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Singapore CPF Rates SDL Levy

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					CENTRAL PROVIDENT FUND
& SKILL DEVELOPMENT LEVY
                 SINGAPORE CENTRAL PROVIDENT FUND (CPF)
                     AND SKILL DEVELOPMENT LEVY (SDL)
 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 citizen
                                                                             With effect from           With effect from
                                                                             1 Sep 2011                 1 Sep 2012
  (A) Employees age 50 years and below
  Employee                              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 years
  Employee                              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 years
  Employee                              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 years
  Employee                              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 66
  Employee                              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%


  Online Resources
  Central Provident Fund | Private Limited Company Guide | Corporate Compliance Guide

Last updated on March 6, 2012                                                                         Copyright © 2012 Rikvin Pte Ltd
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Last updated on March 6, 2012                               Copyright © 2012 Rikvin Pte Ltd

				
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Description: 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