the employee contribution will still be only $1k (20% of $5k).



The highest rate for employer contributions is now 16% but will go up to 17% from 1 Jan 2015.

http://mycpf.cpf.gov.sg/Employers/Gen-Info/cpf-Contri/ContriRa.htm
http://mycpf.cpf.gov.sg/NR/rdonlyres/6F25F733-D0B5-4F9F-9682-A05252519937/0/Budget2014CPFconrate.pdf

tks bro, for the useful link : )