salary calculation

[siewhf]

If someone getting

OA : $180.29 SA : $60.06 MA : $68.65

What will be this person's monthly salary ?

How is calculation go ?

 

[G0500474]

My guess is that all contributions account for 30% of the salary.
So add all and divide by 0.3 to get 100% of the salary.

 

[teerance85]

If someone getting

OA : $180.29 SA : $60.06 MA : $68.65

What will be this person's monthly salary ?

How is calculation go ?

What you can do is;

1) Add up the total contribution.
2) Go to CPF website -> General Information -> Contribution rate booklet -> look out for the age
3) Work backwards and you will see the salary

Disclaimer: It might not be an accurate way to check as the employer might short or overpay the contribution.

 

[Capitalist]

If someone getting

OA : $180.29 SA : $60.06 MA : $68.65

What will be this person's monthly salary ?

Low.

Awfully low.

 

[knightdreamer]

If someone getting

OA : $180.29 SA : $60.06 MA : $68.65

What will be this person's monthly salary ?

How is calculation go ?

Hi siewhf,

From the cpf contribution rate, I believed this person is age between 35 to 45 and monthly ~858$:x

 

[Yo2020]

From the cpf contribution rate, I believed this person is age between 35 to 45 and monthly ~858$:x

based on the distribution ratio into the 3 accts, agree n agree.

 

[lzydata]

OA : $180.29 SA : $60.06 MA : $68.65

I got a partly different answer: person is 35-45 years old, gross salary is around $1k.

Step 1 is to work backwards from the allocation rates. The current ones are here:

http://mycpf.cpf.gov.sg/NR/rdonlyre...01E9F4AE909/0/CPFAllocationRates1Sept2012.pdf

Total CPF contribution is $309. Take the MA contribution, it is 68.65/309 = 0.222. So the age is above 35 to 45 years old.

Step 2 is to consult the CPF Contribution Rate booklet for the age group. This is the above 35 to 50 year old one:

http://mycpf.cpf.gov.sg/NR/rdonlyre...79-2936365577D9/0/conbook_35to50_2011Sept.pdf

There are two brackets of total wages that give a CPF contribution of $309: $999.46-$999.99 (employee contribution $179) and $1000.00-$1001.64 (ditto $180). It is probably the round figure, $1k.

Some of you above used a 36% rate to calculate the gross salary. It does work most of the time, and for this age group, but NOT for this level of salary. 36% currently applies only to $1,500 and above. The effective CPF contribution rate of this earner is lower, at 30.9%.

From 1 Jan 2014, there will be some changes for low income-earners. In short, for this person earning $1k per month, the full 36% rate will apply. So the total CPF contribution will become $360, $200 from the employee and $160 from the employer (used to be $180 and $129). The employee will see a slight dip in take-home pay, but his overall salary grows.

Both links to the current allocation rates PDF and the contribution booklet PDF are from this page: CPF Board - CPF Contribution Sep 2012 to Dec 2013 - my CPF 1. Info on the changes from 1 Jan 2014 is here: CPF Board - CPF Contribution and Allocation Rates - my CPF 2

By the way, sorry to be intrusive, but if this person is eligible for Workfare, at monthly income of $1k, he/she can get $1,400 for a year, $560 in cash and $840 in CPF. Starting from next year, this becomes $2,100 a year.

CPF Board - Workfare Income Supplement (WIS) Scheme - my CPF 2